Navico Agrees to Buy Brunswick New Technologies' Marine Electronics, Creating the World Leader in Marine Electronics for Recreational Boats.MX Marine, Navman marine and Northstar Add Three Brands with Complementary Product Offerings to Navico's Portfolio, Strengthening the Company's Position in the US and Asia LYSAKER/OSLO, Norway -- Navico International Ltd. agreed to acquire the marine electronics business of Brunswick New Technologies (BNT BNT Bentley Pharmaceuticals, Inc. (stock symbol) BNT Boston Naming Test (psychology) BNT Bermuda National Trust BNT Bulgarian National TV BNT Broadband Network Termination BNT Binary File Transfer ), a unit of Brunswick Corporation The Brunswick Corporation NYSE: BC, formerly known as the Brunswick-Balke-Collender Company, is a United States-based corporation that has been involved in manufacturing a wide variety of products since 1845. It had 2006 sales of US$5. (NYSE NYSE See: New York Stock Exchange : BC). Subject to regulatory approvals, this transaction, which is expected to close during March 2007, will create the world's largest supplier of marine electronics for recreational boats. Included in the agreement are the three brands MX Marine, Navman marine and Northstar. The combined businesses had revenues of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 50 million in 2006 with primary operating facilities in New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Australia, and the United Kingdom. "We are truly excited to add these three highly-regarded brands to the Navico range, thus forming the clear global leader in marine electronics for recreational boats with an estimated market share of 25 percent. MX Marine, Navman marine and Northstar will further strengthen Navico's house of brands strategy which includes already the renowned B&G, Eagle, Lowrance and Simrad brand names. The new companies will expand Navico's commitment to providing performance, safety and enjoyment on the water," said Jens-Thomas Pietralla, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Navico. MX Marine has a 30-year heritage in providing high precision navigation systems A GPS-based electronic system in a car or truck that provides a real time map of the vehicle's current location as well as step-by-step directions to a programmed destination. See GPS and vehicle tracking. for commercial and government vessels. Navman marine offers a portfolio of marine electronics products and GPS solutions, designed and manufactured in New Zealand, and has established a leading market position in Australasia as well as a strong presence in Europe over the last 15 years. Northstar has been a leader in the US marine electronics industry for over 35 years, and now offers a range of solutions that combine navigation, radar, and entertainment functionality. Boat builders Boat Builders redirects here. That is also the name of a 1938 Disney cartoon, shown before a presentation of Meet The Robinsons. Fishing boats
"With this acquisition, Navico will expand its product line-up with key innovations out of Brunswick marine electronics' portfolio, which is known for its design and user-friendliness - an area of increasing importance in light of growing functionality and convergence of devices," said Pietralla. "This deal will further strengthen our presence in the Asia Pacific markets, which are expected to be a major source of growth for the marine electronics industry." As part of the transaction, Brunswick will enter into a supply agreement with Navico, which secures a close partnership with all Navico brands to supply leading-edge technology to the Brunswick Boat Group. About Navico (www.navico.com) Navico is the parent company to four well established marine electronics brands: B&G, Eagle, Lowrance and Simrad. Navico has 2,500 employees and has revenues of approx. USD 300M. Navico is headquartered in Lysaker, near Oslo in Norway. The company has development and manufacturing facilities in Tulsa USA, Ensenada Mexico, Egersund Norway, Stovring Denmark and Romsey UK. |
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