Navico Group Announces Major Investment in its Lowell Facility to Establish Two Centers of Excellence for Metal Fabrication and Electrification Development
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Insights
The strategic investment by Navico Group into its Lowell, Michigan facility represents a significant commitment to advancing its competitive edge in metal fabrication and electrification within the marine and RV industries. Such capital deployment is often indicative of a company's anticipation of increased demand or a shift in market dynamics favoring these technologies. By enhancing manufacturing capabilities, Navico Group is likely positioning itself to meet the growing trend towards sustainable and efficient energy solutions in transportation, particularly as electrification gains momentum in marine applications.
For investors and stakeholders, this move signals Brunswick Corporation's proactive stance on innovation and market leadership. The creation of Centers of Excellence could translate to improved margins due to increased efficiency and product quality. Furthermore, the focus on custom battery development aligns with broader industry trends towards electrification, potentially opening new market segments and revenue streams for Brunswick Corporation.
The multimillion-dollar investment by Navico Group, a division of Brunswick Corporation, has the potential to impact the company's financials positively. By investing in advanced laser and robotic technology for metal fabrication and a state-of-the-art battery lab, Navico is expected to enhance its production efficiency and quality, which could lead to cost savings and higher profitability in the long run. Moreover, the emphasis on custom battery solutions and sustainable practices like achieving zero-waste-to-landfill status can improve the company's brand value and appeal to environmentally conscious consumers and investors.
It is essential to monitor how this investment will affect Brunswick Corporation's operating expenses and capital expenditures in the short term. However, the long-term benefits in terms of product differentiation and leadership in electrification technology could justify the initial expenditure and potentially lead to a favorable stock market response.
The commitment to sustainability at Navico Group's Lowell facility, particularly reaching zero-waste-to-landfill status, reflects a growing trend among corporations to integrate environmental considerations into their business models. Such initiatives often resonate with a segment of consumers and investors who prioritize corporate responsibility, potentially enhancing the company's reputation and customer loyalty.
The focus on sustainable practices not only supports Brunswick Corporation's environmental objectives but may also lead to operational efficiencies and cost reductions through waste minimization and recycling efforts. This approach to sustainability can serve as a differentiator in the market and contribute to the long-term resilience and success of the company.
LOWELL, Mich., Dec. 28, 2023 (GLOBE NEWSWIRE) -- Navico Group, a division of Brunswick Corporation (NYSE: BC) and the world’s leading supplier of integrated systems and products for the marine and RV industries, has announced a multimillion-dollar investment in its Lowell, Michigan facility to create two Centers of Excellence in metal fabrication and electrification. The investment will increase quality, capacity, and efficiency, as well as improve product manufacturing capabilities.
“Navico Group is committed to being a leader in metal fabrication and electrification for the industries we serve, and this investment is a testament to that” said Brett Dibkey, Navico Group president. “The new manufacturing capabilities that we are implementing in the Lowell facility will enhance product development agility and speed-to-market. Additionally, our focus on custom battery development supports Brunswick’s broader electrification efforts as part of our overall ACES strategy.”
The metal fabrication Center of Excellence will be equipped with the latest laser and robotic fabrication technology to aid in the development and production of high-quality products for the marine industry. Most of these products will come to market under the Attwood brand.
The new state-of-the-art battery lab and assembly capability will aid in the design and development of custom power solutions for the nearly 20 end-markets that Navico Group serves with brands like Mastervolt and RELiON Battery. The lab will enable engineers to develop and test end-to-end battery technologies, from bespoke battery management systems (BMS) to emergent cell chemistries. The establishment of this battery facility will bolster the global expansion of Navico Group’s electrification efforts and become the second electrification Center of Excellence in addition to the company’s Amsterdam facility.
“The new battery facility is another example of our commitment to developing and delivering world-class low- and high-voltage electrification solutions to our customers around the world.” added Dibkey. “The shift to electrification is taking place in the industries that we serve, and this investment allows us to immediately serve our global customers.”
Sustainability is also a large focus at the Lowell facility. It is the first Navico Group site to reach zero-waste-to-landfill status, meaning
“The decision by Navico to expand its manufacturing capabilities in Michigan underscores our state’s leadership in future mobility and electrification, as well as the strength of our business climate and talented workforce,” said MEDC State of Michigan Chief Mobility Officer Justine Johnson. “We’re pleased to join our local partners in supporting this expansion, and look forward to working with the company as it continues to grow and add jobs for Michigan residents.”
For more information about Navico Group, please visit www.navico.com.
About Navico Group
A division of Brunswick Corporation (NYSE: BC), Navico Group is the world’s leading supplier of integrated systems and products to industries ranging from marine to recreational vehicle and beyond. The Navico Group portfolio is comprised of industry-leading brands in power management, digital control & monitoring, networked devices, and marine electronics. Some of the many brands that make up Navico Group include: Ancor, Attwood, B&G, BEP, Blue Sea Systems, C-Map, CZone, Lenco, Lowrance, Marinco, Mastervolt, MotorGuide, Progressive Industries, ProMariner, RELiON, Simrad, and Whale.
About Brunswick Corporation:
Brunswick Corporation (NYSE: BC) is the global leader in marine recreation, delivering innovation that transforms experiences on the water and beyond. Our unique, technology-driven solutions are informed and inspired by deep consumer insights and powered by our belief that “Next Never Rests™”. Brunswick is dedicated to industry leadership, to being the best and most trusted partner to our many customers, and to building synergies and ecosystems that enable us to challenge convention and define the future. Brunswick is home to more than 60 industry-leading brands. In the category of Marine Propulsion, these brands include, Mercury Marine, Mercury Racing, MerCruiser and Flite. Brunswick’s comprehensive collection of parts, accessories, distribution, and technology brands includes Mercury Engine Parts & Accessories, BLA and Land ‘N’ Sea. Our Navico Group and its industry-leading technology brands consist of Lowrance, Simrad, B&G, Mastervolt, RELiON, Attwood and Whale. Our Boat brands are some of the best known in the world, including Boston Whaler, Lund, Sea Ray, Bayliner, Harris Pontoons, Princecraft and Quicksilver. In addition, our service, digital and shared-access businesses include Freedom Boat Club, Boateka and a range of financing, insurance, and extended warranty businesses. While focused primarily on the marine industry, Brunswick also successfully leverages its portfolio of advanced technologies to deliver an exceptional suite of solutions in mobile and industrial applications. Headquartered in Mettawa, IL, Brunswick has approximately 18,000 employees operating in 27 countries. In 2023, Brunswick was named by Forbes as a World’s Best Employer and as one of America’s Most Responsible Companies by Newsweek, both for the fourth consecutive year. For more information, visit brunswick.com.
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