Brunswick to Sell Hatteras, Cabo Focus on Sea Ray and Meridian Yachts

[Buckeye Boater]

More restructuring for Brunswick Corp.

http://www.tradeonlytoday.com/home/523301-brunswick-to-sell-hatteras-and-cabo

 

[jason78]

I wonder who is going to be able to buy them? Probably a Chineese company. Not sure anyone else could do it right now.

 

[Southpaw II]

Word must have leaked....their stock recently jumped to $31 a share.

Don

 

[mistercomputerman]

There is a bigger story in that article:

The move came just a few hours after the company said Rob Parmentier, the president of Sea Ray, another of the group’s brands, has stepped down to pursue other opportunities.

 

[jason78]

There is a bigger story in that article:

The move came just a few hours after the company said Rob Parmentier, the president of Sea Ray, another of the group’s brands, has stepped down to pursue other opportunities.

No kidding, I completely missed that!! I wonder with all the downsizing if Sea Ray will end up just being controlled by some VP at Brunswick. Makes me more glad I went to Homecoming to meet all these people and see the Sea Ray family experience before they were all let go.

Sad days indeed at Sea Ray. Although I feel bad for Rob, I feel certain he was well taken care of on the way out. I really feel for all the plant workers that were let go as a part of this downsizing as I feel certian they were not as well taken care of on the way out.

 

[MonacoMike]

There is a bigger story in that article:

The move came just a few hours after the company said Rob Parmentier, the president of Sea Ray, another of the group’s brands, has stepped down to pursue other opportunities.

We already had a thread on that. Although it was not in the title...

http://clubsearay.com/showthread.php/56940-Sad-News-for-Sea-Ray

MM

 

[kkalsch]

Here is the local news....http://www.jdnews.com/news/local/update-hatteras-yachts-up-for-sale-1.73371

 

[Phlorida]

Here is the local news....http://www.jdnews.com/news/local/update-hatteras-yachts-up-for-sale-1.73371

There is a discrepancy between two comments made in the article. Brunswick Chairman and Chief Executive Officer Dustan E. McCoy said: “… The current plan assumes that the eventual purchaser will retain both the physical plant and the talented workforce of Hatteras/CABO." and "Hatteras Yachts is laying off 105 workers at its plant in New Bern....."

 

[KayKook]

This has been in the works for some time. The timing is based on the Fiscal Cliff decision, and with Cabo/Hatteras accounting
for $30 million loss to BBG, it had to happen.
Hopefully a domestic investment group that has people with a passion for sportfishing boats and MY's will be able to pick up
the brands and move forward. These two builders are my company's largest customer, with Sea Ray running a close 2nd.

 

[rcknecht]

Does the liabilities outweigh the value of Hatteras and Cobo? How does Brunswick expect to make a profit? May be I just don't get it, but I think new boat prices are too high. The Venture is a nice boat, but who has 1/2 a Mil for a 34' boat? I hope Sea Ray gets sold. It is too good to be used as a cash cow for Brunswick...

 

[KayKook]

BBG bought Hatteras in 2001 for $80 million, and Cabo in 2006 for $60 million. Even at those old prices, I would not think the liability is greater than the value. But we shall see. They expect to make a profit by only making what sells, not making what sells and what "might" sell, as they have for too many years, and it's now biting them in the arse.