Teleflex announced that last week it completed the previously announced sale of its subsidiary Telair International Inc.'s actuation business to TransDigm Group Inc.
The sale proceeds are approximately $94 million.
Actuation will be reflected as a discontinued operation in Teleflex's future consolidated financial statements, the company said.
The growing demand for hybrid and electric engines is becoming more apparent within the leisure marine market, prompting Metstrade to introduce the E-nnovation Lab platform for electric propulsion technology.
Boat registrations were up 2.1 percent in May in the main powerboat categories, and rose 3.2 percent in all categories, according to preliminary data from Statistical Surveys Inc., a Michigan company that tracks new boat registrations.
The 25 percent tariff the EU announced Wednesday on U.S.-built boats kicks in today, and a 10 percent tariff on boats sold to Canada will start July 1, prompting boatbuilders to worry they will lose sales to those countries.
CWR Wholsale Distribution named Jim Higgins as the company's New Jersey outside sales representative.
Paint and coatings manufacturer AkzoNobel, opened a newly-constructed warehouse in La Porte, Texas.
Oceanair Marine has named Justine Heeley as its new managing director
Chrystia Freeland, Canada’s Minister of Foreign Affairs, acknowledged boating-industry concerns about Canadian tariffs on U.S.-manufactured boats that are set to go into effect on July 1.
Citing several economic indicators, one economist told Bloomberg News that the U.S. economy is “close to a peak” this quarter, after ten years of expansion.
Obexer’s Boat Company in Homewood, Calif., is now carrying ValvTect Marine Gasoline at its docks.