Brunswick Boat Group To Establish Integrated Manufacturing Center
METTAWA, Ill., April 15, 2019 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC) today announced that its Boat Group will establish its Merritt Island facility in Florida as an Integrated Manufacturing Center. Since the wind-down of Sea Ray Sport Yacht and Yacht production operations at the site last year, the facility has been transitioning to become a hub of operations to support the growth and development of Sea Ray, Boston Whaler and other Brunswick boat brands.
“The Brunswick Integrated Manufacturing Center is an important element of our overall capacity and productivity plans,” said Huw Bower, Brunswick Boat Group president. “Having a facility of this scale with an experienced workforce and a demonstrated commitment to quality and craftsmanship is the fastest and most effective way for our Company to provide for the incremental capacity needed for our business, which also enables us to centralize certain operations to take advantage of economies of scale.”
The Integrated Manufacturing Center will be staffed by approximately 130 employees who will support the scale-up and ongoing production of certain high-demand boat models, such as the Sea Ray SLX 400 Outboard. In addition, the Center will augment the needs of all Boat Group facilities with the insourced production of certain precision parts, assemblies, upholstery and other components supporting higher levels of vertical integration. The facility will also feature two, existing advanced milling machines to support more rapid and agile product development initiatives.
“Utilizing this well-established facility is a clear advantage, and centralizing these operations expands our vertical integration capability and is very efficient from a capital perspective,” explained Bower. “Over time, similar to the Edgewater Fla.-based Fiberglass Boat Technology Center slated to open later in 2019, the Integrated Manufacturing Center will play an important role in the pace and effectiveness of our production and growth plans.”
Certain statements in this news release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick’s business and by their nature address matters that are, to different degrees, uncertain. Words such as “may,” “could,” “expect,” “intend,” “target,” “plan,” “seek,” “estimate,” “believe,” “predict,” “outlook,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this news release. These risks include, but are not limited to: the effect of adverse general economic conditions, including the amount of disposable income consumers have available for discretionary spending, tight consumer credit markets, and the level of consumer confidence on the demand for our products and services; our ability to successfully implement our strategic plan and growth initiatives; our ability to integrate targeted acquisitions, including the Global Marine & Mobile Business of Power Products; the possibility that the proposed Fitness business separation may not provide business benefits, or may not be consummated within the anticipated time period or at all; having to record an impairment to the value of goodwill and other assets; changes to U.S. trade policy and tariffs; the inability to identify and complete targeted acquisitions; the risk that strategic divestitures may not provide business benefits; the potential for disruption to our business in connection with the Fitness business separation or Power Products acquisition, making it more difficult to maintain business and operational relationships; the risk that unexpected costs will be incurred in connection with these transactions; the possibility that the expected synergies and value creation from these transactions will not be realized or will not be realized within the expected time period; negative currency trends, including shifts in exchange rates; fiscal policy concerns; adequate financing access for dealers and customers and our ability to access capital and credit markets; maintaining effective distribution; adverse economic, credit, and capital market conditions; loss of key customers; attracting and retaining skilled labor and implementing succession plans for key leadership; inventory reductions by dealers, retailers, or independent boat builders; requirements for us to repurchase inventory; actual or anticipated increases in costs, disruptions of supply, or defects in raw materials, parts, or components we purchase from third parties, including as a the result of new tariffs on raw materials, increased demand for shipping carriers, and transportation disruptions; higher energy and fuel costs; our ability to protect our brands and intellectual property; absorbing fixed costs in production; managing our manufacturing footprint; outages, breaches, or other cybersecurity events regarding our technology systems, which could result in lost or stolen information and associated remediation costs; our ability to meet pension funding obligations; managing our share repurchases; competitive pricing pressures; our ability to develop new and innovative products and services at a competitive price, in legal compliance with existing rules; maintaining product quality and service standards; product liability, warranty, and other claims risks; legal and regulatory compliance, including increased costs, fines, and reputational risks; changes in income tax legislation or enforcement; certain divisive shareholder activist actions; joint ventures that do not operate solely for our benefit; international business risks; and weather and catastrophic event risks.
Additional risk factors are included in the Company’s Annual Report on Form 10-K for 2018. Forward-looking statements speak only as of the date on which they are made, and Brunswick does not undertake any obligation to update them to reflect events or circumstances after the date of this news release or for changes by wire services or Internet service providers.
Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine and Lankhorst Taselaar marine parts distribution; and Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, NAUTIC-ON, OnBoard Boating Club and Rentals; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT fitness equipment; and Brunswick billiards tables, accessories and game room furniture. For more information, visit https://www.brunswick.com.
FOR IMMEDIATE RELEASE Contact: Lee Gordon Director – Marine Communications & Public Relations Email: firstname.lastname@example.org 904-860-8848
Released April 15, 2019