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Article: Brunswick to buy yacht maker.(Business)
- Article from:
- Daily Herald (Arlington Heights, IL)
- Article date:
- October 25, 2001
- Author:
CopyrightCOPYRIGHT 2001 Paddock Publications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Elisabeth Carrel Daily Herald Business Writer
Brunswick Corp. said Wednesday it has agreed to acquire Hatteras Yachts Inc. from Genmar Industries Inc. for about $80 million in cash. The move is part of a strategy to expand its marine engine, pleasure boat, fitness equipment, bowling and billiards businesses.
The Lake Forest-based company also will trim jobs and idle some plants, as its third-quarter profit fell 65 percent.
Brunswick will close a Sea Ray plant in Phoenix and cut about 370 jobs there, less than 2 percent of its workforce, spokesman Dan Kubera said. Brunswick plans additional cuts and closings, but hasn't specified where ...