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DUBAI, UAE – Brunswick Corp. will leverage its fleet of boat brands to boost its penetration rate in the growing Middle East market, it reported in a recent statement.
The impetus for its expansion initiatives in the region has been a series of positive indicators, such as a sharp increase in infrastructure development for the marine industry, and large-scale construction of marinas and marine-themed residential and commercial parks, according to the company.
As evidence of the company’s commitment to the Middle East, Brunswick Chairman and Chief Executive Officer Dusty McCoy recently hosted His Highness Shaikh Salman bin Hamad bin Isa Al-Khalifa, Crown Prince of Bahrain, and members of the Chicago community for a special luncheon at The Chicago Club. The event served as an opportunity for Brunswick and the Chicago business community to learn about future economic opportunities and partnerships between the U.S. and Bahrain, the company reported.
“Brunswick is making a big-time commitment to the Middle East market as we have been impressed with the marine infrastructure development in the region and the innovative ideas such as the creation of new beachfront through high-profile reclamation projects,” said Haidar Wardeh, managing director, Brunswick Middle East. “We value the region as a very important trading partner because of its very attractive marine business environment and its flourishing economy, which has resulted in more people owning yachts, fishing boats and other sea cruisers.”
He also noted that Brunswick’s non-US revenues have increased at twice the rate of its U.S. sales over the past five years, something it intends to sustain through involvement in emerging markets like the Middle East.
“The Middle East has seen a string of marquee projects being constructed such as UAE’s The Palm Jumeirah island and Dubai Marina, and the Pearl City in Qatar. The region indeed provides an excellent platform for these iconic projects with the states enjoying lush coastlines and an abundance of cutting-edge technology and manpower. These sea-based property developments have resulted in a heightening demand for various sea crafts and technologies, which will be effectively addressed by Brunswick’s extensive portfolio of boats and related services,” Wardeh added.
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