Brunswick Corporation Announces Global Consolidation of Fiberglass Boat Manufacturing Footprint
Brunswick will shutter two boat production plants as part of a global consolidation strategy.
Brunswick Corporation (NYSE:BC), a leading manufacturer of marine and recreational products, has announced a global consolidation of its fiberglass boat manufacturing footprint. The consolidation aims to improve efficiency and reduce fixed costs, with a projected annual cost savings of $20 million.
As part of this consolidation, Brunswick Corporation will be closing its Reynosa, Mexico facility. Production from the Reynosa facility will be shifted to Vonore, Tennessee and Merritt Island, Florida. The consolidation will also lead to the closure of other, unspecified facilities.
The company has also announced a significant investment in its facilities in Tennessee and Florida. Brunswick Corporation will invest $10 million in its Vonore facility, which will include a new manufacturing line for fiberglass boats. This investment is expected to create around 100 new jobs. The Merritt Island, Florida facility will also receive a $10 million investment for upgrades, with a focus on improving efficiency and reducing waste.
Brunswick Corporation's CEO, Dave Foulkes, stated that the investments are part of the company's commitment to long-term growth and profitability. He emphasized that the consolidation is a strategic move to position the company for success in the future.
The consolidation process is expected to be completed by the end of 2023. The total investment in the two facilities is projected to reach $20 million.
However, the search results do not provide information on the leadership positions at Brunswick Corporation responsible for production management at the newly established locations in Vonore, Tennessee, and Merritt Island, Florida.
In conclusion, Brunswick Corporation's consolidation of its fiberglass boat manufacturing footprint is a significant move aimed at improving efficiency and reducing costs. The investments in the Vonore and Merritt Island facilities are expected to create jobs and position the company for long-term growth and profitability.
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