Raymarine nearly broke?

[Loren Beach]

After seeing some mention on a large UK sailing site,
http://www.ybw.com/forums/showthread.php?t=221136

I did some searching and found quite a few more links around the 'net.
It sounds worrisome.
http://www.boatered.com/forum/topic.asp?TOPIC_ID=133405

http://www.boatingbusiness.com/arch...crash_after_raymarine_breaches_bank_covenants

There are more, and I am sure, even better links...

It appears that they are having major $$ problems, and nearly got bought (and might yet get bought) by Garmin.

After experiencing ongoing QC problems with my Garmin gear, that would be quite a disappointing outcome.

(Sidebar: If I had the $$ to invest in navigation electronics again, I would follow the lead of the commercial/fishing boaters and go with all Furuno...)

All opinions subject to change, editing, and worth less than a penny, however!


Regards,
Loren

 

[Lucky Dog]

Wow we need to know more. I am planning go with raymarine for GPS/chart, depth and autopilot.

Isn't Raymarine's parent company Ratheon?

I will look at Practical Sailor.

ml

 

[Sven]

Here is another thread that has been going on for a while, pitting detractors against supporters as they discuss the status of the company:

http://www.cruisersforum.com/forums/f13/raymarine-again-in-the-news-33261.html



-Sven

 

[Cory B]

Honeywell?

Check out www.panbo.com. They claim Raymarine will be bought by Honeywell.

 

[Chris A.]

If I read that correctly, it states that Honeywell is suing Raymarine (among others) but does not identify Honeywell as a potential buyer or the company. It does appear that Raymarine is on the block however.

Cheers,

 

[Loren Beach]

http://www.yachtingmonthly.com/news/446307/raymarine-facing-new-buyout

Another buyout deal about to happen, maybe.

LB

 

[Tom Metzger]

At the Miami Boat show (Feb 13) I brought this up to the Raymarine peddler and he said that a sale was in the works, and it was not Garmin.

The notes that they can't pay are due at the end of this month which would be liquidation time if the sale doesn't go through. They do claim to be also trying to get further financing.

Here is Raymarine's statement dated today.

http://www.londonstockexchange.com/...rket-news-detail.html?announcementId=10406490

 

[Loren Beach]

Bought by FLIR

Raymarine was sold to Flir.
At least Flir seems interested in keeping the product line intact.
One of several stories about this is attached.
Loren