Updated 2:47 pm, Friday, June 29, 2018
MILWAUKEE (AP) — A producing company says it is agreed to pay $910 million for a Wisconsin marine products company that has greater than 600 workers.
Brunswick Corporation, the father or mother of Fond du Lac-based Mercury Marine, is buying Power Products’ Global Marine and Mobile, the Milwaukee Journal Sentinel reported.
Power Products has operations in the U.S., the Netherlands, New Zealand, China and different international locations. The electrical boat gear company has 630 workers worldwide. It’s headquartered in Menomonee Falls, Wisconsin, the place it has about 150 workers.
Mercury Marine President John Pfeifer mentioned Power Products can be built-in into Mercury Marine’s elements and equipment enterprise, however operations will stay in Menomonee Falls.
“This is a business we bought because it’s strategic and we like the product positions they’re in. This is a growth piece of our company,” Pfeifer mentioned.
Mercury has added a number of thousand jobs in Fond du Lac since 2009, and it continues to rent folks from quite a lot of fields, together with engineering and expert trades.
“We are growing at a really healthy clip,” Pfeifer mentioned.
Mercury employs about three,200 folks in Fond du Lac and greater than 6,000 worldwide. The company had greater than $2.6 billion in gross sales in 2017. Mercury expects to high $three billion this 12 months with the addition of Power Products.
The U.S. leisure marine business helps 650,000 jobs and final 12 months had $37 billion in gross sales, in accordance with the newspaper.
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com