KENNESAW, Ga. – The Yamaha Marine Group will terminate O.E.M. agreements to sell outboard motors to Lund, Lowe and Crestliner boat companies effective June 30, Yamaha said in a statement late yesterday.
The decision to terminate and not renew each of these agreements is the result of the transfer of ownership of Crestliner, Lund and Lowe from Genmar Holdings, Inc. to Brunswick Corp., Yamaha reported.
"To effectively support our valued dealers who may have existing orders for Yamaha-powered Crestliner, Lund, or Lowe products in place, we have offered to extend the current agreement with each of these three boat companies until June 30, so that the date for non-renewal will coincide with the end of the 2004 model year season," said Phil Dyskow, president of Yamaha Marine Group in the U.S.A.
Under Genmar, dealers for the three aluminum boat companies could offer their customers a choice of outboard engines, including Johnson and Evinrude, Yamaha, Suzuki, Mercury and Honda.
Brunswick stated earlier this month that while it expects in the long term for the acquisitions to lead to market share growth for its Mercury Marine outboard business, the three boat companies will continue to offer competitive engine product through existing dealers.
However, beginning in July, that competitive engine product will not include Yamaha.
"Consumer demand for Yamaha's four-stroke and HPDI two-stroke outboards is at an all-time high in the market place,” said Dyskow. “We are confident that consumers who demand industry-leading quality and customer satisfaction in both their outboard motor and aluminum boat will quickly discover the value and benefit advantages of the premium aluminum boat brands available that feature Yamaha outboards.”