July 8, 2019

BrunswickFollowing the completion of the Fitness business sale to KPS Capital Partners, LP, Brunswick Corporation (NYSE: BC) announced on June 27th that it has initiated a range of measures to streamline its cost structure to support sustained earnings growth and provide continued headroom to fund important product, digital, and growth-oriented business initiatives.  

The announcement focuses primarily on completed near-term rightsizing of corporate and enterprise support functions consistent with Brunswick’s new marine-only focus.  Details of an additional and more comprehensive set of initiatives will be included in the materials for Brunswick’s second-quarter earnings call scheduled for July 25, 2019.

The completed actions announced June 27 will lower costs on a run-rate basis by approximately $17 million and will begin to provide cost benefits in the second half of 2019.  These actions include the elimination of over 100 positions in general and administrative functional support, and the consolidation of two Chicago area office facilities.

In connection with these activities, Brunswick expects to record restructuring charges of approximately $6 million in 2019; with about one half recorded in the second quarter. 

“These decisions, many of which will directly affect our colleagues and co-workers, are not taken lightly and we deeply appreciate the commitment and contributions of our employees,” Brunswick Chief Executive Officer David M. Foulkes said.  “Throughout the Fitness sale process, we have been thoughtfully planning and preparing for our future as a more focused marine enterprise.  With the Fitness sale complete, we believe these measures are necessary to appropriately structure our organization going forward and invest in initiatives to drive growth as we reinforce our commitment to deliver industry-leading technology, service and quality to our customers,” Foulkes added. 

Featured Articles

  • Prev
Recently, I was at Toronto's Outer Harbour Marina with Gautier Peers, Sales Manager for Seabin at ...
As boaters we all have a very unique connection to the water and all the opportunities it presents. ...
Over 30 years ago, Bill Daniell, President of Kaitlin Corporation had a vision to create a ...
The International BoatBuilders’ Exhibition and Conference (IBEX), announced today the details ...
The American Boat and Yacht Council (ABYC) is hosting their first “Marine Service ...
Announced on June 18, the exciting new Mercury Racing 450R outboard is purpose designed to bring ...
PORTS The Cruising Guides have been acquired from Metroland Printing Publishing & Distributing ...
Orillia’s Spring Boat, Cottage & Outdoor Show at the Port of Orillia and waterfront parks, Lake ...
Seattle’s 41st annual Lake Union Boats Afloat Show gets underway on Thursday, September 12 and ...
The Boating Ontario team would like to thank all those who participated and contributed to this ...

THE KAITLIN CORPORATION CELEBRATES GRAND OPENING OF THE BOWMANVILLE MARINA

 

Kaitlin Marine CorpStory: Greg Nicoll

Over 30 years ago, Bill Daniell, President of Kaitlin Corporation had a vision to create a series of master-planned resort style communities in Clarington Ontario. On June 19th was the Grand Opening Celebration of the Bowmanville Marina, (formerly known as the Port Darlington Marina) now owned by The Kaitlin Corporation.

There has been a great deal investment in the marina with the complete refurbishment of the Inns and suites, restaurant and event space with a capacity to host 30 to 300 people to suit a wide range of events. 

Read more about Bowmanville Marina............

 

Marine Products

  • Prev
A new, powerful WASSP F3X professional multibeam sonar package has been released for fisherman and ...
Minor leaks in pontoons are common but left unattended, the accumulated weight decreases boat speed ...
Lowrance, a world-leader in fishing electronics since 1957, announced the next step in Lowrance’s ...
Furuno USA has announced a software update for NavNet TZtouch2 that enables use of the popular CMOR ...
MotorGuide has announced the introduction of two new revolutionary and industry-leading trolling ...
With the new Carbon model, SUNBEAMsystem offers a resilient solar panel with a very quick and ...
Oceanic Systems (UK) Ltd has gained huge success following Raymarine's latest LightHouse ...
As first serial yacht manufacturer worldwide, German HanseYachts AG from Greifswald presents in ...
Few tasks on a boat can be as frustrating as trying to open a tightly-sealed deck plate with bare ...
Rancho Santa Margarita, CA - Forespar has just introduced a new smaller size version of their ...

People

  • Prev
Navico, parent company to the Lowrance®, Simrad®, B&G® and C-MAP® brands has announced that its ...
George Armendariz, CEO of Groupe Beneteau Americas, announced today the appointment of Yannick ...
According to the Minneapolis Star Tribune on April 10 2019, Irwin Jacobs and his wife were found ...
Co2 Inflatables is pleased to announce that Jason Edwards, formerly of Grand/Gala Marine, will be ...
Marine electronics pioneer Darrell Lowrance, 80, passed away Saturday morning after suffering a ...
Extremely popular and well respected for leading the reemergence of Iconic Marine's three ...