U.S. Bankruptcy Court for the Northern District of Illinois approved the sale of Outboard Motor Corp. and its assets to JTC Acquisition LLC and Bombardier Motor Corp. of America Friday, according to a press release.

Both companies are players in the recreational marine industry. Bombardier is a subsidiary of Canada-based Bombardier Inc., and JTC Acquisition is an affiliate of U.S.-based Genmar.

OMC approved the $95-million bid Feb. 5 in an auction of its assets that was part of the Chapter 11 bankruptcy process.

Bombardier will get the OMC engine business and assets and Genmar will obtain the boat facilities and assets in the sale.

The sale must still get Federal Trade Commission approval before it is final but no problems are expected.

According to the press release, a spokesman said that Genmar may hire back many of the laid-off OMC workers and try to build up and improve the boat lines made famous by OMC.

OMC filed for bankruptcy and protection from creditors in late December.

In December, the entire work force at OMC Aluminum Boat Group, Syracuse, received a FedEx notice informing them they would be permanently laid off after two temporary lay-offs were called Dec. 1 and 15.

At that time, OMC corporate headquarters in Waukegan, Ill., had no comment and the notice workers received said the operating performance of OMC has been "disappointing" the last few months.

A spokesman for OMC could not be reached to discuss when or if the Syracuse plant would re-open. [[In-content Ad]]