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Baja Shut Down Article In Trade Mag

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Old 03-21-2008, 03:10 PM
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Default Baja Shut Down Article In Trade Mag

Brunswick selling Baja brand to Fountain
Brunswick Corp. plans to close its Baja plant in Bucyrus, Ohio, and sell the high-performance boat business to Fountain Powerboats. Terms were not disclosed.

Brunswick late Thursday afternoon said a letter of intent to sell its Baja assets had been signed, although completion of the sale is subject to certain unspecified conditions.

Lake Forest, Ill.-based Brunswick intends to end Baja production by the end of May, consistent with the close of the 2008 model year. The plant shutdown, when completed, will mean a loss of about 285 jobs.

“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 CEO Dustan E. McCoy, in a statement. "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.”

Brunswick says it will strive to transfer as many employees as possible to other Brunswick plants, or to the Fountain plant in Washington, N.C. Employees unable or unwilling to transfer will receive severance pay, according to Brunswick.

Brunswick estimates asset writedowns, along with severance pay and other costs associated with the plant closure, could total between $10 million and $15 million, pre-tax.
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Old 03-21-2008, 03:12 PM
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Just Got My Trade Today Online And Posted This Article
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Old 03-21-2008, 03:27 PM
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WOW Who would have ever thought this would happen
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Old 03-21-2008, 03:48 PM
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So I guess Fountain will be building budget oriented speed boats now...........or Baja boats will be going up in price. Who knows, possibly just another way for old Reg to make a dollar, as he has a decent line, but not many shelling out the bucks to buy a new one.
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Old 03-21-2008, 04:02 PM
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This is interesting

http://www.bucyrustelegraphforum.com...EWS01/80321002

Fountain Powerboats CEO hasn’t ruled out making boats at local plant

By Anthony Conchel

Telegraph-Forum Editor

BUCYRUS — The chairman and CEO of Fountain Powerboats has not ruled out the possibility of making boats at the local Baja Marine facility.
Reggie Fountain, in an exclusive interview with the Telegraph-Forum Friday afternoon, said he will visit the Bucyrus plant soon.

“We’re coming up there in the next week or two ... to walk through the plant and meet the workers. We’ve not yet made any decision on where we’ll build the boats,” Fountain said.

Located on the North Carolina coast, Fountain Powerboats makes sports boats, fishing boats and cruisers.

On Thursday Brunswick announced it was selling the local plant to Fountain’s company. About 285 people would lose their jobs in a permanent layoff by May 23.

“We’ve not decided if we’ll make them down here, in Bucyrus or anywhere else in the country,” Fountain said.

“We’re gonna take a look at it and see what makes sense.”
Baja, which opened in Bucyrus in 1956, has undergone expansions and layoffs over the years.

Fountain said no one from the city of Bucyrus or Crawford County had contacted him about the future.

“They all need to call me up,” he said.

He added the past few days have been “a really busy time. I’m all over the place, in planes or in meetings.”

Mayor Dan Ross said he intended to call Fountain immediately.

“That’s definitely a positive sign. I’m going to call him right away,” he said.

Ross added, “We can’t afford to lose employees and we want them to be assured that Dave Williamson (Crawford County Economic Development director) and I will do as much as we can to keep as many jobs here as we can.”

Fountain said he understands the uncertainty that surrounds Baja Marine and its workforce.

“I’m happy to entertain any propositions or discussions they might have. We spent a few hours there (Bucyrus) and didn’t really get to meet too many of the people. We’re coming back to look.

“Jobs come at a premium today, don’t they?” he said.

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Originally published March 21, 2008
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Old 03-21-2008, 04:16 PM
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Maybe A Selloff Of All Molds And A New Company Starts
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Old 03-21-2008, 04:20 PM
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I think Reggie just wants to go up and meet RG3
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Old 03-21-2008, 04:25 PM
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indeed it is wild, we got another thread going on we should merge the treads together speedgirl.....
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