Corporate and Financial
Brunswick Signs Agreement to Sell Fleet Management Segment of Its New Technologies Unit
LAKE FOREST, Ill., July 16 /PRNewswire-FirstCall/ -- Brunswick Corporation
(NYSE: BC) today announced that it has reached a definitive agreement to sell
Brunswick New Technologies' (BNT) fleet management business unit to Navman
Wireless Holdings L.P. Terms of the transaction were not disclosed, and
completion of the sale is subject to customary conditions.
Navman Wireless Holdings was formed by Prairie Capital, a Chicago-based
private equity firm, to acquire the business. The current members of BNT's
executive team will continue to manage Navman Wireless.
Previously, Brunswick had sold the marine electronics portion of BNT to
Navico International Ltd., while the segment serving the personal navigation
device market was purchased by MiTAC International Corporation. Brunswick
began the process of selling BNT in April 2006.
"This transaction will essentially bring the sale of the BNT business
units to a close," explained Dustan E. McCoy, chairman and chief executive
officer of Brunswick. "For Brunswick, we are able to go forward more focused
upon our core businesses, while the fleet management operations begin a new
phase with the benefit of having the existing senior BNT management team at
the helm."
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, Harris, Hatteras, Kayot, Laguna, Lowe, Lund, Maxum,
Meridian, Ornvik, Palmetto, Princecraft, Quicksilver, 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: Dan Kubera, Director - Media Relations and Corporate
Communications of Brunswick Corporation, +1-847-735-4617
Web site: http://www.brunswick.com
