| Type | Public |
|---|---|
| Traded as | NYSE: BC |
| Industry | Conglomerate |
| Founded | September 15, 1845 |
| Founder(s) | John Moses Brunswick |
| Headquarters | Lake Forest, IL, U.S. |
| Area served | Worldwide |
| Key people | Dustan E. McCoy (Chairman of the Board) & (CEO) |
| Revenue | $ 4.708 billion (2008) |
| Operating income | $ -611.60 million (2008) |
| Net income | $ -788.10 million (2008) |
| Total assets | $ 3.223 billion (2008) |
| Total equity | $ 729.90 million (2008) |
| Employees | 19,760 (July 2009) |
| Divisions | List of Divisions |
| Website | Brunswick.com |
The Brunswick Corporation (NYSE: BC), formerly known as the Brunswick-Balke-Collender Company, is a United States-based corporation that has been involved in manufacturing a wide variety of products since 1845. Brunswick's global headquarters is in the northern Chicago suburb of Lake Forest, Illinois. In 2007, it had sales of US$5.671 billion with net earnings of $111.6 million.[1]
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Brunswick was founded by John Moses Brunswick who came to the United States from Switzerland at the age of 15. The J.M. Brunswick Manufacturing Company opened for business on September 15, 1845, in Cincinnati, Ohio. Originally J. M. Brunswick intended his company to be mainly in the business of making carriages, but soon after opening his machine shop, he became fascinated with billiards and decided that making billiard tables would be more lucrative, as the better tables then in use in the United States were imported from England. Brunswick billiard tables were a commercial success, and the business expanded and opened up the first of what would become many branch offices in Chicago, Illinois in 1848.
In 1873, the Brunswick company merged with competitor Great Western Billiard Manufactory owned by Julius Balke to become the Brunswick & Balke Company, incorporated with a capital stock of $275,000. In 1884, another competitor, H.W. Collender Company of New York (founded by Hugh W. Collender), was absorbed to form the Brunswick-Balke-Collender Company (or B.B.C. Company for short[2]) with capital of $1.5 million.
The company expanded into making a number of other products. Large ornate neo-classical style bars for saloons were a popular product. Bowling balls, pins, and equipment led a growing line of sporting equipment. It popularized bowling balls of manufactured materials, vulcanized rubber at first; earlier bowling balls had been solid wood.
In the early 20th century, Brunswick expanded the product line to include such diverse products as toilet seats, automobile tires, and phonographs. In the late 1910s, they introduced a quickly-popular line of disc phonograph records, under the name Brunswick Records. In 1930, Brunswick sold the control of the record company to Warner Brothers and came out with a line of refrigerators.
During World War II, Brunswick-Balke-Collender made small target-drone aircraft for the U.S. military.
After the war, Brunswick introduced a line of school furniture. In 1955, the Brunswick "Model A" Mechanical Pinsetter fully automated unit premiered, for the purpose of handling bowling pins for the sport of tenpins, in competition with American Machine and Foundry (AMF). Previously, Brunswick had made two models of semi-automated, manually operated "spotting tables" for the tenpin sport, that the "Model A" unit replaced. The decade also saw the introduction of a line of golfing equipment to compete with AMF in the leisure products and sporting goods markets.
The Brunswick-Balke-Collender Company officially changed its name to the Brunswick Corporation on April 10, 1960. The following year the company reported sales of $422 million. Brunswick acquired Mercury Marine in 1961. In the 1970s, Brunswick introduced the automatic scorer, which electronically tallied the score instead of the bowler doing it by hand.
In the 1980s, Brunswick became a major maker of yachts and pleasure boats, whose brands include Bayliner, Boston Whaler, Maxum, Sea Ray, and Trophy.
During the Gulf War, Brunswick supplied the military with camouflage nets. They also made radomes for the Patriot missile.
In 1997, Brunswick purchased the Roadmaster bicycle division, one of the last U.S. manufacturers of low-cost, mass-market bicycles. However, it became apparent that continued U.S. manufacture of such products was not viable in the presence of surging low-priced imports from overseas producers, primarily China. In 1999, Brunswick sold its Roadmaster bicycle division and brand to Pacific Cycle, who went on to acquire several U.S. bicycle brands for use on bicycles imported from China.
As of the early 21st century, the Brunswick Corporation still manufactures sporting and fitness equipment (Life Fitness, Hammer Strength, Parabody) in addition to boats (Sea Ray, Bayliner, Maxum, etc.) and marine engines under the Mercury Marine brand name.
In 2004, Brunswick acquired Lowe Boats. The same year, the company also purchased Northstar Technologies, a leading marine electronics provider based in Acton, Massachusetts, from Canadian Marconi Corporation (now CMC Electronics, a wholly owned subsidiary of Esterline Technologies Corporation). Brunswick then merged Navman, based in Auckland, New Zealand, with Northstar to make Northstar/Navman a supplier to the Brunswick Boat Groups. Brunswick also acquired Mx-Marine. When George Buckley, CEO at the time, left to join 3M in 2006, new leadership decided to sell Northstar, Navman and Mx-Marine. Navico now owns those three brands in addition to the Eagle, Lowrance, B&G, and Simrad lines.
On November 9, 2006, the company announced that it was closing two plants and downsizing the workforce by 650 employees, citing slow demand for new boats. Numerous other layoffs occurred prior to this in the Brunswick New Technologies division.
Brunswick reports that in the past five years, their international sales have grown at twice the rate of domestic sales. It has established regional headquarters in Verviers, Belgium; Monterrey, Dandenong, Australia; and Dubai to better serve its customers by designing, engineering, manufacturing and distributing products based on local needs, using local talent.[3]