Waterwings
Well-known member
Article from bassfan.com, 9/25/2008
Genmar back into Aluminum
Genmar chairman and CEO Irwin Jacobs circulated a letter to all Genmar dealers that announced the company will aggressively re-enter the aluminum market. That's significant news for a couple of reasons.
Remember that Genmar sold its aluminum boat brands – Lund, Lund Canada, Crestliner and Lowe – to Brunswick Corp. in March 2004. With the sale, the company effectively divested itself from the aluminum market. At the time, Jacobs noted: "Genmar's board of directors unanimously agreed it would be in the best interests of the company and its shareholders to put all of our efforts and resources towards the future development and expansion of Genmar's 13 remaining fiberglass boat companies."
Lund, Lowe and Crestliner are monster brands in the aluminum market, and it appears that Genmar means to go head-to-head with those same brands it sold off 4 years ago.
In the letter, Jacobs announced plans to start a new aluminum boat company. Production would take place at a new, not-yet-built factory. The brand name, and factory location, will not be announced until next year.
Some other highlights from the letter Jacobs penned:
"It is hard for me to believe that currently there are several aluminum fishing boats in the retail market at the same price, if not higher, than equally equipped fiberglass fishing boats of identical size; which I believe offer many more benefits than today's selection of aluminum boats ever could. I believe fiberglass fishing boats (i.e. Ranger, Stratos, Champion Boats, plus others) offer a better ride and a greater value than aluminum boats. In other words, I believe aluminum boats presently being offered both in today's market are, in many instances, overpriced compared to many of the fiberglass fishing boats."
"As we develop our new aluminum boat line, it is Genmar's intention to substantially decrease the wholesale and retail prices in all of the aluminum boat segments of the market. This includes reducing wholesale and retail prices from entry level aluminum boats to the higher end and everything in between. I believe the only way that Genmar can once again become the industry leader in aluminum boats is for us to basically change the entire way aluminum boats are presently priced, manufactured and marketed to dealers and to the retail boat buying consumers."
"The new Genmar aluminum boat factory will be the most modern, high-tech aluminum boat factory in the world."
"We won't be announcing the new name for the aluminum boat company until late 2009 or early 2010. It will be a completely new name and company. We hope to announce the location for the new aluminum boat factory sometime in the middle or third quarter in 2009."
"I want to assure you that when you see and hear about what Genmar's specific plans are for our new aluminum boat company, there won't be any doubt in anyone's mind (including our competitors) who is going to once again be the leader in the aluminum boat segment of the market. It will be Genmar's new aluminum boat company."
Genmar back into Aluminum
Genmar chairman and CEO Irwin Jacobs circulated a letter to all Genmar dealers that announced the company will aggressively re-enter the aluminum market. That's significant news for a couple of reasons.
Remember that Genmar sold its aluminum boat brands – Lund, Lund Canada, Crestliner and Lowe – to Brunswick Corp. in March 2004. With the sale, the company effectively divested itself from the aluminum market. At the time, Jacobs noted: "Genmar's board of directors unanimously agreed it would be in the best interests of the company and its shareholders to put all of our efforts and resources towards the future development and expansion of Genmar's 13 remaining fiberglass boat companies."
Lund, Lowe and Crestliner are monster brands in the aluminum market, and it appears that Genmar means to go head-to-head with those same brands it sold off 4 years ago.
In the letter, Jacobs announced plans to start a new aluminum boat company. Production would take place at a new, not-yet-built factory. The brand name, and factory location, will not be announced until next year.
Some other highlights from the letter Jacobs penned:
"It is hard for me to believe that currently there are several aluminum fishing boats in the retail market at the same price, if not higher, than equally equipped fiberglass fishing boats of identical size; which I believe offer many more benefits than today's selection of aluminum boats ever could. I believe fiberglass fishing boats (i.e. Ranger, Stratos, Champion Boats, plus others) offer a better ride and a greater value than aluminum boats. In other words, I believe aluminum boats presently being offered both in today's market are, in many instances, overpriced compared to many of the fiberglass fishing boats."
"As we develop our new aluminum boat line, it is Genmar's intention to substantially decrease the wholesale and retail prices in all of the aluminum boat segments of the market. This includes reducing wholesale and retail prices from entry level aluminum boats to the higher end and everything in between. I believe the only way that Genmar can once again become the industry leader in aluminum boats is for us to basically change the entire way aluminum boats are presently priced, manufactured and marketed to dealers and to the retail boat buying consumers."
"The new Genmar aluminum boat factory will be the most modern, high-tech aluminum boat factory in the world."
"We won't be announcing the new name for the aluminum boat company until late 2009 or early 2010. It will be a completely new name and company. We hope to announce the location for the new aluminum boat factory sometime in the middle or third quarter in 2009."
"I want to assure you that when you see and hear about what Genmar's specific plans are for our new aluminum boat company, there won't be any doubt in anyone's mind (including our competitors) who is going to once again be the leader in the aluminum boat segment of the market. It will be Genmar's new aluminum boat company."