MERCURY MARINE ACQUIRES INTEREST
IN NEW ZEALAND BOAT MANUFACTURER RAYGLASS
FOND DU LAC, Wis. (July 18, 200) ? Mercury Marine, the world's
leading manufacturer and marketer of marine propulsion systems, announced
today that it has acquired a minority interest in Rayglass Sales and
Marketing Limited of Auckland, New Zealand, from Tony and Vicki Hembrow.
Rayglass is a leading manufacturer of fiberglass fishing, cruising and
large rigid inflatable boats. Terms of the transaction were not disclosed.
Rayglass brands include the Legend and Protector lines of
boats, which are sold primarily in New Zealand and Australia as well as
exported to more than 17 countries. Exports currently account for more than
60 percent of Rayglass sales. As testament to its reputation for quality
and performance, Rayglass was the preferred supplier of boats used for
chase, umpire and crowd control activities during the last two America's
Cup races in Auckland.
Commenting on the acquisition, Theo Wiggill, president of Mercury
Marine's International Division, said, "We are delighted to have the
opportunity to more fully partner with Rayglass. Highly successful and
well regarded, Rayglass strengthens Mercury's position in the global
marketplace and will serve as a valuable resource as we grow together."
"We were very deliberate in choosing a partner," explained Tony
Hembrow, who will continue as Rayglass managing director and chairman of
the board. "We believe Mercury is best suited to help us continue our
growth at Rayglass. In this respect with Mercury's support we intend to
move to new larger 65,000 sq ft manufacturing facilities in Auckland in
2004. This expansion of our manufacturing capacity will facilitate our
growth with Mercury in international markets. We have always found Mercury
to be extremely knowledgeable and easy people to do business with.
Mercury's product range is exceptional, and they will offer Rayglass
additional resources to further develop and improve our boat models,
production processes and international distribution."
"Quality products that are targeted to international markets, as well
as a dedication to continuous product improvement and production
development, will continue to be the basis for future success at Rayglass,"
Tony Hembrow added.
Mercury Marine is a division of Brunswick Corporation,
headquartered in Lake Forest, Illinois. Brunswick Corporation is a
manufacturer and marketer of leading consumer brands in the marine engine
and boating markets as well as the fitness equipment, bowling and billiards
markets. For more information on Mercury Marine please visit