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  1. #1

    Brunswick boat group buys Attwood Marine

    09/02 9:13A (DJ) PRESS RELEASE: Brunswick Acquires Boat Parts and Accessories
    Business of Attwood
    Story 2865 (BC, SCS, I/ENT, I/FTR, I/HMF, I/MRE, I/OMF, I/REC, I/REQ...)
    Brunswick Acquires Boat Parts and Accessories Business of Attwood

    LAKE FOREST, Ill., Sept. 2 /PRNewswire-FirstCall/ -- Brunswick Corporation
    (NYSE: BC) announced today that it has acquired the marine product business of
    Attwood Corporation, a leading manufacturer of marine hardware and accessories
    and a subsidiary of Steelcase Incorporated (NYSE: SCS), for approximately
    $47.9 million in cash. Lowell, Mich.-based Attwood, with annual sales of
    approximately $56 million, will be part of the Brunswick Boat Group's Parts
    and Accessories business.
    "Attwood is among the largest and most respected marine parts manufacturers
    in North America, which will immediately give us a significant presence in
    this market," said George W. Buckley, chairman and chief executive officer of
    Brunswick Corporation. "Participating in the boat parts and accessories (P&A)
    segment achieves a number of strategic objectives. It facilitates our efforts
    to integrate boat and engine design and engineering. It also enables us to
    offer a higher level of service to our dealers. In addition, it provides
    Brunswick a chance to increase sales as well as an attractive profit
    opportunity for Brunswick and our dealers as after-market P&A traditionally
    offers higher-margins."
    "As with our recent acquisition of Land 'N' Sea, Attwood is a key element in
    our goal of building a dedicated boat P&A business," explained Dustan E.
    McCoy, president of the Brunswick Boat Group. "Our strategy is to focus on
    delivering to Attwood customers -- dealers and independent repair shops,
    warehouse distributors, retailers, and original equipment manufacturers --
    superior parts and service support. Further, Attwood's in-house component
    design and engineering capabilities will enable us to develop a line of
    proprietary P&A for our Brunswick boat brands and dealers."
    "In addition, Attwood has used vendors from around the globe for 25 years to
    produce its own designed and engineered products," McCoy said. "We believe
    these relationships will make our current global sourcing initiatives even
    more effective. Combined with Land 'N' Sea's broad distribution network,
    Attwood will be a great addition to the Boat Group's P&A business."
    "Attwood's strong sales, marketing and customer service, product quality and
    operations were very compelling," added Randy Gray, vice president and general
    manager of Brunswick Boat Parts and Accessories. "Attwood is ISO 9001
    certified and has solid operations and warehousing systems, including lean
    manufacturing practices and highly efficient pick-and-ship capabilities. Our
    plans are to solidify and integrate Attwood's operations into the Brunswick
    Boat Group as swiftly and efficiently as possible."

    About Brunswick
    Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to
    instill "Genuine Ingenuity"(TM) in all its leading consumer brands, including
    Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and
    inboard engines; Teignbridge propellers; MotoTron electronic controls;
    Northstar marine electronics; Navman GPS-based products; IDS dealer management
    systems; Sea Ray, Bayliner, Maxum, Hatteras, Meridian and Sealine pleasure
    boats; Baja high-performance boats; Boston Whaler and Trophy offshore fishing
    boats; Princecraft fishing, deck and pontoon boats; Attwood marine parts and
    accessories; Land 'N' Sea parts and accessories distribution; Life Fitness,
    Hammer Strength and ParaBody fitness equipment; Brunswick bowling centers,
    equipment and consumer products; Brunswick billiards tables; and Valley-Dynamo
    pool, table hockey and foosball tables. For more information, visit .

    (END) Dow Jones Newswires

  2. #2
    Platinum Member Platinum Member Reindl Powerboats's Avatar
    My Boats:
    Reindl 28 Vamp, Reindl One Design
    Join Date
    May 2001
    Congrats to Brunswick, hopefully it was a win - win for both parties.
    Chris Reindl

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