Navico closes Brunswick deal
By IBI Magazine
Navico International has announced that it has closed the deal to acquire the marine electronics business of Brunswick New Technologies (BNT), which includes the Northstar, MX Marine and Navman brands. As a result, Navico (which manufactures and distributes the Simrad, Lowrance, B&G and Eagle brands in more than 50 countries worldwide) now serves as one of the leading suppliers of marine electronics. It has also reinforced its position in the US and Asia Pacific markets.
"As a logical strategic home for these brands, Navico will apply its technological expertise and market power to realise their full potential in the market place," says newly appointed CEO Jens Thomas Pietralla. "The strong technical and operational background gained from combining our resources will bolster Navico's development program and create further positive synergies within the group."
According to a company statement, efficient execution and high-quality deliveries will be achieved through increased scale and focus on sales and marketing, R&D, manufacturing and logistics. The two companies have also entered into a supply agreement that will see Navico continue to provide marine electronics solutions to the Brunswick Boat Group.
(15 March 2007)
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