MIRA
INFORM REPORT
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Report Date : |
29.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRUNSWICK FAMILY BOAT CO. INC. |
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Registered Office : |
800 S. Gay Street Suite 2021, Knoxville, TN |
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Country : |
United States |
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Date of Incorporation : |
10.11.1972 |
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Com. Reg. No.: |
379299 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Builder of Boats. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company
Name: BRUNSWICK
FAMILY BOAT CO. INC.
Trade
Name: Brunswick
Boat Group
Address: 800 S. GAY
STREET SUITE 2021
City: KNOXVILLE
Founded (D/M/Y):
State/Province: TN
Zip
Code: 379299
Sales / Revenue: -
Country: UNITED
STATES
Net Income:
Telephone: 865-582-2200
Total Equity:
Facsimile: 865-582-2301
Number
of Employees:
URL www.brunswick.com
Legal
Form: Corporation
- Private
Shareholder:
Business
Activity: The
Company is a builder of boats.
NOTE TO CLIENT
Contact: Ms. Bev, Corporate Legal
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Note: A corporate registration could not be found in any state
under the name Brunswick Boat Group.
Ms. Bev stated that the name ordered Brunswick Boat Group is a trade name used
by over 30 companies in the Brunswick
boat organization. She also stated that Brunswick Family Boat Co. Inc. has a manufacturing plant at
the address in Salibury,
MD.
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Note: The address provided U.S. Marine Salisbury, San Fransisco, CA was
not found. Brunswick has a plant which is part of the U.S. Marines located Salisbury, MD. The Salisbury
location was contacted and a gentleman confirmed that this location was shut
down and a small crew was finishing up production. He also verified that the
Company headquarters was in Knoxville, TN. He stated that he could not disclose
if any other plants were closing or the reason behind it.
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Other than the information regarding the closing of the plant, the information in the report was obtained from
outside sources and has not been
confirmed with management.
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Note: "LAKE FOREST, Ill., Jan. 22 /PRNewswire-FirstCall/ --
Brunswick
Corporation BC today announced that Patrick C. Mackey, 61, will retire
from the company March 1st after more than seven years of service.
Mackey is president of the Mercury Marine Group, chief operating
officer of Brunswick's Marine businesses".
Copyright 2008 PR Newswire
LEGAL
Legal Form: Corporation
- Private
Incorporation
State DE
Status: ACTIVE
Since (D/M/Y): 10/11/1972
The company is NOT
required to publish an annual financial report.
Delaware Secretary of State:
File Number: 0786757
Incorporation Date / Formation Date: 11/10/1972(mm/dd/yyyy)
Entity Name: BRUNSWICK FAMILY BOAT CO. INC.
Entity Kind: CORPORATION Entity Type: GENERAL
Residency: DOMESTIC State: DE
REGISTERED AGENT INFORMATION
Name: THE CORPORATION TRUST COMPANY
Address: CORPORATION TRUST CENTER 1209 ORANGE STREET
City: WILMINGTON County: NEW CASTLE
State: DE Postal Code: 19801
Phone: (302)658-7581
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Tennessee Secretary of State:
Name I.D. Number
BRUNSWICK FAMILY BOAT CO. INC. 0197106
Business Type*: CORPORATION
Profit/Nonprofit: FOR PROFIT
Status*: ACTIVE
Date of Formation/Qualification: 11/20/1987
Domestic/Foreign: FOREIGN
Place of Incorporation/Organization: DE
Duration: PERPETUAL
FYC(Fiscal Year Closing) Month: DECEMBER
Principal Office:
Address Line 1: %BRUNSWICK CORP.
Address Line 2: 1 N. FIELD COURT
City: LAKE FOREST
State: IL
Zip: 600454811
Other than USA:
Registered Agent:
Name: C T CORPORATION SYSTEM
Address Line 1: 800 S. GAY STREET
Address Line 2: SUITE 2021
City: KNOXVILLE
State: TN
Zip: 379299710
MANAGERS / KEY PERSONNEL
Mr. Patrick C.
Mackey Chief
Operating Officer
Mr. Mark
Schwabero-Mercury Marine President
Mr. Kevin S.
Grodzki-Mercury MerCruiser President
AFFILIATED COMPANIES
The following is a
list of subsidiaries of the parent company as of December 31, 2006, omitting
some subsidiaries which, considered in the aggregate, would not constitute a
significant subsidiary.
