Struggling Datamarine forced to seek buyer
Article Abstract:
Datamarine International is negotiating the sale of a controlling interest in the company to two interested parties after suffering three years of consecutive losses and the impending maturity of a $3-million debt on Dec 2000. David Thompson, president of the Mountlake Terrace, WA-based marine electronics manufacturer, said the money generated from the sale would be used as working capital and in paying a $2.8 million debt to Alta Subordinated Debt Partners III. Datamarine reported a net loss of $867,260 for the quarter ending Apr 1, 2000.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2000
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OMC: the Genmar era begins
Article Abstract:
Genmar Holdings Inc has announced that dealers of Outboard Marine Corp (OMC), which it has acquired, will not have to pay floor plan interest costs. The company's chairman, Irwin Jacobs, declined to offer specifics on how Genmar plans to address such issues as warranties, rebates and dealer contracts until the deal was finalized but announced that there would be no bad news. Jacobs stated that Genmar will restart production of the OMC boat lines as soon as possible and re-sign nearly all of its existing dealers.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2001
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Lowrance stock soars on news of impending sale
Article Abstract:
Cobra Electronics Corp, based in Chicago, IL, on Jan 16, 2001 launched a tender offer to pay $8.25 a share for Tulsa, OK-based Lowrance Electronics Inc. The offer, which was announced on Jan 5, is supported by Cobra shareholders despite initial opposition from some shareholders. After the offer was announced, Lowrance shares soared to $8.12 per share, and Cobra stock increased from $5 to almost $6. The deal values Lowrance at around $53 million including the assumpton of debt.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2001
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