2013-03-18 16:09:57 -
LAKE FOREST, Ill., March 18, 2013 -- Brunswick Corporation (NYSE: BC) and GE
Capital, Commercial Distribution Finance (CDF), a division of GE (NYSE: GE),
announced today an extension of their joint venture, Brunswick Acceptance
Company (BAC), through 2016. The joint venture was formed in 2002, and began
operations in 2003 with the goal of providing a stable, long-term source of
wholesale floor plan financing for Brunswick boat dealers.
BAC is the largest floor plan finance provider for Brunswick boat brands and
Mercury Marine engines in the U.S., as well as one of the largest providers of
wholesale financing programs and service to the marine industry.
"This extension is a reflection of the commitment that the partners have to the
U.S. marine industry, as well as our confidence in BAC's demonstrated
ability to
provide market-leading products and services to the dealer body," said Brunswick
Chairman and Chief Executive Officer Dustan E. McCoy. "We are committed to
offering our dealers all the tools they need, including a stable and affordable
source of financing along with our high quality boats and engines to ensure they
can provide America's boaters with a fully satisfying ownership experience."
"We are excited about our extension with Brunswick, and we will continue to
provide their dealers with flexible financing and top-notch customer service,"
said Bruce Van Wagoner, president of CDF's marine group. "BAC dealers will also
continue to have access to CDF's industry-leading online tools and the resources
of GE to help them manage and grow their business."
In a related development in Canada, CDF renewed its agreement to be the
strategic inventory finance provider for Brunswick boat dealers through 2016.
About Brunswick
Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to instill
"Genuine Ingenuity"(TM) in all its leading consumer brands, including Mercury
and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard
engines; MotorGuide trolling motors; Attwood marine parts and accessories; Land
'N' Sea, Kellogg Marine, and Diversified Marine parts and accessories
distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government
Products, Crestliner, Cypress Cay, Harris FloteBote, Lowe, Lund, Meridian,
Princecraft, Quicksilver, Rayglass, Sea Ray, Trophy, Uttern and Valiant boats;
Life Fitness and Hammer Strength fitness equipment; Brunswick bowling centers,
equipment and consumer products; Brunswick billiards tables and foosball tables.
For more information, visit
www.brunswick.com.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $31 billion in
financing for more than 40,000 manufacturers, dealers and distributors across
North America in 2012. Programs include inventory and accounts receivable
financing, asset-based lending, private label financing, collateral management
and related financial products. Customers have access to exclusive online tools
and analytics to manage their accounts and inventory. For more information,
visit
www.gecdf.com/ or follow company news via Twitter
(
twitter.com/GEInventoryFin).
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website at www.ge.com.
# # #
+----------+---------------------------------------------------+
| Contact: | Bruce Byots |
| | Vice President - Corporate and Investor Relations |
+----------+---------------------------------------------------+
| Phone: | 847-735-4612 |
+----------+---------------------------------------------------+
| Email: |
bruce.byots@brunswick.com |
+----------+---------------------------------------------------+
+----------+---------------------------------------------------------+
| Contact: | Daniel Kubera |
| | Director - Media Relations and Corporate Communications |
+----------+---------------------------------------------------------+
| Phone: | 847-735-4617 |
+----------+---------------------------------------------------------+
| Email: |
daniel.kubera@brunswick.com |
+----------+---------------------------------------------------------+
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Source: Brunswick Corporation via Thomson Reuters ONE
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