Brunswick, GE Extend Joint Venture for Five More Years
June 11 2008 - 10:45AM
PR Newswire (US)
LAKE FOREST, Ill., June 11 /PRNewswire-FirstCall/ -- Brunswick
Corporation (NYSE:BC) and GE Capital Solutions (NYSE:GE) announced
today a five-year renewal of their joint venture, Brunswick
Acceptance Company (BAC). The joint venture was formed in 2002, and
began operations in 2003 with the goal of providing a stable,
long-term source of wholesale floor plan financing for Brunswick
boat dealers. "BAC's goal remains the same," said Scott Danahey,
BAC general manager. "We are committed to providing market-leading
products and service to Brunswick marine dealers." BAC has
operations in Knoxville, Tenn., and Fond du Lac, Wis., and has
become the largest floor plan finance provider for Brunswick boat
brands and Mercury Marine engines in the U.S., and one of the
largest providers of wholesale financing programs and service to
the marine industry. "We have been extremely pleased with the
results and performance of this joint venture," said William
Metzger, Brunswick vice president and treasurer. "The venture has
been a successful partnership between two industry leaders. BAC
brings together the resources of the world's largest marine company
with GE Capital Solutions, a leading provider of distribution
finance services. Together, we remain focused using our experience
and expertise to benefit our customers." "Our relationship with our
dealers goes beyond providing just great boats and engines.
Brunswick has long believed that as our dealers prosper, so will
we," explained Dustan E. McCoy, Brunswick chairman and chief
executive officer. "BAC is an important part of our commitment to
serving our dealers, just one of several important tools and
support we offer them." "For over 30 years, GE has been dedicated
to serving the marine industry and is committed to our customers,"
echoed Bruce Van Wagoner, president of GE Capital Solutions' Marine
Group. "Through BAC we will continue to provide attractive
financial solutions to Brunswick marine dealers. Further, GE is a
proud member and supporter of several marine industry associations
and continues to provide significant leadership, resources and
capital to help grow the industry and our partners." About
Brunswick Headquartered in Lake Forest, Ill., Brunswick Corporation
endeavors to instill "Genuine Ingenuity"(TM) in all its leading
consumer brands, including Mercury and Mariner outboard engines;
Mercury MerCruiser sterndrives and inboard engines; MotorGuide
trolling motors; Teignbridge propellers; MotoTron electronic
controls; Albemarle, Arvor, Bayliner, Bermuda, Boston Whaler, Cabo
Yachts, Crestliner, Cypress Cay, Harris, Hatteras, Kayot, Laguna,
Lowe, Lund, Maxum, Meridian, Ornvik, Palmetto, Princecraft,
Quicksilver, Rayglass, Savage, Sea Boss, Sea Pro, Sea Ray, Sealine,
Triton, Trophy, Uttern and Valiant boats; Attwood marine parts and
accessories; Land 'N' Sea, Kellogg Marine, Diversified Marine and
Benrock parts and accessories distributors; IDS dealer management
systems; Life Fitness, Hammer Strength and ParaBody fitness
equipment; Brunswick bowling centers, equipment and consumer
products; Brunswick billiards tables; and Dynamo, Tornado and
Valley pool tables, Air Hockey and foosball tables. For more
information, visit http://www.brunswick.com/. About GE Capital
Solutions, Commercial Distribution Finance GE Capital Solutions,
Commercial Distribution Finance, is a leading provider of
specialized financing products and services for various industries.
Offerings include inventory financing, accounts receivable
financing, asset-based lending, private label financing, collateral
management, e-commerce services and related financial products.
Additional information about CDF can be found online at
http://www.ge.com/cdf. GE Capital Solutions provides leasing,
lending and capital investment products and services to help
business customers grow. It has over $100 billion in assets, serves
more than 1 million clients around the world and is headquartered
in Danbury, Conn., USA. For more on GE Capital Solutions, go to
http://www.ge.com/capitalsolutions. GE (NYSE:GE) is Imagination at
Work -- a diversified technology, media and financial services
company focused on solving some of the world's toughest problems.
For more information, visit the company's Web site at
http://www.ge.com/. DATASOURCE: Brunswick Corporation CONTACT:
Daniel Kubera, Director - Media Relations and Corporate
Communications of Brunswick Corporation, +1-847-735-4617, ; or Beth
Revers, Commercial Distribution Finance of GE Capital Solutions,
+1-847-747-7766, Web site: http://www.brunswick.com/
http://www.ge.com/
Copyright
Brunswick (NYSE:BC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brunswick (NYSE:BC)
Historical Stock Chart
From Jul 2023 to Jul 2024