Brunswick to Shut 4 Boat-Making Plants

Brunswick Corp., the world’s largest maker of recreational boats and marine engines, said it will shut four of its 22 U.S. boat-making plants and fire 650 employees, or about 7% of its boat unit’s work force. The company also posted a 4% decline in fourth-quarter earnings to $42.3 million, or 48 cents a share, as sales edged up 1.5% to $876.6 million. Brunswick, whose brands include Sea Ray and Bayliner boats and Mercury marine engines, said the plant closures are designed to make its manufacturing process more efficient and would have been done even without a softening economy. Brunswick said demand for large, expensive boats such as yachts has remained strong. The plants set for closure are in Georgia, Florida and the state of Washington. Shares of Brunswick, which also makes bowling balls and other recreational goods, fell 50 cents to close at $18.81 on the NYSE.