Valcourt, Québec, October 20, 2004 - BRP US Inc., a wholly owned subsidiary of Bombardier Recreational Products Inc. (BRP) has signed a letter of intent with TEAM Industries of Bagley, Minnesota, for the sale of its machining facility in Andrews, North Carolina. The deal should be finalised before the end of the present calendar year.
This facility, which machines components for Evinrude® and Johnson® outboard engines, was initially acquired by BRP in 2001 as part of the assets of Outboard Marine Corporation (OMC).
"We chose to pursue the negotiations with TEAM Industries because of their track record in terms of quality, "said José Boisjoli, BRP's president and CEO. "Once finalised, this deal will allow us to focus even more on the development, the manufacturing and the marketing of recreational products," concluded Boisjoli.
Earlier this year, Boisjoli had made public his intention to sell the Andrews facility as part of a three-year cost reduction plan.
Bombardier Recreational Products Inc. is a world leader in design, development, manufacturing, distributing and marketing of Sea Doo® watercraft and sport boats, Ski Doo® and LynxTM snowmobiles, Johnson® and Evinrude® outboard engines, direct injection technologies such as Evinrude E-TECTM, Bombardier* all-terrain vehicles (ATV), Rotax® engines and karts.
®, TM Trademark of Bombardier Recreational Products Inc. or its subsidiaries.
* Trademark of Bombardier Inc. used under license.
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For information:
Pierre Pichette, Vice president,
Communications and Public affairs
450-532-6466
pierre.pichette@brp.com
www.brp.com