Brunswick Announces Agreement to Sell Brunswick New Technologies' Portable Navigation Device Unit
LAKE FOREST, Ill., Feb. 22 /PRNewswire-FirstCall/ -- Brunswick Corporation (NYSE: BC) today announced it has signed a definitive agreement to sell Brunswick New Technologies' portable navigation device (PND) operations to MiTAC International Corporation. The purchase will be for the PND operations of the Navman brand. Terms of the transaction were not disclosed. Completion of the sale is subject to regulatory approvals.
Based in Taiwan, MiTAC is a leading manufacturer of personal computers, servers and mobile telecommunications devices. MiTAC has manufacturing operations in Taiwan and the People's Republic of China, as well as assembly centers in the United States, United Kingdom, Belgium, Germany and Japan. Its products are sold around the world.
"We are pleased to have found a strategic buyer with expertise and technologies central to PND products," said Dustan E. McCoy, Brunswick chairman and chief executive officer. "We believe such a buyer is more apt to fully appreciate every segment of the business and will be able to focus on this business' technological expertise, helping it reach its full potential."
Brunswick announced in April 2006 its decision to pursue the sale of substantially all of its BNT business unit. PND is the second of three main areas of BNT operations to attract buyers recently. Navico International Ltd., based in Norway, recently agreed to buy BNT's marine electronics brands, including MX Marine, Northstar and relevant operations of Navman. Efforts to sell Navman's remaining fleet management operations continue.
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
Released February 22, 2007