Marine
Brunswick, GE Extend Joint Venture for Five More Years
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.
SOURCE: Brunswick Corporation
CONTACT: Daniel Kubera, Director - Media Relations and Corporate
Communications of Brunswick Corporation, +1-847-735-4617,
daniel.kubera@brunswick.com; or Beth Revers, Commercial Distribution Finance
of GE Capital Solutions, +1-847-747-7766, beth.revers@ge.com
Web site: http://www.brunswick.com
http://www.ge.com
