Company History
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Marine Products is a Delaware corporation incorporated on August 31, 2000, in connection with a spin-off from RPC, Inc. (NYSE: RES) (“RPC”). Effective February 28, 2001, RPC accomplished the spin-off by contributing 100 percent of the issued and outstanding stock of Chaparral to Marine Products, a newly formed wholly owned subsidiary of RPC, and then distributing the common stock of Marine Products to RPC stockholders.
Marine Products designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser and sport fishing markets. The Company sells its products to a network of 206 domestic and 92 international independent authorized dealers. Marine Products’ mission is to enhance its customers’ boating experience by providing them with high quality, innovative powerboats. The Company intends to remain a leading manufacturer of recreational powerboats for sale to a broad range of consumers worldwide.
The Company manufactures Chaparral sterndrive pleasure boats including SSi Sport and Fish & Ski boats, SSX Sportboats, OSX Luxury Outboard Sport Boats and the Surf Series. The most recent available industry statistics [source: Statistical Surveys, Inc. report dated December 31, 2021] indicate that Chaparral is the second largest manufacturer of sterndrive boats in lengths from 21 to 34 feet in the United States.
Chaparral was founded in 1965 in Ft. Lauderdale, Florida. Chaparral’s first boat was a 15-foot tri-hull design with a retail price of less than $1,000. Over time Chaparral grew by offering exceptional quality and consumer value. In 1976, Chaparral moved to Nashville, Georgia, where a manufacturing facility of a former boat manufacturing company was available for purchase. This provided Chaparral an opportunity to obtain additional manufacturing space and access to a trained workforce. With 54 years of boatbuilding experience, Chaparral continues to expand the range of its offerings through insightful product design and quality manufacturing processes in order to reach an increasingly discerning recreational boating market.
The Company also manufactures Robalo outboard sport fishing boats. Robalo was founded in 1969 and its first boat was a 19-foot center console salt-water fishing boat, among the first of this type of boat to have an “unsinkable” hull. Robalo is the second largest manufacturer of outboard boats in lengths from 18 to 36 feet in the United States. Combined with the outboard boat lines within Chaparral, the combination of the two brands leads the market with a market share of 6.3%. |
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1965
Chaparral was founded in Ft. Lauderdale, Florida. Chaparral's first boat was a 15-foot tri-hull design with a retail price of less than $1,000.
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1969
Robalo was founded and its first boat was a 19-foot center console salt-water fishing boat, among the first of this type of boat to have an "unsinkable" hull.
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1976
Chaparral moved to Nashville, Georgia, obtaining additional manufacturing space and access to a trained workforce.
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1986
Chaparral Boats was purchased by RPC Energy Services (RPC, Inc.).
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1993
Sunesta Deck Boat introduced.
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2000
Premium SSi Sport Boat line introduced.
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February 2001
Chaparral was spun off from RPC, Inc. into Marine Products Corporation and began trading on the American Stock Exchange.
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June 2001
Marine Products Corporation acquired Robalo's operating and intangible assets.
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June 2005
Marine Products Corporation began trading on the New York Stock Exchange (NYSE: MPX).
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2007
SSX Luxury Sport Boat introduced.
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2012
H20 Sport Boats introduced.
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2015
SunCoast Outboard Sport Decks introduced.
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2017
Chaparral enters the wakesurf market with Vortex.
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2019
Chaparral introduced the OSX Luxury Sportboat.
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