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Brunswick
International Limited Delaware Sea Ray Boats, Inc. Florida
Parent Companies
Brunswick Corporation
Ticker Symbol on NYSE "BC"
Recent Close: 17.35
52Wk High: 34.99
52Wk Low: 14.46
Shares: 87.57M
Mkt Cap: 1.51B
Financials (In millions of USD)
Income Statement Quarterly(Dec '07) Annual(2007) Annual(2006)
Total Revenue 1,436.00 5,671.20 5,665.00
Gross Profit 256.00 1,143.10 1,225.70
Operating Income 14.20 107.20
341.20
Net Income
6.80 111.60 133.90
Balance Sheet
Total Current Assets 2,114.30 2,114.30 2,078.40
Total Assets 4,365.60 4,365.60 4,450.30
Total Current Liabilities 1,296.20
1,296.20
1,293.20
Total Liabilities 2,472.70 2,472.70 2,578.50
Total Equity 1,892.90 1,892.90 1,871.80
"'2007 was, to say the least, a very tough year for the marine industry,'
Chairman and Chief Executive Dustan McCoy told analysts in a conference call. He noted the fourth quarter generates the lowest number of sales, but acknowledged the company 'can't ignore the continued downturn' in demand 'in the context of the overall slowing of retail sales.'
Moody's Investors Service on Thursday placed Brunswick's debt under review for a
possible downgrade, saying it is 'concerned that discretionary consumer spending
will continue to decline, especially if the U.S. economy enters a recession.'
Brunswick reported net income of $6.8 million, or 8 cents a share, compared with
a net loss in the year-earlier period of $53.2 million, or 57 cents a share. But
a host of special items skewed both quarters, and without those factors
Brunswick's underlying earnings were down dramatically. Earnings from continuing
operations fell to $12.1 million, or 14 cents a share, from $44.2 million, or 47
cents a share. Sales in the latest period rose 4.7 percent, to $1.44 billion."
By James P. Miller | Chicago Tribune reporter
SUBSIDIARIES
There are no
subsidiaries.
BANKS
The name of the
primary bank could not be obtained at this time.
PAYMENT HISTORY
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BUSINESS DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61- |
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CATEGORY REPTD SALE TERMS $ $ % 30 60 90 91+ COMMENTS |
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FINCL SVCS 07-12 07-04 CONTRCT 200 0 0 0 0 0 0 |
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FREIGHT 08-02 07-07 VARIED 100 0 0 0 0 0 0 |
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INDUS SUPL 08-01 07-11 NET 30 200 0 0 0 0 0 0 CUST 5 YR |
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PERSNLSVCS 08-02 07-07 NET 60 0 0 0 0 0 0 0 |
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PERSNLSVCS 08-02 07-10 ROI 12200 0 0 0 0 0 0 |
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SAFTY PROD 07-12 00-00 NET 30 0 0 0 0 0 0 0 CUST 2 YR |
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TELECOM 08-01 00-00 NET 30 74000 74000 27 29 21 20 3 |
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TRANSPORTN 08-01 00-00 NET 30 0 0 0 0 0 0 0 PROMPT |
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TRUCK DLR 08-02 00-00 CONTRCT 1400 100 100 0 0 0 0 |
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COMMUN SVC 05-11 00-00 NET 30 14500 12600 62 38 0 0 0 |
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COMPUTERS 05-08 05-07 104400 70200 0 76 24 0 0 |
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FRGHT FWRD 05-11 00-00 NET 30 3900 100 0 100 0 0 0 |
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MARINE SUP 06-06 00-00 VARIED 100 0 0 0 0 0 0 |
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MISC MANUF 07-04 07-03 VARIED 17200 4100 0 100 0 0 0 |
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PACKAGING 06-09 00-00 NET 30 0 0 0 0 0 0 0 CUST 6 YR |
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TELECOM 05-07 00-00 NET 30 0 0 0 0 0 0 0 |
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CURRENT QUARTER 88100 74100 27 29 21 20 3 |
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Payment Trends |
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INDUSTRY BUSINESS BALANCE CUR 1- 31- 61- |
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DATE CUR DBT DBT $ % 30 60 90 91+ |
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-------- --- --- --- -------- --- --- --- --- --- |
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20080200 0 7 32 74000 27 29 21 20 3 |
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20080100 0 7 21 68400 35 32 30 3 0 |
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20071200 0 6 10 57600 39 57 4 0 0 |
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20071100 0 6 9 42500 50 45 5 0 0 |
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20071000 0 6 16 42900 42 37 17 4 0 |
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20070900 0 7 16 43000 42 37 17 4 0 |
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Payment History - Quarterly Averages |
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BALANCE CUR 1- 31- 61- |
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QUARTER YEAR DBT $ % 30 60 90 91+ |
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-------- ------ --- -------- --- --- --- --- --- |
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Fourth 2007 14 56100 40 44 15 1 0 |
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Third 2007 14 37600 46 36 15 3 0 |
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Second 2007 22 48700 35 36 19 7 3 |
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First 2007 24 53200 44 24 16 12 4 |
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Fourth 2006 7 56300 53 47 0 0 0 |
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FINANCIAL INFORMATION
All financial
statements are consolidated into those of the parent which are summarized
above.
