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4TH in a series
In the aftermath of the Whittaker takeover battle, Brunswick made a fresh beginning under the leadership of its new CEO, Jack Reichert, rededicating itself to its heritage of leadership in the
fields of recreation and leisure.
1983
Reichert's first 1983 priority as CEO was to streamline the Company, and he did so by eliminating two tiers of management, consolidating eleven divisions
into eight, and bringing decision-making authority closer to the customer by decentralizing the organization.
Reichert became Chairman of the Board in September, and during the year, he published the
statement of values whose roots traced back to the Company's founding: a devotion to quality in everything that Brunswick makes or does, a dedication to serving customers,and a concern for the Company's people.
Demonstrating the commitment inherent in the third of those three values, 1983 witnessed the origination of the Brunswick Employee Stock Owners Plan. Through its annual distributions of Brunswick stock to each
qualified Brunswick employee, the Plan has sought to make every employee an owner of the Company.
1985
Two years later, Brunswick stock had reached an all-time high. In another 1985 development,
the Brunswick Foundation funded the restoration of the Brunswick Library in Chicago's St. Ignatius College Preparatory School. A masterpiece in wood, the library had originally been built in 1872 by craftsman under
the personal supervision of the Company's founder, John Brunswick.
Within the period of a few short days in December, Brunswick boldly moved to become the undisputed global leader in recreational boating, by
acquiring the world's two largest boat manufacturers: Bayliner Marine Corporation and Sea Ray Industries. Bayliner had revolutionized the boating industry by offering customers a complete factorybuilt assembly of
boat, motor and trailer; an innovative concept which provided boat buyers greatly enhanced convenience, while at the same time dramatically cutting costs, so the savings could be passed on to the consumer.
SeaRay's ingenious founder, C.N. Ray, was a leader in bring fiberglass and reinforced plastic into boat building. These new departures enabled Sea Ray to become an industry leader, as it developed its reputation for
highly styled, top quality boats at affordable prices.
1987
Buoyed by the surging consumer demand 1987 for pleasure boats, Brunswick sales rose 80%, reaching a new all-time record of $3.1
billion.
1988
The late eighties were years of addition and subtraction for Brunswick. Four additional boat manufacturers were acquired: The Maine Group, Inc.; MonArk Boat Company Fisher Marine;
and Starcraft Power Boats. The five brands built by these manufacturers (Starcraft, Fisher, MonArk, Astro and ProCraft) were augmented by the transfer of Spectrum boat operations from the Bayliner organization, to
subsequently form the Fishing Boats.
One the year's highlights took place when the Chevrolet Division of General Motors contracted with Mercury Marine to produce the LT5 high performance aluminum engine for
the new ZRl Chevrolet Corvette.
1988 also marked the debut of bowling as an Olympic exhibition sport, when the Summer Games were held in Seoul, Korea. 20 nations competed in bowling's first Olympic finals.
1990
The marine industry was greatly affected by the 1990 economic recession of the late eighties and early nineties. Brunswick responded quickly and decisively by downsizing its boat and engine
operations domestically in order to improve efficiencies and reduce inventories. During this period, international sales grew to almost 30% of total revenue.
Bowling moved another step closer to recognition
as an international athletic competition of the first magnitude, when it appeared as an exhibition sport at the Goodwill games under Brunswick's sponsorship.
1991
During Operation Desert Storm,
Brunswick's Defense Division produced more than 30 different products, including radomes for the highly praised Patriot missile, Tactical Air-Launched Decoys (TALDs), camouflage nets, and chemical detection devices.
1992
Bowling moved another 1992 step along the path to recognition as an Olympic sport, thanks to Brunswick's installation of a state-of-the-art Recreation Center in Barcelona's Olympic
Village. The Center was immensely popular, with Olympic officials and athletes from 170 countries bowling and playing billiards almost non-stop every day.
1994
As John Brunswick's Company
reached the threshold of it's 150th Anniversary, the inherent strengths it had built over the past century and a half once again began to reassert themselves. Sales and earnings have dramatically rebounded, and its
marine operations have experienced an Impressive comeback.
end of the forth page.
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