Cat Factory (not the same Cat Factory as the new WA boat builders) in Newcastle built several Stingray and Cobras mostly for local distribution. A few were packed up and sent over the Belgium to their new dealer Austral Cobray. They were also to produce an F18 not based on the Stingray, which myself and my Tornado crew were asked to race for them.

From what I heard from the owner of the Cat Factory, boats were sent over the Belgium to the new dealer without $$$ being exchanged and no money was later forcoming. Meanwhile companies who supplied goods to the Cat Factory expected to get paid and they went belly up. This is only one side of the story though. I never spoke personally with the owner of Austal Cobray.