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Brunswick Closing Plants in 2009

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Brunswick announces plant closures 10/9/2008

Artical From

Brunswick Corp., parent company of Mercury, Triton, Lund, Lowe, Crestliner and many other brands, today announced it will accelerate the rate at which it downsizes to meet diminishing demand in the boating market. In a statement, Brunswick noted: "The company is taking the action in light of extraordinary developments within the global financial markets that are affecting the recreational marine industry."

Brunswick previously announced it would close four plants by early 2009. Under the accelerated plan, the company will permanently close three plants before the end of this year. Those plants are located in Pipestone, Minn., Roseburg, Ore. and Arlington, Wash. A fourth plant, in Navassa, N.C. will be mothballed. Production of the fiberglass boats manufactured in these plants will be transitioned to other Brunswick facilities.

The Arlington, Navassa and Roseburg shutdowns are expected to be completed by the end of 2008, with the Pipestone shutdown expected to be completed during the first quarter of 2009.

"These actions will result in the eventual elimination of approximately 1,450 hourly and salaried positions at these facilities," the company said.

Additionally, Brunswick will temporarily suspend production at three of its boat-manufacturing facilities near Knoxville, Tenn. beginning the week of Oct. 27 and continuing through the remainder of 2008. During this period, the transition of boat models from the plants that are closing into these facilities will begin.

Brunswick chairman and CEO Dustan McCoy said: "We're living and working in the most turbulent economic times in recent history. From the start of the year, we've experienced a 3,500-point drop in the Dow, mortgage and housing crises, record prices for oil, and now, shrinking credit availability for companies and individuals. The poor economy and the accompanying weak consumer sentiment have pressured marine markets, eroding the demand for boats and engines these past few months at a swifter pace than originally anticipated."

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Wow I guess Ill hang on to my boat longer than I thought. This is terrible news for the consumers in our areas and the people losing their jobs not only in Mn.

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