LAKE FOREST, Ill. – Marine industry giant Brunswick Corp. (NYSE: BC) will transfer production of Trophy offshore fishing boats made at its plant in Cumberland, Md., to another Brunswick facility in Ashland City, Tenn., ceasing production at the Cumberland manufacturing facility by the end of 2008 and eliminating approximately 115 production and support positions, the company reported in a statement yesterday.
“As we deal with the global economic downturn and its impact on recreational marine markets, we are continuing to shrink our North American manufacturing footprint,” Dustan E. McCoy, Brunswick chairman and chief executive officer, said. “This decision is no reflection upon the Cumberland work force or product, but the result of our need to develop a more efficient manufacturing footprint.
“As previously announced, Brunswick has been following through on a number of measures to reduce expenses and resize the company to compete in the global marine market,” McCoy added. “Over the past two years, we have closed 12 other North American boat plants, in addition to Cumberland, and have continually reduced production rates throughout our marine businesses. Cumberland will also observe three weeks of furlough, during which time all boat production temporarily is halted, while the phase down is completed.”
Brunswick stated it will offer outplacement assistance for affected employees, including severance and other support aimed at helping them transition to another job.
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