EPS Acquires 50% Stake in VectorWorks
EPS Corporation (EPS) has announced the acquisition of one-half interest in Vectorworks Marine LLC, manufacturer of reinforced plastic composite vessels.
The Vectorworks facilities, located on the Intracoastal Waterway, Titusville, Florida, specializes in producing state-of-the-art marine vessels for military, commercial, sport, and recreational use. Vectorworks provides its services to government agencies, commercial entities and other marine manufacturers worldwide.
Presently under construction at Vectorworks for delivery in 2009 to the Saudi Arabian Ministry of Interior for the use by the Saudi Arabia Border Guard Naval Affairs, is the first of two EPS M-10 Hovercraft vessels which can operate effectively at sea, in shallow water, and over land. Powered by two 1,000 hp diesel engines, which provide it with lift and propulsion, the EPS M-10 can reach speeds of up to 50 knots.
In addition to the EPS M-10, the EPS SAH-2200 Hovercraft is scheduled to be built at Vectorworks. Smaller than the M-10, the EPS SAH-2200 has a speed of 40 knots, a single engine, and a range of some 500 nautical miles.
In 2007, Vectorworks doubled its machining volume with the addition of a new 103 ft high-speed router, which saves substantial time and cost – operating as a numerically controlled machine 24/7.