Brunswick deftly deploys itself for strong recovery Since the marine industry downturn began two years ago, Brunswick Corp. has been staying a step ahead of the recession by drastically cutting costs and shoring up liquidity. These efforts have enabled the industry’s largest boatbuilder to avoid even the threat of bankruptcy and earned it high praise…more
Brunswick Corp.’s boat group consists of 15 brands worldwide, including Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris FloteBote, Lowe, Lund, Meridian, Princecraft and Sea Ray. The group’s additional four brands — Rayglass, Uttern, Valiant and Quicksilver — are marketed in countries other than the United States.
Dustan E. McCoy, chairman and CEO of Brunswick Corp., will attend the RBC Capital Markets Consumer Conference Wednesday in New York City. Presentation materials used during the conference can be viewed on the company’s Web site starting Wednesday.
Brunswick Corp. launched a cash tender offer to purchase up to $75 million aggregate principal of its outstanding 11.75 percent Senior Notes due 2013. As of July 4, the end of Brunswick’s second quarter, 2013 notes in an aggregate principal amount of $250 million were outstanding. The tender offer is scheduled to expire at midnight…more
Hundreds of surplus items were auctioned off Wednesday by Brunswick Boat Group at its Sea Ray plant in Tennessee. The company offered for sale items such as truck tractors, upholstery and sewing equipment, and industrial fans to a 1971 Cobra – the first boat Baja Marine Corp. ever built, according to an article in the…more
Brunswick Corp. says in regard to its previously announced tender offer and consent solicitation for its outstanding 5 percent notes due 2011, it has received tenders and consents from holders of approximately $149.4 million aggregate principal amount of the notes. That represents more than 99.5 percent of the outstanding 2011 notes. Brunswick has accepted and…more
Mercury Marine and the International Association of Machinists and Aerospace Workers are continuing talks, with the hope of finishing negotiations by Monday, the company announced. Representatives of Mercury and the union talked for about seven hours Tuesday to conclude discussions slated for that meeting. Negotiations are scheduled to continue this morning and could continue Thursday…more
Maxum dealers speaking with Soundings Trade Only said Brunswick’s decision to discontinue the boat line shouldn’t have much impact on their business. “I wasn’t too upset about it. It’s not a crucial boat line,” said Gary Dobrindt, of The Boat Center, with locations in Connecticut and Rhode Island. “There isn’t anybody that’s just a Maxum…more
Brunswick Corp. has priced an offering of $350 million aggregate principal amount of 11.25 percent senior secured notes due 2016 at an issue price of 97.036 percent. This is an increase from the $250 million the company had previously announced. The new notes will be secured by first-priority liens on Brunswick’s headquarters and domestic retail…more
As part of its ongoing cost-cutting initiatives, Brunswick Corp. says it is discontinuing its Maxum boat line, which it established in 1988. “This decision emerged from our continuing efforts to review every aspect of our operations, including our brand portfolio, in an effort to position Brunswick to emerge from this downturn a stronger company,” company…more
Brunswick Corp. today announced its intent to offer $250 million aggregate principal amount of senior secured notes due 2016 in a private offering to qualified institutional buyers. The new notes will be secured by first-priority liens on Brunswick’s headquarters and owned domestic retail bowling centers and by second-priority liens on substantially all of the assets…more