Business news : BRP to exit sport boat market

Valcourt, Québec, September 14, 2012 – BRP today announced it will exit the sport boat business over the coming months, citing the continued global sales decline in the marine industry, particularly the drop in sales of sport boats since the financial crisis.
“This is a difficult but necessary decision for BRP,” said José Boisjoli, president and CEO. “We worked hard to grow our sport boat business through a serious sales decline that began in 2007. But now, we must focus our research and development resources and capital investments in areas of our business that offer greater growth potential.”
BRP entered the boat manufacturing business in 1994 and purchased the assets of Celebrity Boats in 1995, at which time it moved its facility to Benton, Illinois.
“We looked for a buyer for our sport boat business, but that effort proved unsuccessful,” Boisjoli added. “Consequently, we decided not to resume production of the upcoming model year due to seasonal production planning requirements.”
All impacted employees will receive a good transition package.
BRP will continue to provide parts and honour warranties for its customers.