Brunswick Corp. (BC) signed a letter of intent to sell certain assets of
its Baja Marine business to Fountain Powerboat Industries Inc. (FPB).
Financial terms weren't disclosed.
The Lake Forest, Ill., recreation products maker will end production of
Baja boats in Bucyrus, Ohio, by the end of May, consistent with the end
of the 2008 model year.
The company said closing of the Baja plant will result in the
elimination of about 285 jobs.
As a result, Brunswick estimates pretax asset write-downs, along with
severance and other costs, to total between $10 million to $15 million.