OXE Marine has received has received an order worth US$0.9 million to supply its diesel outboard engines to a US boat builder over a period of 12 months.
The total purchase order value is $3.3 million with $0.9 million being unconditional and USD 2.4M being conditional on certain contracts being received by the boat builder.
The engines to be delivered are based on the OXE200 platform and modified to be used for an inboard application with the engines assembled in OXE’s US assembly facility.
Orders are planned for delivery starting in Q3 2024 and over the following 12-month period.
“This order shows the progress that OXE Marine is making in the US market with its marine diesel solutions and the ability to have the engines assembled in the US.” says Jeremy Davis, CCO / xxecutive vice president of OXE Marine Inc.
Paul Frick CEO of OXE Marine AB, added: “The order demonstrates that OXE Marine is able to offer a variety of propulsion solutions to the marine market with a compact design and impressive power to weight ratio, the OXE engines used in outboard applications can also be an attractive solution for inboard applications.”
OXE Marine is a wholly owned subsidiary of OXE Marine AB.
As part of the order, OXE Marine will receive an advance payment of $0.9 million and the order is expected to contribute positively to both OXE Marine’s profitability and cash flow.
