Brunswick Sells BNT Marine Electronics Unit To Navico.
By IBI Magazine/Michael Verdon
Brunswick Corporation announced today that it had signed a definitive
agreement to sell its Brunswick New Technologies (BNT) marine electronics
division to Navico International. The purchase will include the Northstar,
MX Marine and Navman marine brands. A Brunswick statement noted that
the terms of the transaction were not disclosed. The statement said
that BNT's fleet management and PND divisions are being sold separately.
Navico manufactures and distributes the Simrad, Lowrance, B&G and Eagle brands, which are distributed in more than 50 countries all over the world. Navico has approximately 2,500 employees and is set to reach a turnover of nearly NOK 2 billion in 2006.
"When we announced our intent to sell portions of Brunswick New Technologies, we stated at that time that we believed that BNT's long-term prospects may be better achieved under different ownership to enable it to reach its full potential," said Dustan E. McCoy, Brunswick chairman, in a statement. "As such we are particularly pleased to find such a strategic buyer who already has a significant presence in the global marine electronics marketplace."
The statement noted that Brunswick will continue to buy Navico products.
Feb 2007