Yamaha Motor Corp. USA purchased the assets of Indianapolis-based Precision Propeller.
Yamaha plans to retain the company’s workers while making capital investments in the plant and its processes for the production of marine propellers. The new company will now be known as Precision Propeller Industries.
“Until today, we have been a customer of Precision Propeller,” said Phil Dyskow, Yamaha Marine Group president, in a statement. “We liked the company so much, we decided to make it a part of Yamaha Marine Group.”
Yamaha Marine, based in Kennesaw, Ga., markets marine outboard motors ranging in size from 2.5- to 350-hp. The variety of propellers to be supplied by Indianapolis-based PPI will allow Yamaha to better meet the needs of its customers, which include more than 120 independent boatbuilders in the United States.
“The marine outboard industry is complex,” said Dyskow. “We need to have the right outboard motors for our customers and all the right hardware to go along with them. PPI employees will help us supply them.”
Yamaha, through its Marine Group, holds about a third of the market share for marine outboards in the United States. Yamaha’s assets include three boat companies: Century saltwater fishing boats; Skeeter freshwater fishing boats; and G3 aluminum fishing boats.
Precision Propeller opened in 1969 as a propeller repair company. In 1980, the company began producing custom-made propellers under owner and founder Jim Booe.
“I am convinced Yamaha will take this business to the next level,” Booe said in a statement. “I could think of no better way to assure PPI’s continued growth in the marine industry.”