OXE Marine AB (publ) joins forces with US distributor Diesel Outboards and Outdoor Network Manufacturing to significantly strengthen the focus on commercial and distribution development
OXE Marine AB (publ) (NASDAQ STO: OXE) (OTCQX: CMMCF) (“OXE” or the “Company”) has entered into an agreement to acquire 100% of Diesel Outboards and Outdoor Network Manufacturing’s US distribution and manufacturing business (the “Transaction”). Through the Transaction, OXE significantly strengthens its position in the US market, creating a direct to market model, gaining access to end-user, dealer, governmental and OEM network, following the successful ramp-up of production of OXE300 earlier this year. The purchase price of USD 10.8 million, is to be financed through a share issue in kind