SOURCE: Malibu Boats

Malibu Boats

August 26, 2016 11:15 ET

Malibu Boats Licenses Its Revolutionary Surf Gate to Chaparral Boats

LOUDON, TN--(Marketwired - August 26, 2016) - Malibu Boats (NASDAQ: MBUU), the world's largest manufacturer of watersports towboats, announced today that it has licensed its industry-leading wakesurfing innovations to Chaparral Boats. Chaparral, recognizing that Malibu's Surf Gate™ was the first and is still the best performing surf innovation on the market, will manufacture and use its version of the technology to equip certain models within its product line.

Many watersports pros consider Malibu's Surf Gate to be the platinum standard for wake and wave creation. This system ensures wakesurfing enthusiasts large, clean, smooth surf waves on either side of the boat.

"We are excited and proud to license our innovations to Chaparral. Chaparral is a premium brand and market share leader with a 52 year history of building boats with exceptional quality," said Malibu Boats CEO Jack Springer. Springer commented further by saying, "Chaparral conducted itself honorably by requesting a license to our technology."

With this license, Chaparral can offer this premium surfing experience into market segments not directly served by Malibu or its Axis Wake Research brand. According to Springer, "This license will help introduce even more people to the fun of wakesurfing, and to Chaparral's version of Malibu's wakesurfing technology, which produces the most amazing waves for that sport."

According to Buck Pegg, Chaparral's Founder and Executive Vice President "Building Chaparrals with our version of Malibu's patented wakesurfing technology is a game changer. It is exciting to introduce wakesurfing to our sterndrive customers. Combining our version of Malibu's innovations with the Volvo Penta Forward Drive creates an incredible wake. We have the opportunity to introduce new buyers to the sport of wake surfing."

Surf Gate

The patented, hydraulically operated Surf Gate™ can transform watersports wakes into the most surfable and customizable wave possible. On a boat equipped with Surf Gate™, there's no need for passengers to pile up and lean the boat to affect the wave.

About Chaparral Boats

Chaparral Boats, Inc. and Robalo Boats LLC are leading manufacturers of fiberglass boats under two brand names: sterndrive, jet and outboard pleasure boats by Chaparral, including H2O Sport and Fish & Ski Boats, SSi and SSX Sportboats, Sunesta Sportdecks, Signature Cruisers, Vortex Jet Boats, SunCoast Outboard Sportdecks, and outboard sport fishing boats by Robalo. Chaparral Boats and Robalo Boats are subsidiaries of Marine Products Corporation (NYSE: MPX). For more information about Marine Products Corporation, Chaparral, and Robalo visit our websites at www.marineproductscorp.com, www.chaparralboats.com, www.vortexboats.com, and www.robalo.com.

About Malibu Boats

Malibu Boats is the world's largest manufacturer of watersports towboats, owning over one-third of the worldwide market share. Malibu sells the Wakesetter, M235 and Response models -- as well as the Axis Wake Research brand -- through a global dealer network. With approximately 525 employees worldwide and three manufacturing facilities in California, Tennessee, and Australia, Malibu builds boats to help you live a #lifewithoutlimits on the water. (NASDAQ: MBUU) | @malibuboats | #evolutionproseries

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