Boating Industry

October 2016

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Page 11 of 67 12 | Boating Industry | October 2016 INDUSTRY NEWS of changes in ownership and leadership since the recession. In 2009, private investors purchased Donzi and Pro-Line from American Marine Holdings. Later that year, Liberty Investments purchased Fountain out of bankruptcy. In 2010, the brands consolidated production to Liberty's North Carolina facility. In 2012, Baja Marine, LLC, was organized to purchase the brands after another bankruptcy. As it struggled to rebuild its dealer network, the company launched a factory-direct ordering program for Donzi and Fountain in 2014. Most recently, company president Johnny Walker resigned at the end of 2015. IMG is investing heavily in new product development across all brands and preparing to launch new network development strategies, the company said. Bank of the West has been secured as the wholesale financial source for the company. Yamaha renames propeller business to Yamaha Marine Precision Propellers, Inc. Yamaha Marine Group has renamed its wholly owned subsidiary Preci- sion Propellers Industries, Inc., (PPI, Inc.) to Yamaha Marine Precision Propellers, Inc. Yamaha purchased Indianapolis-based PPI, Inc. in 2008. Since then, Yamaha Marine has experienced double-digit growth in propeller de- mand year over year, the company said. "Today, more than ever, we are focused on meeting the demands of Yamaha customers, so the time was right to change the name of the plant to reflect that direction," said Bill Boehman, vice president, Yamaha Marine Group. "And while we will continue to produce our Turbo Pro- pellers, which are a key part of Yamaha's Endless Propeller Solutions, we will discontinue production of non-Yamaha branded propellers to increase capacity even further." Industry applauds President Obama's decision to allow recreational fishing in expanded marine monument The recreational fishing industry is cheering the president's decision to allow fishing in the expanded Northwest Hawaiian Islands Marine Na- tional Monument. President Obama announced in August a vast expansion of the monument, known as Papahanaumokuakea, out to 200 miles or the limits of the U.S. Exclusive Economic Zone, creating the world's largest marine protected area. In 2006, President George W. Bush created the monument with a boundary which extended to 50 miles and excluded recreational fishing. The new Presidential Proclamation moves to conserve the physical and living marine resources within the Monument's waters. All com- mercial resource extraction activities including commercial fishing, oil exploration and mineral extraction are prohibited in the expanded areas. Non-commercial fishing, such as recreational fishing and resources for Native Hawaiian cultural practices, are permitted in the expanded Continued from page 11

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