Nimbus Group has completed negotiations with trade unions to close its production facilities in Kuopio, Finland.
A total of 108 employees, most of whom are blue collar, will be laid off because of the closing.
The decision was previously announced in September when Nimbus Group said it intended to close its Finnish production facilities in Kuopio and Luoto due to overcapacity outside the premium segment.
The boatbuilder says the decision is due to the weak demand that has characterised the market for smaller boats since the Covid pandemic.
The facility in Kuopio primarily produces smaller boats and has suffered substantial losses due to declining demand.
The plant will gradually shut down during 2025 with staff who are currently furloughed returning temporarily to duty to decommission the plant.
Alongside the closing, Nimbus Group is carrying out a review and adaptation of its product portfolio.
While the review is being carried out, Nimbus Group is retaining the provision for a restructuring reserve of a total of MSEK 55 that was announced during the third quarter 2024.
The group’s brands are not affected by the closing.
This agreement offers Nimbus Group a great opportunity to expand within the premium segment in some of the world’s most interesting boating markets.
Jan-Erik Lindström
The news comes as Nimbus Group signs a new dealer distribution agreement with ACY Yachts to sell Nimbus brand boats in Texas and the Caribbean.
Headquartered in Annapolis, Maryland, ACY Yachts is a subsidiary of Fountaine Pajot Group, specialising in both retail sales and charter services across several key boating markets in the US and Caribbean.
“This agreement offers Nimbus Group a great opportunity to expand within the premium segment in some of the world’s most interesting boating markets, a key strategic priority for Nimbus Group,” explained Jan-Erik Lindström, Nimbus Group CEO.
The new dealer appointment gives ACY Yachts exclusive rights to retail sell Nimbus boats along the Texas coastline as well as into the US and British Virgin Islands.
ACY Yachts will also sell Nimbus boats into its charter programs, which operate under the subsidiary name, Waypoints.
Waypoints has full-service charter operations in Maryland, Florida, the Bahamas, British Virgin Islands, and US Virgin Islands.
“ACY’s yacht ownership program allows prospective boat buyers to first experience the Nimbus yachts through charters or rentals, guiding them on the journey to eventual ownership — all while enjoying some of the world’s most stunning destinations,” said Chris Bent, president of ACY Yachts.
Nimbus Group brands are Alukin, Aquador, Bella, EdgeWater, Falcon, Flipper, Nimbus and Paragon Yachts.
In 2023, the Group acquired North American powerboat manufacturer EdgeWater Power Boats. In 2023, the Group had sales of SEK 1,898 million and 511 employees.
