Raymarine Reports Strong Market Position in 2002

Wednesday, October 24, 2001
A $2 million marketing campaign, a $2 million investment in manufacturing and technological capabilities and a new suite of innovative products are at the heart of Raymarine's push into the 2002 season. The company, which completed its $108 million buyout from Raytheon at the beginning of this year, believes it will maintain its lead in the marine electronics market.

Raymarine's marketing campaign has already seen the introduction of its new branding. This month it dominates the marine media with high profile insertions and advertising in the leading publications around the world, timed to coincide with the major international boat shows over the next six months.

The company is also soon to launch the first of its new campaigns for 2002. Using the theme of "marine intelligence", Raymarine will seek to focus attention on the scale and quality of the information boaters will access. Since completing the buyout from its former US parent, the company has used its newfound freedom and financial strength to invest in developing its business. It has completed a $2 million investment in new manufacturing capacity and technology developments.

Sales continue to remain ahead of target (2000: $140M) and the 575 strong firm anticipates continued growth into the 2002 season, despite the difficult market conditions. Raymarine's product line-up for the 2002 season is driven by the information needs of the boater. Key amongst its developments are hsb2, a new technology which offers multi-station repeatability and leading levels of systems integration for up to 10 displays covering everything from radar to fishfinders and navaids; AST(TM) technology which provides automatic calibration and greater steering accuracy in pilot systems; and the new DSC VHF radiotelephone solutions.

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