|Brunswick Corporation : Brunswick Innovation Laboratory Gets New Name, New Home at Research Park-University of Illinois|
METTAWA, Ill. Dec. 13, 2017 - Brunswick Corporation (NYSE: BC) recently celebrated the grand opening of new quarters for what has been known as the Brunswick Innovation Laboratory in the Research Park at the University of Illinois at Urbana-Champaign. But with its new building, the lab also now has a new name - the Brunswick I-JET Lab.
Inspired by the students and the staff who work there, the facility's new name incorporates the acronym for Brunswick Illini - Joint Explorations in Technology lab.
The new name fits with the changing times and the Company's evolving business model, explained Brunswick Chairman and Chief Executive Officer Mark Schwabero, who led a contingent of the firm's top executives who attended the event.
"Brunswick will mark its 175th year in business in 2020," Schwabero noted. "You don't stay in business that long without being innovative, agile and resilient. Technology and innovation have always been important to us, and never more so than today as we see consumers desiring even more in the way of features and connectivity in both marine and fitness."
"It also is fitting that 'Illini' has a prominent position in our facility's new name," explained Brunswick Chief Technology Officer David Foulkes. "Obviously, the close ties to the University of Illinois, with its resources, staff and gifted students, are truly unique. These strengths, along with those of other companies within the park, offer an atmosphere conducive to collaboration and learning.
"Further, the 'JET' portion of the name aptly describes the urgency and energy with which those at the Brunswick I-JET Lab approach their duties and responsibilities," Foulkes said.
Foulkes pointed out that research and development is a continuous effort throughout Brunswick to drive innovation. These efforts have been solidly productive as the Company continues to outpace its competition in the introduction of new products to market as well as securing patents on its technologies and features. In 2016, Brunswick ranked among the top 25 Illinois-based companies in securing patents.
The Brunswick I-JET Lab works closely with Brunswick corporate and divisional resources to further accelerate Brunswick's progress in areas of high interest, including the Internet of Things, advanced analytics, and a range of human-machine interaction and enhanced user-experience technologies.
More than 100 companies, including industry leaders such as Abbott, John Deere and Yahoo, have facilities within the 200-acre research park, which is adjacent to the university's campus.
"It feels good to have a place to call home," Schwabero concluded. "Our name is on the building and on the door, but what truly excites us is the work that is being done inside by the talented and dedicated researchers and students."
The newly constructed building is at 1904 South First Street. Beginning last April, the Brunswick I-JET Lab had occupied temporary quarters. Brunswick is the first company in the Research Park's new growth facility to mark such an event.