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North American MarineBusinessWorld news round-up - October 2022

by Peter Rendle 11 Oct 08:00 PDT
Suntex Marinas expands into vital California market © Suntex Marinas

BRP Inc. (TSX:DOO; NASDAQ:DOOO) announces that it has completed the previously announced acquisition of substantially all the assets related to the powersports business of Kongsberg Inc. in Shawinigan, Quebec, a subsidiary of Kongsberg Automotive ASA.

OneWater Marine Inc. (NASDAQ: ONEW) announced today that it has completed the previously announced acquisition of Taylor Marine Centers. The transaction expands the Company's presence in the Mid-Atlantic U.S. and enhances new and pre-owned boat sales, finance, and parts and services offerings.

Suntex Marina Investors, LLC, the premier owner and operator of best-in-class marina properties, have announced the acquisition of Seaside Boatyard & Marina, formerly known as The Boat Yard - Channel Islands. The property is located in Oxnard, California and is the company's first acquisition in coastal California.

NauticStar has been acquired by ICONIC Marine Group and its owner Fred Ross. They look forward to building for the bold with the support of the ICONIC family, alongside their existing brands Donzi, Fountain, and Baja. They will continue to focus on the needs of the NauticStar customer by offering the best-built boats and the best value on the water.

Marine Products Corporation (NYSE: MPX) announced recently that it will release its financial results for the third quarter on October 26 before the market opens. In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on October 26 at 8am Eastern Time.

Johnson Outdoors Inc. (Nasdaq: JOUT), a leading global innovator of outdoor recreation equipment and technology, recently announced approval by its Board of Directors of an increased quarterly cash dividend. Class A shareholders will now receive a $0.31 dividend per share and Class B shareholders a $0.2818 dividend per share.

Hurricane Ian made landfall on Wednesday, Sept. 28 in southwestern Florida from Tampa to Naples, Bonita Springs, Sanibel Island, and Fort Myers, making its way inland to Orlando before heading up Florida to North Carolina. When Ian arrived in southwest Florida, it was a category 4 hurricane, decimating homes, businesses, roads and marine infrastructure.

Following Hurricane Ian's devastation to many communities across southwest Florida and other regions, many remains without power or clean drinking water. The NMMA's priority remains ensuring the safety and well-being of those impacting, including the associations many member companies who have been impacted by Ian's landfall.

Recently, the leading organizations representing recreational fishing and boating in the United States urged the National Marine Fisheries Service to pause its proposed North Atlantic Right Whale Vessel Strike Reduction Rule, citing numerous significant flaws with the proposal. The proposed rule would broaden the current 10-knot (11.5 mph) speed restriction to include vessels 35 feet and larger (down from 65 feet); expand the go-slow zones from discrete calving areas to essentially the whole Atlantic Coast out as far as 90 miles, and extend these zone restrictions as long as seven months a year.

To convince the National Oceanic Atmospheric Administration not to proceed with the proposed 10-knot speed restrictions along the Eastern Seaboard, the Viking Yacht Company and key boating and fishing industry leaders will hold a press conference at the Fort Lauderdale International Boat Show on October 28 at 9am at the Viking display at the Bahia Mar Yachting Center's D-Dock.

Building on a successful collaboration, Volvo Penta and CMB.TECH wish to announce a partnership agreement designed to accelerate the development of dual-fuel hydrogen-powered solutions for both land and sea applications. The strengthened collaboration will include joint projects ranging from pilots to small scale industrialization, providing increased access to this important technology for reducing greenhouse gas emissions.

Lund Boats announced last week the redesign of its iconic Pro-V series. First launched in 1988, the Pro-V is celebrating its 35th anniversary with this refresh, which includes a consolidation of features previously found in the Pro-V Limited line and consists of the Pro-V 1875, 1975, 2075 and 2175. The Pro-V has been a best-selling model for more than three decades and is synonymous with Lund's reputation for superior engineering and timeless craft design.

Sea Ray's next generation of sport boats is continuing to steal the spotlight with the introduction of the brand-new SLX 260 Surf. Combining the next-level luxury of the SLX 260 with innovative wakesurfing technology, the new vessel is crafted to elevate the experiences of boaters who enjoy both casual cruising and the thrill of watersports.

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Peter Rendle -

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