what is up with omc

[walleye wolf]

Does any one no the latest on the sale of omc and what is going to happen. thankx

[Hans]

In a nutshell....

They've filed for bankruptcy, and an auction was held.

The successful bidders seem to be Genmar (Lund, Lowe, etc) for the boat business (less Princecraft?), and Bombardier (Snowmobiles, PWC's, Lear Jet, etc) got the Evinrude/Johnson motor business.

Hans

--
"I long for the dear old lakeshore, where I dreamed my youth away;
for a dreamer lives forever, and a toiler dies in a day.
From the sleepless thoughts endeavor, I would go where the children play;
For a dreamer lives forever, And a thinker dies in a day."

[AquaMan]

Today's business section included PrinceCraft in the equation. Might have been an oversight by the righter or bad info on my part because I heard that PrinceCraft was excluded from the deal with GenMar and Bombardier.

Either Way, it sounds like GenMar and Bombardier will be in bed together on many more deals down the road. But better is the news that jobs will be saved, maybe not all, but more then if they had dried up alltogether.

AquaMan~~~~~~~~~~~~~

--- "It all begins and ends at the water's edge"

[Mike M]

Add to the fact that a legal challenge by Brunswick was overturned by the court late Thursday, clearing the way for Bombardier and Genmar to continue the acquisition.

[jb]

Go to www.boatbiz.com. It's all there.

[salmon3]

Last year I
build prop and drive shafts for all of the omc motors they just went bankrupt. My old employer shut down all of our machines due to this bankrupsy. I wouldn't buy a omc motor!