Navico Group, a division of Brunswick Corporation (NYSE:BC), has revealed a multimillion-dollar investment in its Lowell, Michigan facility. The specific financial terms were not disclosed.

The investment is aimed at creating two Centers of Excellence in metal fabrication and electrification and is expected to increase quality, capacity, and efficiency, as well as improve product manufacturing capabilities.

The metal fabrication center of excellence will be equipped with laser and robotic fabrication technology to help develop and produce products for the marine industry. 

The majority of the products will be brought to the market under the Attwood brand.

The battery lab and assembly capability will aid in the design and development of custom power solutions for the nearly 20 end-markets that Navico Group serves.

The facility is expected to bolster the global expansion of Navico's electrification efforts and become the second electrification center of excellence in addition to the company's Amsterdam facility.

"The new manufacturing capabilities that we are implementing in the Lowell facility will enhance product development agility and speed-to-market," said Brett Dibkey, Navico Group president.

Price Action: BC shares closed lower by 0.50% at $98.39 on Thursday.