International Marine News HEADLINES
http://www.ibi-plus.com International Boat Industry | DECEMBER 2015 9
CANADA BRP PLANS TO
invest C$118m in its Valcourt
facilities in Quebec over the next
five years. At the same time, the
parent of Sea-Doo and Evinrude
says it plans to implement a three-
to five-year pay freeze for 60% of
its Valcourt workforce. The freeze
begins on February 1, 2016.
In announcing the C$118m
investment, BRP said that
Valcourt is seen as the “heart” of
BRP’s innovation. A statement
said that a synergy exists between
its Design & Innovation Centre,
Product Development Centre and
manufacturing operations.
“Ultimately, the goal of the
planned investments is to
maintain the competitiveness
of the Valcourt plant througha complete transformation
and modernisation in order
to optimise its manufacturing
infrastructure and logistics,” said
a statement.
BRP CEO José
Boisjoli said
BRP intends to
provide “cutting-
edge tools and
technologies”
to increase
efficiency
and talent in
innovation,
engineering and manufacturing,
“all while keeping quality jobs
in Quebec.” The company also
intends to review all work
methods at BRP’s Valcourt
production site as well as workingconditions of its employees in
technical and administrative
sectors. In announcing the pay
freeze for around 60% of BRP
staff in Valcourt, the company
said that BRP employee groups
in Quebec have higher salary
levels than other competitors in
North America.
“In recent years, globalisation
and the growing pressure of the
competition in our markets have
led us to relocate a number of
our operations to Mexico,” said
Boisjoli. “These same factors are
urging us today to make an in-
depth review of
our methods.
In order for
us to have
the necessary
agility to
remain
competitive...
and to
ensure that
our investments generate the
anticipated benefits, they must
be accompanied by an overhaul
of our working conditions in areas
where market deviations are
too great.”Our goal is
to maintain
the competitiveness
of the Valcourt plant
through a complete
transformationGunboat files for Chapter 11
USA GUNBOAT
INTERNATIONAL, A
US builder of sailing
catamarans, has filed for
bankruptcy protection in a
“perfect storm” of difficult
business circumstances.
Company owner Peter
Johnstone posted a letter on
the Gunboat International
Facebook page saying
that a legal dispute with aboatbuilding company was
central to his own company’s
financial problems.
The owner listed a number
of other issues faced by the
company, which specialises
in building carbon fibre
catamarans. These included
boat accidents and the costs
of investing in increased
production. Ultimately,
however, he said the problemswere his own responsibility
as sole owner.
“Business has ups and
downs,” Johnstone said.
“I have enjoyed 30 years
of both results... I have
learned far more from the
failures than the accolades.
We have a lot of good
people, and we will see our
way out of this period in the
next two years.”FLIR EXPANDS
USA FLIR Systems, parent
company of Raymarine,
has acquired DVTEL Inc for
US$92m. New Jersey-based
DVTEL is a leader in software
and hardware technologies
for video surveillance.- IBI-plus.com December 1
NORTH AMERICAN OUTBOARD STATS
USA US outboard engine shipments were up 4.9% year-over-
year for the 12 months through October, according to the
NMMA’s control group of manufacturers. Four-stroke sales and
higher-horsepower models are prompting the growth. The
NMMA also says that wholesale shipments in Canada were
up 15.6% year-over-year for the 12 months through October.
Corresponding dollars were up 21.9%.- IBI-plus.com November 25
USA CHICAGO-BASED
GRAND Crossing Capital
Partners has acquired a
majority stake in Everglades
Marine Holdings and RJ
Dougherty Associates LLC.
Everglades makes high-
quality offshore fishing
boats. It was founded in 1997
by Bob Dougherty, a former
Boston Whaler executive, in
Edgewater, Florida.
“With fresh capital,
Everglades will accelerate
product development and
geographic expansion,
while continuing to bring
cutting-edge innovation to
the market,” says Dougherty,
who will retire as CEO but
remain as an investor in the
company. The rest of the
Everglades management will
remain in place, including
executive chairman and
interim CEO Tom Flocco.
Flocco, a former CEO
in another industry, has
spent his career focused
on consumer products and
supply chain initiatives,
including work within the
marine industry.
“This investment follows
Everglades’ best sales year
to date and is a testament
to the company’s legendary
product portfolio and
strong team,” says Flocco in
the statement.
Grand Crossing focuses on
branded consumer and retail
businesses. “With its unique
family office backing, the
firm takes a patient approach
to investing and focuses on
long-term potential,” says
the statement.
Everglades is the third
investment in Grand
Crossing’s current fund.PE firm
buys
Everglades
BRP announces
C$118m investment
in Valcourt facilities