Brunswick Corp. announced it has received tenders from holders of bonds totaling approximately $12 million in response to its modified Dutch auction tender offer for up to $75 million of its outstanding 11.75 percent notes due in 2013. Brunswick has accepted and paid for the tendered notes using net proceeds from its recently completed offering…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.
RBC Capital Markets is upgrading Brunswick Corp. stock from sector perform to outperform. “With liquidity risks now behind it and dealer inventories coming in line, we view [Brunswick] as a compelling three-year earnings recovery story,” analyst Edward Aaron wrote in his report. “Our call requires only a 20 percent demand recovery over the next three…more
Brunswick discontinues the line it established in 1988, the fifth since May 2008 As part of its ongoing cost-cutting initiatives, Brunswick Corp. in August announced plans to discontinue its Maxum boat line, which it established in 1988. It is the fifth boat line Brunswick has discontinued in the last year in response to the sagging…more
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
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