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SYRACUSE - Outboard Marine Corp., Aluminum Boat Group, Syracuse, and its parent group, OMC, Waukegan, Ill., were recently purchased by Detroit Diesel Corp.
The Syracuse facility employs 238 people, and the impact of the change on personnel policies and management is unknown.
The agreement cost Detroit Diesel approximately $500 million, including the assumption of OMC's existing debt of approximately $180 million.
Roger Penske, chairman of Detroit Diesel, said, "Our objective is to further expand our worldwide marine capabilities beyond diesel engines with the OMC enterprises. ..."
OMC is a leading manufacturer of marine engines and boats and related parts and accessories. It is the second largest manufacturer of outboard engines in the world and the second largest boat builder in the United States.
Detroit Diesel Corp. designs and manufactures diesel and alternative fuel engines. Its headquarters is in Detroit, Mich.
