Esquif Canoes announced this morning that they are back in business and will resume manufacturing canoes in their Frampton, Quebec factory. After filing for bankruptcy in March, president and founder of Esquif Canoes Jacques Chassé told Rapid Media last week that the creditors have agreed to a buyback proposal of the company’s assets.
In 2013, PolyOne, the US manufacturer of Royalex, announced that it would no longer be producing the popular canoe hull material thereby cutting supply to Esquif. Eighty percent of Esquif Canoes were manufactuered using Royalex. Manufacturers stocked up on Royalex sheets for the 2014 season but the increased consumer and outfitter demand due to the threat of scarcity diminished inventories by last fall. Although Rapid Media has reported that Chassé had been working on a replacement for Royalex; without a material to make boats, Esquif had a serious cash flow problem.
“We needed a solution, but the research and the development required to manufacture such a highly-specialized technical material requires much time and resources. We ran a bit short on both!” explains the company founder. “Fortunately, we proved that Esquif was viable and that we are now ready to initiate the manufacturing of the new T-Formex that will replace Royalex”.
Esquif intends to operate a sales branch dedicated to T-Formex. The company will not only build its own canoes from this new material, it plans on selling the sheets to other canoe builders who also have been left in the lurch.
“The market’s interest for such a product is significant and many customers have already placed an order for the specialized plastic,” says Chassé.
In a telephone conversation with Rapid Media publisher Scott MacGregor, Chassé said that he expects T-Formex to be ready by the fall and canoes ready to paddle for the 2016 season. In the meantime, production of Esquif’s composite and rotomolded polyethelene boats will begin immediately. Chassé also said that there is a limited number of whitewater solo canoes still available.
The following is the official press release that appeared on Esquif’s Facebook page today:
PRESS RELEASE
For immediate announcement
Great news for the world of outdoor sports
Esquif Canoes will resume production
Frampton (Que), Monday, May 4th, 2015 – The Esquif Canoe Company announces today that their factory will resume production. A supply problem in raw material had pushed the company into bankruptcy last March. The creditors have agreed to a buyback proposal of the assets from the president and founder of Esquif, Mr. Jacques Chassé.
“We are now able to produce the highly-technical material required to manufacture our boats,” announces president and founder of Esquif Canoes, Jacques Chassé.
Raw Material
Last year, the U.S. manufacturer of Royalex announced the end of its production line, thus cutting off supplies to Esquif. “We needed a solution, but the research and the development required to manufacture such a highly-specialized technical material requires much time and resources. We ran a bit short on both!” explains the company founder.
“Fortunately, we proved that Esquif was viable and that we are now ready to initiate the manufacturing of the new T-Formex that will replace Royalex”. The company also intends to operate a sales branch dedicated to T-Formex. The new product is an ABS plastic with a foam core. “While being ultra light, our development has enabled us to make T-Formex highly resistant to scratches, impacts and UV rays,” affirms Mr. Chassé adding that, “he market’s interest for such a product is significant and many customers have already placed an order for the specialized plastic.”
Renowned worldwide, Esquif Canoes will distribute, once again, their exceptional boats in fall 2015. “Our company is based on innovation and passion, it is these two strengths that have kept us going,” states Mr. Chassé.
A passion for canoes
“We have revolutionized the world of whitewater canoes with cutting-edge boats that have appealed to amateurs and professionals,” says Mr. Chassé adding that our lake and expedition canoes are very much esteemed in the paddling community. “The creation and the manufacturing of our boats remains the company’s priority.”