CURRENT OPERATIONS
SIC Code: 3732
NAICS Code: 336612
Boat Building
Business Activity:
The Company is a
builder of boats.
The company
produces over 40 brands of pleasure boats that range from yachts to bass boats.
Brands include Baja (high performance boats), Bayliner (pleasure boats), Boston
Whaler (offshore fishing boats), Lund (fishing and utility boats)
Meridian (yachts),
Sea Boss (saltwater fishing vessels), Hatteras (yachts), and Triton (fishing
and pontoon boats).
The above address is the headquarters for the Company, consisting of
administrative offices.
PUBLIC RECORD
FILING INFORMATION
Filing Number: 2004-11493TL
Filing Type: STATE LIEN - WITHHOLDING
Filing Office: ALLEGANY COUNTY CIRCUIT COURT CLERK MD
Filing County: ALLEGANY
Filing Date: 03/05/2004
DEBTOR INFORMATION
Debtor: BRUNSWICK FAMILY BOAT CO INC
111 PPG RD SE
CUMBERLAND, MD 21502
Debtor Type: COMPANY
CREDITOR INFORMATION
Creditor: STATE OF MARYLAND
LIEN INFORMATION
Total Amount: $31,026.34
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Civil Case Number: 200700069475
Defendant: BRUNSWICK BOAT GROUP
SEA RAY BOATS
MERCURY MARINE
MERCURY MARINE DIVISION OF BRUNSWICK CORPORATION
RENIX CORPORATION
NEWPORT BOATS
Filing Date: 07/02/2007
Plaintiff: O'CONNOR ANDREW
FLOYD ZACHARY
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Name Searched: BRUNSWICK BOAT GROUP
Case Number: 06AS00021
Case Type: INJURY - OTHER
Defendant: BROTHERS BOATS
BRUNSWICK BOAT GROUP
SHAKESPEARE ELECTRONIC PRODUCTS GROUP
Filing Date: 1/3/2006
Filing Type: CIVIL
Plaintiff: FERRIS, ERNIE
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Name Searched: BRUNSWICK BOAT GROUP
Case Number: SCV SS115828
Case Type: CIVIL
Defendant: BRUNSWICK BOAT GROUP
BRUNSWICK CORP A CORPORATION
ELIMINATOR CUSTOM BOATS
ELIMINATOR INC
MERCRUISER
MERCURY MARINE
MERCURY MARINE MART INC
Filing Date: 5/21/2004
Filing Type: CIVIL
Plaintiff: ANDRADE NATHAN
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Name Searched: BRUNSWICK BOAT GROUP
Case Number: CIV VS700866
Case Type: CIVIL
Defendant: BRUNSWICK BOAT GROUP
CALIBER 1 MARINE
VOLVO PENTA OF THE AMERICAS INC
Filing Date: 6/6/2007
Filing Type: CIVIL
Plaintiff: MCKENZIE CHARLES
MCKENZIE MUFFIN
No other legal actions, Uniformed Commerical Code's or bankruptcy petitons were
found under the subject's name.
COMMENTS
Brunswick Family Boat Co. Inc., incorporated on November 10, 1972, engages as a
boat manufacturer or boats. The payment history is satisfactory. No bankruptcy
petitions were found at this time naming the subject.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)