Posted by Steve Body on December 28, 2000 at 17:10:48:
In Reply to: Re: O.M.C. Files For Bankrupt Protection posted by Taylor on December 28, 2000 at 15:09:34:
If you will read the press release below it states that OMC is closed indefinitely. I Fish professonaly and have seen many engines at the "Service Pro's" every evening after each round of the Bass Masters. A lot of the reasons for burning up DFI engines of all brands is the government regulations for a cleaner burning outboard engine by 2006. This is causing the engines to run much leaner than they can stand. Boy am I glad we dont get all of the government that we pay for. Again Just my .02.
Steve Body Http://www.fishingalabama.net
Friday December 22 6:56 PM ET
Outboard Marine Files Chapter 11
WAUKEGAN, Ill. (AP) - Hard hit by a slump in sales, Outboard Marine Corp. on Friday filed for Chapter 11 bankruptcy protection, days after announcing it would shut down indefinitely and lay off 1,190 workers.
OMC, based in Waukegan, Ill., is among the world's largest makers of boats and motors, selling under several brand names, including Chris-Craft and Evinrude.
The company did not return a phone message Friday from a reporter seeking to clarify how the Chapter 11 filing affects the layoffs and plant closing. The phone listed for OMC's bankruptcy attorney, David S. Kurt, went unanswered late Friday afternoon.
Outboard Marine said it has received a commitment from its bank group to provide financing totaling $35 million while the company restructures.
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