- Associated Press - Friday, June 29, 2018

MILWAUKEE (AP) - A manufacturing company says it’s agreed to pay $910 million for a Wisconsin marine products company that has more than 600 employees.

Brunswick Corporation, the parent of Fond du Lac-based Mercury Marine, is acquiring 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 other countries. The electrical boat equipment company has 630 employees worldwide. It’s headquartered in Menomonee Falls, Wisconsin, where it has about 150 employees.

Mercury Marine President John Pfeifer said Power Products will be integrated into Mercury Marine’s parts and accessories business, but operations will remain 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 said.

Mercury has added several thousand jobs in Fond du Lac since 2009, and it continues to hire people from a variety of fields, including engineering and skilled trades.

“We are growing at a really healthy clip,” Pfeifer said.

Mercury employs about 3,200 people in Fond du Lac and more than 6,000 worldwide. The company had more than $2.6 billion in sales in 2017. Mercury expects to top $3 billion this year with the addition of Power Products.

The U.S. recreational marine industry supports 650,000 jobs and last year had $37 billion in sales, according to the newspaper.


Information from: Milwaukee Journal Sentinel, http://www.jsonline.com

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