BRP Completes Acquisition of Telwater, Australian Leader in Aluminum Boats
August 01 2019 - 12:54AM
BRP (TSX:DOO; NASDAQ:DOOO), announced today the completion of the
previously-announced acquisition of 80% of the outstanding shares
of Telwater Pty, Ltd ("Telwater"), Australia's leading manufacturer
of aluminum boats and trailers.
As BRP’s third boat acquisition, Telwater’s
addition to the Marine Group is another step in helping create a
strong offering and foundation to expand into new markets, with the
objective of transforming the marine industry as it did for
powersports.
"We are extremely pleased to welcome Telwater
employees in the BRP family. This first acquisition for the Marine
Group outside the United States is another milestone in our plan to
become a global leader in this industry", mentioned José Boisjoli,
President and CEO of BRP.
The Telwater commitment to excellence and its
reputation for reliability complement perfectly BRP’s
state-of-the-art manufacturing expertise and innovation. This
acquisition brings the BRP Marine Group one step closer in its
quest to becoming a leader in the boating industry, building and
integrating boats and engines to give consumers an unparalleled
experience on the water.
For additional information on Telwater, visit
telwater.com
To read the first press release on the subject,
visit brp.com
About BRP
We are a global leader in the world of
powersports vehicles, propulsion systems and boats built on over 75
years of ingenuity and intensive consumer focus. Our portfolio of
industry-leading and distinctive products includes Ski-Doo and Lynx
snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles,
Alumacraft and Manitou boats, Evinrude and Rotax marine propulsion
systems as well as Rotax engines for karts, motorcycles and
recreational aircraft. We support our lines of product with a
dedicated parts, accessories and clothing business to fully enhance
your riding experience. With annual sales of CA$5.2 billion from
over 120 countries, our global workforce is made up of
approximately 12,500 driven, resourceful people.
www.brp.com
@BRPNews
Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am,
Alumacraft, Manitou, Telwater and the BRP logo are trademarks of
Bombardier Recreational Products Inc. or its affiliates. All other
trademarks are the property of their respective owners.
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTS
Certain statements included in this release,
including, but not limited to, statements relating to the Marine
Group of BRP and other statements that are not historical facts,
may be "forward-looking statements" within the meaning of Canadian
securities laws. Forward-looking statements are typically
identified by the use of terminology such as "may", "will",
"would", "could", "expects", "plans", "intends", "anticipates" or
"believes" or the negative or other variations of these words or
other comparable words or phrases. Forward-looking statements, by
their nature, are based on assumptions, and are subject to
important risks and uncertainties. Forward-looking statements
cannot be relied upon due to, amongst other things, changing
external events and general uncertainties of the business. Actual
results may differ materially from results indicated in
forward-looking statements due to a number of factors, including
those identified in BRP's annual information form and management's
discussion and analysis of financial condition and results of
operations. The forward-looking statements contained in this
release represent BRP's expectations as of the date of this release
(or as of the date they are otherwise stated to be made), and are
subject to change after such date. However, BRP disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required under applicable securities
regulations.
For media enquiries: Elaine
Arsenault Senior Advisor, Media RelationsTel.:
514.732.7092medias@brp.com
For investor relations:Philippe
DeschênesManager Treasury and Investor RelationsTel.:
514.732.7047philippe.deschenes@brp.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/06ea069c-f2ae-4c55-a1a6-6690099200d6
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