Brunswick to stay with core competencies
By IBI Magazine
Brunswick Corp chairman Dustan McCoy told Brunswick shareholders at its annual meeting yesterday that the company would stick with its core competencies, rather than branching out into new fields. Brunswick has businesses in boating, but also bowling, billiards and fitness equipment. Chicago Business News reported that Brunswick had considered diversifying into motorcycles or all-terrain vehicles, but decided against it. "We're very comfortable today in our three business lines," said McCoy. "We ought not to be making those kinds of moves in difficult conditions." But McCoy said that the company wants to expand into businesses that might complement its boating activities. They include retail lending as well as developing and managing recreational marinas. "We're moving into adjacent areas that touch businesses that we perform well in," he said. McCoy told the shareholders that the downturn in boating sales that began in late 2005 will most likely continue at least through this year. He also did not rule out more cutbacks in production and overhead costs. "We have some hard choices ahead of us," he said. "2008 has started out with even greater headwinds than we started out 2007 with."
(8 May 2008)
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