Exhibit
99.2
| Brunswick
Corporation 1 N. Field Court Lake Forest, IL
60045 |
| Telephone
847.735.4700 Fascimile 847.735.4750 |
| www.brunswick.com |
| Release: |
IMMEDIATE |
| Contact: |
Kathryn Chieger |
| |
Vice President - Corporate and Investor
Relations |
| Phone:
|
847-735-4612 |
BRUNSWICK
PURSUES SALE OF NEW TECHNOLOGIES UNIT;
BOARD
AUTHORIZES $500 MILLION SHARE REPURCHASE PROGRAM
LAKE
FOREST, Ill., April 27, 2006 - Brunswick
Corporation (NYSE: BC) announced today it intends to sell substantially all
of
its Brunswick New Technologies (BNT) business unit. This business unit’s
products are primarily based on GPS technologies and sold in the portable
consumer navigation, fleet tracking, and automotive and marine markets. The
company said it has retained Merrill Lynch & Co. to act as its financial
advisor in connection with the sale.
“This
business unit has experienced exceptional growth under Brunswick’s ownership
over the past few years - especially in the portable land-based navigation
segment,” said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy.
“As we become increasingly focused on our core business segments - marine,
fitness, bowling and billiards - we have determined that continuing to invest
in
this business unit to fuel growth is not consistent with our long-term strategic
objectives. We believe that BNT’s excellent 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.”
BNT
operations included in the proposed sale consist primarily of its Navman,
Northstar and MX Marine brands. The company said it would retain MotoTron,
which
designs
and supplies sophisticated engine control and vehicle networking systems, IDS
Integrated Dealer Systems, which provides management systems to marine and
other
dealerships, and technologies and engineering talent related to connectivity
features in Brunswick’s fitness products.
The
company also announced that its board of directors has authorized the repurchase
of up to $500 million of the company’s outstanding common stock. Share
repurchases will be made from time to time in the open market or through
privately negotiated transactions, based on market conditions. This
authorization supplants the $200 million authorization approved by the board
in
May 2005, under which the company repurchased approximately 3.6 million shares
for approximately $137.8 million. The company currently has approximately 94.5
million shares outstanding.
About
Brunswick
Headquartered
in Lake Forest, Ill., Brunswick Corporation endeavors to instill "Genuine
Ingenuity"™
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, Lowe, Lund, Maxum, Meridian, Örnvik, 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, 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 www.brunswick.com
