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.

People & Company News

Japanese Yards Mull Shipbuilding Alliance

Four major Japanese shipbuilders are in discussions to form an alliance in hopes of riding out the industry slump.   Mitsubishi Heavy Industries, Ltd. (MHI) announced

MN100: Scienco/FAST

The Company: Scienco/FAST is an original equipment manufacturer specializing in marine sewage devices, environmentally-friendly cleaners and other industrial water management technologies.

MN100: MOPS Marine License Insurance

The Company: Since 1935, MOPS Marine License Insurance has defended the USCG licenses of mariners operating in every maritime sector in the United States. Its network of over 80 maritime law firms,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0972 sec (10 req/sec)