A winning formula for attracting buyers

Article Abstract:

The marine industry including the boatbuilding and repair business could benefit from the lessons learned by the recreational vehicle (RV) industry in terms of marketing and, in particular, advertising. RV industry leaders correctly forecasted that RV owners would be getting older, so they launched a six-year, $60 million advertising and public relations campaign that emphasized a lifestyle rather than a vehicle. They have apparently succeeded in attracting baby boomer buyers although only half of the campaign is complete. However, their efforts to unite industry players proved to be a challenge with which the boating sector can easily identify.

Advertising, Motor Home Manufacturing, Motor Homes

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Magellan is buying Lowrance for $26M

Article Abstract:

Magellan Corp is acquiring Lowrance Electronics from Orbital Sciences for $26 million. Terms of the agreement call for Lowrance shareholders to collectively receive between 1.25 million and 754,000 shares of Orbital stock, the final market value of which will be determined on Orbital's price at the conclusion of the deal. The deal, pending regulatory and shareholder approval, is expected to close roughly between Jun 1999 and Aug 1999.

Asset sales & divestitures, Acquisitions & mergers, Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing, California, Global Positioning Systems, Oklahoma, Sonar Systems, Global Positioning System, Lowrance Electronics, Orbital Sciences

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Fresh financing puts Olympic on a track to expand its reach

Article Abstract:

Bellevue, WA-based boat seller Olympic Boat Centers has received fresh financing from Fleet Capital Corp, a division of Fleet Financial Group. The deal has provided a multi-million-dollar credit arrangement for the world's largest Bayliner and Maxum boat dealer that will refinance its existing debts and provide capital for growth. The financing was placed in conjunction with Riverside Co's purchase of Olympic in summer 1998.

Receipt of funds, Boat & Marine, Retail, Boat Dealers, Olympic Boat Centers

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