Corporate and Financial
Brunswick Announces Agreement to Sell Brunswick New Technologies' Marine Electronics Unit
LAKE FOREST, Ill., Feb. 14 /PRNewswire-FirstCall/ -- Brunswick Corporation
(NYSE: BC) today announced it has signed a definitive agreement to sell
Brunswick New Technologies' marine electronics operations to Navico
International Ltd. The purchase will include the Northstar, MX Marine and
Navman marine brands. Terms of the transaction were not disclosed.
Completion of the sale is subject to regulatory approvals.
Navico, based in Lysaker, Norway, is a leading supplier of marine
electronics with its Lowrance, Simrad, Eagle and B&G marine electronics
brands.
"When we announced our intent to sell portions of Brunswick New
Technologies (BNT), we stated at that time that we believed that BNT's long-
term prospects may be better achieved under different ownership -- one that is
focused on BNT's technological expertise -- to enable it to reach its full
potential," explained Dustan E. McCoy, Brunswick chairman and chief executive
officer. "As such, we are particularly pleased to find such a strategic buyer
who already has a significant presence in the global marine electronics
marketplace."
The company said the transaction also includes a supply agreement whereby
Brunswick will purchase Navico products.
Brunswick announced in April 2006 its decision to pursue the sale of
substantially all of its BNT business unit, which includes fleet management,
marine electronics and portable navigation device (PND) products. The company
said it is continuing to pursue the sale of the fleet management and PND
segments of the business.
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, HarrisKayot, Hatteras, 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 Valley-Dynamo pool, 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, +1-847-735-4617
Web site: http://www.brunswick.com
