Chris-Craft:1981 to 1988, Murray Chris-Craft
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[edit] The Murray Years
G. Dale Murray and a small group of investors that included Dick Genth purchased the Boat Division from Chris-Craft Industries, Inc. in December of 1981. This brought the boat builder back into private ownership after 21 years of public corporate domain. The name Chris-Craft was licensed to Murray Industries, Inc. inasmuch as the name “Chris-Craft” was the trade symbol on stock exchanges throughout the world for Chris-Craft Industries, Inc.
Murray Chris-Craft opened its first year in business in 1982 with a slimmed down fleet of 28 models available (18 sportsboats and 10 cruisers). This soon changed with the purchase of Viking Boat Company in May, creating Murray Chris-Craft Sportdecks with facilities in Goshen, Indiana.
The 1983 fleet included 29 sport models and 18 cruisers and sales were growing by leaps and bounds. Murray needed more production facilities to keep up with increasing demand. In 1984 Murray purchased Uniflite, Inc. with facilities in Bellingham, Washington and Swansboro, North Carolina adding 8 more models to the fleet and providing the needed production facilities to continue their rapid growth. Included in the acquisition was the ability to add larger cruisers to their line-up. The 1984 fleet grew to 35 sport models and 20 cruisers.
[edit] Lets Go Racing
In fulfilling a commitment to return to powerboat racing, Murray Chris-Craft developed the new 300 Chris-Cat, a racing catamaran powered by twin 400 or 420 HP high performance power plants and was added to their 1984 sportsboat fleet. The boat went on to set new speed records in its class that year and in years to come. Chris-Craft was back in the racing business. As with Chris-Craft’s founder, Christopher Columbus Smith and his sons, Murray realized that a racing program would benefit in developing safe performance watercraft for their customers. He wasted no time in putting together a winning combination of equipment and talent.
Dick Genth who had restructured the Boat Division for Chris-Craft Industries in the late seventies to be profitable and who was a major partner in the purchase of Murray Chris-Craft and whose hands-on management style played a major role in the company’s immediate success in the early eighties parted ways with Dale Murray in 1984. He later became the owner of Donzi Marine.
In 1985 the Murray Chris-Craft fleet grew to 66 models in all. There were 42 Sportsboats and 24 cruisers in the diverse line-up which included a 50’ Constellation, a name synonymous with high quality mahogany cruisers that ended 12 years earlier.
[edit] Mail Room to Board Room
Bruce Donaldson was hired by Harsen Smith in the late fifties. His first assignments were to “…work on little tasks here and there”. He caught on to the boating industry quickly and soon found his niche in sales, eventually becoming Sales Manager of the Sailboat Division. He continued to climb the management ladder over his tenure and in 1986 was assigned the position of President and Chief Operating Officer of Murray Chris-Craft boat companies by Dale Murray.
In 1986 the Cavalier name returned to Chris-Craft in the Sportsboats fleet in 17 and 19 foot models. The Limited series were introduced as well. Continuing in the 1986 line-up were Scorpion, Stinger, Chris-Cat, Ski-Jack and Sportdeck. Thus, the company was providing a full spectrum from affordable leisure watercraft to the high performance powerboats. The cruiser fleet was reduced to 26 offerings, however still included low, mid and high-end models from the 25 foot Catalina Express to the 58 foot Tournament Fisherman.
[edit] New Challenges
The marine industry was beginning to take on a new character in late 1986. Bayliner, the largest boat company in the nation along with Sea Ray, the second largest, were purchased by Brunswick Corporation followed by the OMC (Outboard Marine Corporation) acquisition of Four Winds, Lowe, Stratos, Sunbird and Bramco. As a result, Murray Chris-Craft became the largest independent boat builder in the world, for what it was worth. The two large conglomerates would do a combined gross annual sales of over one billion dollars compared to Murray Chris-Craft’s gross of about $200 million.
The 1987 fleet strategy was hopeful of increasing gross sales by introducing a new line of boats that were dramatically different. Although they were inspired by popular European designs, Murray Chris-Craft President Bruce Donaldson insisted that the name not be the suggested Eurosport but would be named Amerosport, a name that reflects Chris-Craft’s long history of American made boats with American technology, craftsmanship, design and ingenuity. The 1987 fleet included 11 Amerosport models from 23 feet to 41 feet, 30 Sportsboat models and 12 cruisers. The sportsboat and cruiser fleets were reduced due to the introduction of the Amerosport models of the same class.
[edit] To Compete or Not
In 1987 Murray sold a substantial interest in Murray Industries, Inc. to Ghaith R. Pharaon of Saudi Arabia in an effort to align the company with someone who could provide capital. He felt that Dr. Pharaon could provide the much needed capital for expansion and development that would be required to compete with Brunswick and OMC.
The 1988 fleet began taking on a new outlook with the 50 models offered. Sixteen of their 27 sportsboat models were completely new for the year. There was a growing demand for sport fishing and Chris-Craft responded by offering a Sport Fisherman fleet ranging from 22 feet to their top of the line 58 foot Commander. The Amerosport fleet continued to gain popularity and new cruisers were added to the Catalina, Commander and Constellation fleets.
[edit] Troubled Waters
By mid-year Murray Industries, Inc. was struck with troubled waters as the boat-building entity of the company, of which Murray only kept a minority interest in his arrangement with Pharaon, was suddenly and without warning taken from Murray’s control. Most executives were displaced with Pharaon people and by December entered into Chapter 11 Bankruptcy protection. On February 4, 1989 the assets of the Chris-Craft boatbuilding interests were sold at auction in the Tampa Federal Courts to OMC for $53 million plus a large remuneration to Murray based on sales for the next 5 years. Thus, the history of Murray Chris-Craft came to an end.
As with Murray Industries, Inc., Outboard Marine Corporation agreed to pay a license fee to Chris-Craft Industries, Inc. in order to continue using the name Chris-Craft. Although scaled down extensively, manufacturing of the Chris-Craft fleet continued through the turmoil and the 1989 fleet was introduced on schedule.
[edit] References
- Chris Craft, The Essential Guide, by Jerry Conrad; Mariners' Museum
- Type: Book; English
- Publisher: Newport News, VA : Mariners' Museum, ©2002.
- OCLC: 49780180
- Chris-Craft Boats, by Anthony S Mollica; Jack Savage
- Type: Book : Biography; English
- Publisher: St. Paul, MN : MBI Pub. Co., ©2001.
- ISBN: 0760309205 9780760309209
- OCLC: 48086949
- The Legend of Chris-Craft, by Jeffrey L Rodengen
- Type: Book; English
- Publisher: Fort Lauderdale, FL : Write Stuff Syndicate, ©1998.
- Edition: 3rd ed | 3 Editions
- ISBN: 0945903200 9780945903208
- OCLC: 40002035
