Cimco Marine AB (publ) launches 150 hp OXE – production of 200 hp OXE is expected to resume in Q2
Cimco Marine AB (publ) will commence production and delivery of the 150 hp OXE diesel outboard engine this week. During the autumn, the company has worked hard to finalise the 150 hp model. The response from our distributors has been positive.
Separately, the root cause for the turbo leakage in the 200 hp OXE has been identified. The production of 200 hp OXE is expected to recommence in Q2.
– The launch of 150 hp OXE has been well received by our distributors and end customers. Some of our customers are to convert their 200 hp OXE orders to 150 hp OXE. Overall, of course, it is very pleasing that we now have 150 hp OXE in production, whilst planning with the aim for a "new start" and large-scale production of 200 hp OXE by the end of the second quarter of 2018, says Cecilia Anderberg, CEO Cimco Marine AB.
There is a very small difference between the 150 hp OXE and 200 hp OXE in top speed, however, a 150 hp engine allows longer usage intervals and is very suitable for governmental application for marine patrolling purposes, fishing fleets, passenger transports and others. The company has orders covering the production forecast until Q2.
The root cause for the turbo leakage in the 200 hp OXE has been identified. During certain specific application of the OXE 200 hp, the engine temperatures exceeds the maximum allowable temperatures for the turbo material. To resolve this, an increase in material specification in terms of temperature resistance is required - meaning change of material and with that, new tooling is required. Material specification, design and supply chain setup are all finalised. Tooling has a long lead time and will be completed around the beginning of Q2 with the aim to recommence production of 200 hp OXE by the end of Q2 2018.
– Overall, we have not changed the targets for 2018 as we are expecting the 150 hp to be well received by the market. The long-term target remains the same as previously communicated, says Cecilia Anderberg.
For further information, please contact:
Cecilia Anderberg, CEO Cimco Marine AB, tel. +46 763-10 22 50, firstname.lastname@example.org
Andreas Blomdahl, Chairman of the Board of Cimco Marine AB, tel. +46 706-28 01 30, email@example.com
Lars Sjögrell, Head of Public Relations, Cimco Marine AB, tel. +46 702-69 53 00, firstname.lastname@example.org
Västra Hamnen Corporate Finance AB is Certified Adviser for Cimco Marine AB.
Cimco Marine AB (publ), is obligated to make this information public pursuant to the EU Market Abuse Regulation. The information was provided by the contacts above, to be submitted for publication on January 8th, 2018 at 07.30 AM.
Cimco Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high power segment. OXE Diesel has a unique belt driven propulsion system that allows a hydraulic multi-friction gearbox to be mounted. This means that the engine can handle significantly higher loads than a traditional outboard engine. Cimco's OXE Diesel has a horizontally mounted engine as opposed to a traditional outboard with a vertically mounted engine.