Brief: OXE Marine Gets EUR 2.8 Mln Order, Not To Pursue 50% 2020 Revenue Growth Target
17/09/2020 07:19
Sept 17 (Reuters) - OXE Marine AB (publ) OXEMA.ST :
* SAID ON WEDNESDAY AGREES ON EUR 2.8 MLN ORDER FOR 2021 AND
RESOLVES NOT TO PURSUE 50% REVENUE GROWTH TARGET FOR 2020
* SIGNS LOI WITH CURRENT CENTRAL AND SOUTH WEST US
DISTRIBUTOR
DIESEL OUTBOARDS LLC TO EXPAND ODN'S DISTRIBUTION TERRITORY TO
ALSO COVER SOUTH EAST US
* ON SIGNING THE DEFINITIVE DISTRIBUTION AGREEMENT, ODN WILL
PLACE
AN ORDER FOR OXE UNITS TO BE DELIVERED DURING 2021 FOR A VALUE
OF APPROX. EUR 2.8 MILLION
* DUE TO COVID-19 RELATED SUPPLY CHAIN DISRUPTIONS AND
PREVIOUS
DECISION TO STOP PRODUCTION AT UFAB, CO RESOLVED NOT TO PURSUE
ITS 50% REVENUE GROWTH TARGET FOR 2020
* ORDER TO BE PLACED ON SIGNING DEFINITIVE DISTRIBUTION
AGREEMENT
REPRESENTS 50% INCREASE OF TOTAL OXE ORDER BOOK AND FURTHER
CONFIRMS STRATEGIC RATIONALE OF RELOCATING PRODUCTION OF OXE200
TO US
Source text for Eikon: urn:newsml:reuters.com:*:nWkr7DvQSr
Further company coverage: OXEMA.ST
(Gdansk Newsroom)
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