Garmin® selected as exclusive marine electronics supplier to IBBI

Monday, March 5, 2018 6:00 am CST

Dateline:

OLATHE, Kan.

Public Company Information:

NASDAQ:
GRMN
KYG372601099
"The IBBI and our member-owners feel that Garmin can provide premium marine electronics that meet our needs and, additionally, give customers what they expect. We look forward to a long and successful partnership."

OLATHE, Kan.--(BUSINESS WIRE)--Garmin International, Inc., a unit of Garmin Ltd. (NASDAQ:GRMN), today announced that is has been selected as the exclusive marine electronics supplier for the Independent Boat Builders, Inc. (IBBI), the industry’s largest purchasing cooperative comprised of a 19-member network of leading boat brands. Collectively, IBBI members build 20% of all boats sold in the U.S., and beginning Model Year 2019, the agreement will give members direct access to Garmin’s full line of marine electronics through 2023. The announcement is being made in conjunction with the IBBI’s Annual Meeting, March 5-7, 2018.

“We are honored the IBBI has chosen Garmin to be its exclusive supplier of marine electronics,” said Dan Bartel, Garmin vice president of global consumer sales. “We value this relationship with boat builders who are so well known in our industry for their quality and innovation, and we look forward to a providing them with best-in-class products and service for many years to come.”

Since 2014, Garmin has been a supplier of choice for the IBBI. Now, as the exclusive marine electronics supplier, IBBI members will benefit from Garmin’s extensive product portfolio that includes some of the industry’s most sophisticated chartplotters and touchscreen multifunction displays, sonar technology, high-definition radar, autopilots, high-resolution mapping and other products and services that are known for innovation, reliability, and ease-of-use.

“We are highly impressed with Garmin’s product selection, product quality, staff and state-of-art facility,” said Tom Broy, IBBI president. “The IBBI and our member-owners feel that Garmin can provide premium marine electronics that meet our needs and, additionally, give customers what they expect. We look forward to a long and successful partnership.”

Garmin is the world’s leading marine electronics manufacturer1 and was recently named Manufacturer of the Year for the third consecutive year by the National Marine Electronics Association (NMEA), an honor given to the most recognized marine electronics company for support of products in the field. Other Garmin marine brands include FUSION Entertainment, and Navionics, a premier supplier of electronic navigation charts.

For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garmin, or youtube.com/garmin.

1Based on 2016 reported sales.

About Garmin International Inc.: Garmin International Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, FUSION and Navionics are registered trademarks of Garmin Ltd. or its subsidiaries.

All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 30, 2017, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact:

Garmin International, Inc.
Carly Hysell, 913-397-8200
media.relations@garmin.com

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