Brunswick and Transamerica Form Financial Services Joint Venture

Thursday, November 21, 2002
Brunswick Corporation and Transamerica Distribution Finance announced the formation of Brunswick Acceptance Company, LLC (BAC), a joint venture between Brunswick and Transamerica. BAC will offer wholesale financing to the domestic Brunswick Boat Group and Mercury Marine dealer networks. “Over the past 10 years, many financial institutions have gotten into, and out of, marine lending. Our goal is to provide stability and to assure a source of floor plan financing for our dealers over the long term," said Brunswick Chairman and Chief Executive Officer George W. Buckley. "With this joint venture, we bring together the resources of the world's largest marine company with Transamerica, a leading provider of distribution finance services for almost 50 years." "We're extremely pleased to partner with Brunswick in the formation of this new venture and to provide the products and services that we will jointly bring to market," said Steven J. Toeniskoetter, President, Transamerica Distribution Finance. "We will be able to leverage the strengths of both organizations to deliver more value to our customers." "We are thrilled to be able to join forces with Brunswick to roll out a new and competitive alternative for their dealers' financing needs," said Richard Strickler, Senior Vice President, Recreational Products for Transamerica Distribution Finance. "Transamerica Distribution Finance has built its leadership position by remaining customer-focused and consistently exploring new opportunities, and this partnership represents one more way we can use our experience and expertise to benefit our customers." BAC is scheduled to begin operations on Jan. 2, 2003, with offices in Hoffman Estates, Ill., Knoxville, Tenn., and Fond du Lac, Wis.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Petrobras P-66 Platform Module to Boost Production

The P-66 platform’s first modules, built at the Tomé Ferrostaal Consortium’s Module Plant located at the Port of Maceió, Alagoas, are now ready and loaded on the São Tomé barge.

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

 
 
Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1290 sec (8 req/sec)