INDIANAPOLIS – Outboard engine manufacturer Yamaha Motor Corp., USA has purchased the assets of Indianapolis-based Precision Propeller, Inc. and plans to retain the company’s workers while making capital investments in the facility and its processes for the production of marine propellers, it reported in a recent statement.
The new company will now be known as Precision Propeller Industries, Inc., according to Yamaha.
“Until today, we have been a customer of Precision Propeller,” said Phil Dyskow, Yamaha Marine Group president, in the statement. “We liked the company so much, we decided to make it a part of Yamaha Marine Group.”
Yamaha Marine Group, based in Kennesaw, Ga., markets marine outboard motors ranging in size from 2.5 to 350 horsepower. The variety of propellers to be supplied by Indianapolis-based PPI will allow Yamaha to better meet the needs of its customers, which include more than 120 independent boat builders in the United States, the company said.
“The marine outboard industry is complex,” said Dyskow. “We need to have the right outboard motors for our customers and all the right hardware to go along with them. PPI employees will help us supply them. We value their knowledge and skill.”
Yamaha said its Marine Group holds approximately a third of the market share for marine outboards in the United States. Its assets include three boat companies: Century, a maker of salt water fishing boats; Skeeter, a maker of fresh water fishing boats; and G3, a maker of aluminum fishing boats. Yamaha Marine Group is a division of Yamaha Motor Corp. USA, based in Cypress, Calif.
Precision Propeller, Inc. opened in 1969 as a propeller repair company. In 1980, the company began producing custom-made propellers under owner and founder Jim Booe.
“I am convinced Yamaha will take this business to the next level,” said Booe, founder of PPI. “I could think of no better way to assure PPI’s continued growth in the marine industry.”
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