Good News for Incat

Monday, May 13, 2002
The Australian Broadcasting Corp. has reported that Incat, in receivership since March, has completed the partial sale of one of its vessels, for $20 million, significantly aiding the financially stricken company. According to the report, Sydney-based Record Investments has acquired an interest in one of the company's older catamarans. Incat reportedly retained a stake in the vessel due to a variety of potential charterers interested in the vessel.
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