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East Boothbay, Maine
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News
Hodgdon Yachts to Joine Maine Trade Mission to France
October, 2005
East Boothbay, Maine - Hodgdon Yachts of East Boothbay is one of 30 Maine businesses set to take off for a trade mission to France, beginning October 22. The weeklong blitz, led by Maine Governor John Baldacci and organized by the Maine International Trade Center, will open with pre-arranged business-to-business meetings and a reception in Lyon. Later in the week, the delegation - including Hodgdon Yachts president and fifth-generation boatbuilder Tim Hodgdon - will journey to Paris for more meetings and a special State of Maine banquet. Trade Center Vice President Janine Bisaillon-Cary said the mission comes at a promising time for Maine companies seeking French ties.

"The weak U.S. dollar continues to assist Maine companies doing business in Europe. This exchange rate, along with improved U.S.-France relations, creates many exciting opportunities for Maine companies in France," she said. French consumers already appear to have an appetite for Maine goods. From 2003 to 2004, Pine Tree State exports to France shot up 57% to $18.6 million, led by wood pulp, industrial machinery, seafood, chemicals and electric machinery. And trade numbers suggest France remains hungry - not just for lobster, but also for high-tech Maine products ranging from computer software to aircraft parts.

Hodgdon hopes its Maine-built superyachts will be next. Europeans new to yachting got their first glimpse of Hodgdon masterworks at the Monaco Yacht Show in Monte Carlo in September. But for those with a longtime passion for fine yachts, the Hodgdon name brings to mind a long tradition of excellence and innovation. The 189-year-old builder began rewriting the books on yacht design in the 1980s, when it pioneered a method of hull construction called cold-molding. Combining traditional boatbuilding artistry with advanced engineering technologies, the cold-molding process produces a new breed of hull that proves ideal for large pleasure yachts. And it has become the basis for Hodgdon's signature Modern Classic Yacht, typified by the award winning and critically acclaimed 124-foot sloop Antonisa and 155-foot ketch Scheherazade.

Luxury, to be sure - but there are those in France who can afford it. The longtime U.S. ally has the world's fifth largest industrialized economy and an impressive per-capita disposable income of $29,000 (compared to $27,500 in the United States). In addition, Maine's historical ties to France and large French-speaking community could translate into an especially warm welcome when Hodgdon and the rest of the state's trade mission touches down in Lyon. "We have received a grand reception from all of our French cooperators," said Bisaillon-Cary.