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Fountain Aquired Baja

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Old 03-20-2008, 02:21 PM
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fountain set up a new entity last year so I would bet both companies will be owned by fountain power sports.

interested to see if brunswick financed the deal. vip boats closed their plant, now baja.

I don't think fountian creditors would approve of more debt. I wouldn't based on their balance sheet and earnings so it has to be to another entity.
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Old 03-20-2008, 02:22 PM
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Can reggie's plant even put out 300+ boats a year??
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Old 03-20-2008, 02:40 PM
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I just bought shares in Fountain......let's see what happens.

Maybe Fountain can help me pay off my Donzi!
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Old 03-20-2008, 02:45 PM
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Tom A. You did what?? I will gladly sell you mine. I've only lost 20,000 in three years. Sell it now before you lose like I did.
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Old 03-20-2008, 03:20 PM
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Here is the article, just came out, checked FPB through my tdameritrade acct and its up 9c to 1.50 a share

There goes the neighborhood

Brunswick Announces Sale of Baja Marine Assets to Fountain Powerboats
3:04p ET March 20, 2008 (PR NewsWire)
Brunswick Corporation (NYSE: BC) today announced the signing of a letter of intent to sell certain assets relating to its Baja boat business to Fountain Powerboat Industries, Inc., of Washington, N.C. Terms of the agreement were not disclosed, and completion of the sale is subject to certain conditions. In preparation for the transition, Brunswick plans to end production of Baja boats in Bucyrus, Ohio, by the end of May, consistent with the end of the 2008 model year. As a result of these actions, the company said it estimates that asset write-downs, along with severance and other costs associated with the plant closure, could total between $10 million to $15 million, pre-tax.

"This was a strategic decision to further refine our product portfolio and best focus our resources on brands and marine segments that we believe are core to our success going forward," said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "This action in no way reflects upon Baja or the abilities and performance of the Bucyrus work force. We believe, however, that Baja and its dealers will ultimately benefit from being a part of Fountain Powerboats, a company that, like Baja, is a leader in high-performance boats."

When completed, the closing of the Baja plant will mean a loss of approximately 285 positions. Baja leadership will be working diligently to transfer as many employees as possible and practical to either Fountain or other Brunswick manufacturing facilities. For those employees who do not have the opportunity or do not wish to transfer, severance will be provided.
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Old 03-20-2008, 03:28 PM
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Default Announcement from Brunswick

Brunswick Announces Sale of Baja Marine Assets to Fountain Powerboats
LAKE FOREST, Ill., March 20 /PRNewswire-FirstCall/ -- Brunswick Corporation (NYSE: BC) today announced the signing of a letter of intent to sell certain assets relating to its Baja boat business to Fountain Powerboat Industries, Inc., of Washington, N.C. Terms of the agreement were not disclosed, and completion of the sale is subject to certain conditions. In preparation for the transition, Brunswick plans to end production of Baja boats in Bucyrus, Ohio, by the end of May, consistent with the end of the 2008 model year. As a result of these actions, the company said it estimates that asset write-downs, along with severance and other costs associated with the plant closure, could total between $10 million to $15 million, pre-tax.

"This was a strategic decision to further refine our product portfolio and best focus our resources on brands and marine segments that we believe are core to our success going forward," said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "This action in no way reflects upon Baja or the abilities and performance of the Bucyrus work force. We believe, however, that Baja and its dealers will ultimately benefit from being a part of Fountain Powerboats, a company that, like Baja, is a leader in high-performance boats."

When completed, the closing of the Baja plant will mean a loss of approximately 285 positions. Baja leadership will be working diligently to transfer as many employees as possible and practical to either Fountain or other Brunswick manufacturing facilities. For those employees who do not have the opportunity or do not wish to transfer, severance will be provided.

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; MotorGuide trolling motors; Teignbridge propellers; MotoTron electronic controls; Albemarle, Arvor, Baja, Bayliner, Bermuda, Boston Whaler, Cabo Yachts, Crestliner, Cypress Cay, Harris, Hatteras, Kayot, Laguna, Lowe, Lund, Maxum, Meridian, Ornvik, Palmetto, Princecraft, Quicksilver, Rayglass, Savage, Sea Boss, Sea Pro, Sea Ray, Sealine, Triton, Trophy, Uttern and Valiant boats; Attwood marine parts and accessories; Land 'N' Sea, Kellogg Marine, Diversified Marine and Benrock parts and accessories distributors; IDS dealer management systems; Life Fitness, Hammer Strength and ParaBody fitness equipment; Brunswick bowling centers, equipment and consumer products; Brunswick billiards tables; and Dynamo, Tornado and Valley pool tables, Air Hockey and foosball tables. For more information, visit http://www.brunswick.com.

SOURCE: Brunswick Corporation

CONTACT: Daniel Kubera, Director - Media Relations and Corporate
Communications of Brunswick Corporation, +1-847-735-4617,
[email protected]
Web site: http://www.brunswick.com
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Old 03-20-2008, 03:28 PM
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Makes perfect sense. Fountain now can use the Baja sales volume as a cash source to continue financing development and updating of the Fountain line, and sponsor racing etc. Baja could see technology/design trickle down and continue to be positoned as the value performance boat proposition to buyers but I would assume on a smaller scale than now. Brunswick gets some writeoffs in a down year, cleans up balance sheet, and offloads a non-core piece of its business.
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Old 03-20-2008, 03:32 PM
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With the merger of Baja and Fountain the new name of the company should be " BABEAK "
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Old 03-20-2008, 03:34 PM
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Just do a search online, hot off the presses now. I'm waiting for a news release on Fountains site.
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Old 03-20-2008, 03:39 PM
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Not bad for a guy running a Company that lost $3,972,000 last year.

http://finance.yahoo.com/q/is?s=FPB

Doesn't Brunswick own a good portion of Fountain PB's rear end anyway with that $20 mill loan a year or two back?
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