Sea Ray Brevard Operations in Merritt Island To Be Shut Down, More than 380 Workers To Lose Jobs
By Space Coast Daily // June 26, 2018
BREVARD COUNTY • MERRITT ISLAND, FLORIDA – Brunswick Corporation announced Monday plans to close its Sea Ray Boats operations in Brevard County at the Sykes Creek facility located on the Barge Canal in Merritt Island.
More than 380 people will lose their job in Brevard County, and another 475 at the Palm Coast facility, which will also be closed as the company discontinues its Sea Ray sport yacht and yacht models.
Palm Coast is targeted for closure as soon as practical in 2018, while a portion of Sykes Creek will continue to operate for the foreseeable future to support customer service and warranty obligations, along with other operational requirements.
“We will maintain the capability to provide outstanding service and support to our dealers and installed base of all Sea Ray customers, consistent with the Sea Ray brand promise and history,” said Brunswick Chairman and Chief Executive Officer Mark Schwabero.
“We appreciate the dedication and commitment our employees and the communities that support our operations and will help them through this transition.”
The Illinois-based company put the Sea Ray division up for sale at the end of 2017. Instead of selling the division, the brand will be “reinvented.”
“Over the last several months, we have engaged in a thorough sale process for the Sea Ray business, which we believed would generate the highest value for our shareholders,” said Schwabero.
“Although there was interest in the business, the offers we received did not reflect an appropriate value for this premium brand, and did not meet our expectations. The lower value was largely due to the persistently weak financial performance of the yacht product category, which complicated and obscured the value of the remainder of Sea Ray.
Sea Ray remains one of the most aspirational and premium recreational boat brands, and our sport boats and cruisers set the industry standard, according to said David Foulkes, president – Marine Consumer Solutions.
“We will focus our resources on advancing our position in these segments, with an emphasis on the growing and evolving 24 – 40-foot categories,” said Foulkes.
“Moving forward, Sea Ray will continue to offer new products, features and services that leverage our technology and innovation initiatives aimed at enhancing the quality of the consumer boating experience.”
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