Saxdor Yachts is to move production of its boats to Finland. The Finnish company has previously manufactured all its boats in Poland.
The motorboat manufacturer will start production in the Larsmo municipality in 2024, having rented around 4,000sqm of factory space from Baltic Yachts.
“The Larsmo factories are expected to be able to achieve a turnover of around 50 million euros when production is ramped up,” explained Saxdor board member and advisor Daniel Nyman.
“At Larsmo, we are trying to move forward with a really fast schedule. We are starting to manufacture larger 40 and 46ft models there.”
The boatbuilder intends to directly employ around 150 people in Finland.
And Daniel explained that Larsmo has always been connected to boat building with Baltic Yachts and Bella Boats already operating there.
And he added that Saxdor is moving against the current, with the Finnish boat industry suffering from a recession and small boat sales declining.
Saxdor operates in the premium export market, with more than 98% of its boats sold around the world.
“All models for 2024 have been sold out, and there are not enough products for the current dealer network. Due to strong demand, we are suffering from an acute capacity shortage,” added Daniel.
“The biggest reason for the additional factory in Finland is that the capacity of our current factory in Poland is not enough. The decision was also accelerated by the fact that the bigger and more expensive boats are so popular around the world.”
Saxdor believes that efficient manufacturing and high quality will compensate for higher production costs in Finland compared to Poland.
And the boatbuilder also pointed out that there is a good supply of skilled labour in Finland.
Saxdor built a ten-million-euro boat factory in Poland in 2022. It has a production facility of around 10,000sqms in Elk.
The boat manufacturer forecasts its turnover will exceed 100 million euros in 2024 and 150 million euros in 2025. In 2023, the turnover was just under 75 million euros.
Saxdor’s flagship model the 460 will be launched in 2025.
