McKay Buys Stake in WEBBCo

New Zealand-based electrotechnology company Mckay announced it has reached an agreement to take a 35% stake in compatriot shipbuilder Wellington Electric Boat Building Company (WEBBCo).

WEBBCo builds and supplies composite-constructed all-electric ferries, and McKay has been the electrical systems partner to WEBBCo for design and construction of Ika Rere, a 19-meter 132-passenger carbon fiber ferry for East by West Ferries. "McKay has recognized for several years that the future of transport is electric, and sees its stake in WEBBCo as the best way to participate in the application of electric propulsion to marine passenger vessels," the company said.

McKay managing director Lindsay Faithfull said, “With the combination of Whangarei sourced specialist marine expertise and the resources of the Wellington region, Wellington has an opportunity to become a center of excellence for electric passenger ferries. McKay is tremendously excited to be part of this journey and to make a meaningful contribution to a zero-carbon future.”

Headquartered in Whangarei with operations throughout most of New Zealand, McKay is an 83-year-old vertically integrated electrotechnology company that carries out engineering design, automation, manufacturing, construction, and maintenance. McKay works in the marine, infrastructure, heavy industry, commercial, and renewable power markets.