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Company Profile

When Minneapolis businessman and investor Irwin Jacobs purchased Lund Boat Company in 1978, it signaled more than just the founding of Genmar. It also represented the beginning of a significant era in the boat-building industry. Genmar has continued buying boat manufacturers through the 1980s and 1990s, and now produces a unique collection of some of the most famous names in recreational boating. With products that cover virtually every style of powerboat, from cartop fishing skiffs to luxury yachts, Genmar accounts for more than 10 percent of all new boats sold with outboard, sterndrive and inboard power. With production facilities in six states and Canada, and an employment base of nearly 5,000 people, Genmar and its boats represent quality design and durable, long-lasting construction. Now the United States' second largest manufacturer of motorized recreational boats, Genmar uses innovative technology and designs to set new standards in the boat manufacturing industry. A diverse line of boats made primarily of fiberglass and aluminum includes industry-leading brands such as Aquasport, Carver, Crestliner, Glastron, Larson, Logic, Lund, Nova, Ranger, Scarab, Trojan and Wellcraft. Genmar maintains approximately 1,300 independent authorized dealers in all 50 states and in more than 30 countries. Genmar has been an industry leader in using and developing new technology, not only to build boats that are the envy of the boating industry, but also to increase efficiency in the manufacturing processes. Genmar recently acquired VEC(tm) and Roplene(tm) technologies through agreements to purchase the companies Pyramid and Logic. With those technologies, Genmar expects to transition from a boat manufacturer and marketer to a company that develops unique manufacturing processes for marine and non-marine industries. Marketing is still one of the keys to Genmar's success. The company has initiated strategic marketing alliances with an extensive dealer network, which uses dealer-training programs that focus on customer service and support. Additional visibility and sales come from partnerships with retailers like Wal-Mart and CITGO. Genmar's success rests upon maximizing innovative technologies and brand strengths to increase market share, and pursuing additional opportunities in the marine and non-marine industries. The company's priorities include the following: Building existing product lines, expanding the geographic marketplace and strengthening technological capabilities. Using strategic marketing initiatives to leverage brand names. Enhancing customer service and support through a superior dealer network. Improving manufacturing processes via proprietary technologies. Building a presence in the international market.