METTAWA, In poor health., Jan. 25, 2021 (GLOBE NEWSWIRE) — Brunswick Company (NYSE: BC) right now introduced that it’s growing manufacturing capability at three of its international boat manufacturing services to satisfy unprecedented client demand and help in replenishing traditionally low area stock ranges.
Brunswick will reopen its 225,000 square-foot Palm Coast, Florida boat manufacturing facility to broaden devoted manufacturing functionality for Boston Whaler merchandise by an extra 40 p.c. The Palm Coast facility, which has been inactive since 2018, was designed for the manufacture of huge boats.
Since 2014, Boston Whaler has invested greater than $60M manufacturing a full line of award-winning new merchandise along with increasing manufacturing capability by 75 p.c throughout that point at its present 550,000 square-foot international headquarters and manufacturing middle in Edgewater, Florida. In 2019 Brunswick additionally opened the 45,000 sq. foot fiberglass boat know-how middle in Edgewater, dwelling to the trade’s premier boat product growth, engineering and design groups.
As well as, Brunswick is increasing boat manufacturing capability at each its Reynosa, Mexico and Vila Nova Cerveira, Portugal services. The Reynosa facility, which manufactures Bayliner, Heyday, Sea Ray and Lund fiberglass boats, will enhance capability by 58 p.c over the following 18 months, working seven days every week and including an extra 260 staff. The Vila Nova growth plan is effectively underway and, over the following three years, will greater than double manufacturing capability on the facility, which manufactures Bayliner, Uttern and Quicksilver merchandise for the European market.
“We’re dedicated to assembly the rising demand of our international clients and have a direct have to broaden capability within the face of unprecedented retail demand and really low pipelines throughout all product traces, particularly for our fiberglass merchandise,” mentioned Dave Foulkes, Brunswick Company CEO. “Investing further capability in Florida, Mexico and Portugal permits us to rapidly enhance manufacturing and undertake additional vertical integration as we proceed to develop market share and have interaction with new boaters.”
“We checked out varied choices to considerably broaden manufacturing capability rapidly and with environment friendly funding ranges”, mentioned Aine Denari, President, Brunswick Boat Group. “Increasing Boston Whaler manufacturing by reopening the Palm Coast facility gives quick entry to new capability for a fraction of the price of constructing a brand-new facility.”
Boston Whaler at the moment employs greater than 1,200 staff in Edgewater and can add an extra 300-400 jobs over the following 18-24 months at Palm Coast; a brief distance from the Edgewater web site. The primary boats will come off the manufacturing line on the Palm Coast facility within the second half of 2021.
Headquartered in Mettawa, In poor health., Brunswick Company’s main client manufacturers embrace Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury international components and equipment together with propellers and SmartCraft electronics; Energy Merchandise Built-in Options; MotorGuide trolling motors; Attwood, Garelick, and Whale marine components; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine, and Lankhorst Taselaar marine components distribution; Mercury and Quicksilver components and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Heyday, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Providers Community, Freedom Boat Membership, NAUTIC-ON, OnBoard Boating Membership and Leases. For extra data, go to https://www.brunswick.com.
Sure statements on this information launch are forward-looking statements as outlined within the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements are primarily based on present expectations, estimates, and projections about Brunswick’s enterprise and by their nature deal with issues which are, to totally different levels, unsure. Phrases comparable to “might,” “may,” “ought to,” “anticipate,” “anticipate,” “venture,” “place,” “intend,” “goal,” “plan,” “search,” “estimate,” “consider,” “predict,” “outlook,” and related expressions are meant to establish forward-looking statements. Ahead-looking statements are usually not ensures of future efficiency and contain sure dangers and uncertainties which will trigger precise outcomes to vary materially from expectations as of the date of this information launch. These dangers embrace, however are usually not restricted to: the impact of opposed basic financial circumstances, together with the quantity of disposable earnings shoppers have out there for discretionary spending; adjustments in forex trade charges; fiscal coverage considerations; opposed financial, credit score, and capital market circumstances; larger vitality and gas prices; aggressive pricing pressures; the coronavirus (COVID-19) pandemic, together with, with out limitation, the influence on international financial circumstances and on capital and monetary markets, adjustments in client conduct and demand, the potential unavailability of personnel or key services, modifications to our operations, and the potential implementation of regulatory actions; managing our manufacturing footprint; climate and catastrophic occasion dangers; worldwide enterprise dangers; our potential to develop new and modern services at a aggressive worth; our potential to satisfy demand in a quickly altering atmosphere; lack of key clients; precise or anticipated will increase in prices, disruptions of provide, or defects in uncooked supplies, components, or parts we buy from third events, together with because of pressures as a result of pandemic; provider manufacturing constraints, elevated demand for transport carriers, and transportation disruptions; absorbing fastened prices in manufacturing; joint ventures that don’t function solely for our profit; our potential to efficiently implement our strategic plan and progress initiatives; attracting and retaining expert labor, implementing succession plans for key management, and executing organizational and management adjustments; our potential to establish, full, and combine focused acquisitions; the danger that strategic divestitures is not going to present enterprise advantages; sustaining efficient distribution; sufficient financing entry for sellers and clients; necessities for us to repurchase stock; stock reductions by sellers, retailers, or impartial boat builders; dangers associated to the Freedom Boat Membership franchise enterprise mannequin; our potential to guard our manufacturers and mental property; outages, breaches, or different cybersecurity occasions relating to our know-how techniques, which may have an effect on manufacturing and enterprise operations and will lead to misplaced or stolen data and related remediation prices; managing our share repurchases; sure divisive shareholder activist actions; adjustments to U.S. commerce coverage and tariffs; having to document an impairment to the worth of goodwill and different belongings; product legal responsibility, guarantee, and different claims dangers; authorized and regulatory compliance, together with elevated prices, fines, and reputational dangers; and adjustments in earnings tax laws or enforcement.
CONTACT: Lee Gordon Vice President – Brunswick World Communications & Public Relations Brunswick Workplace: 847-735-4003 Mercury Workplace: 920-924-1808 Cell: 904-860-8848 [email protected]