Update on production status and re-launch of 200hp engine
Following the interim report published on 31st May, Cimco produced 42 units for the month of June (week 22 to week 26 inclusive). The 200hp unit will be introduced back into production at the end of September 2018 with a controlled ramp up.
Cimco produced 42 engines for the month of June. This was lower than our target due to re-work of several units because of quality deviations in a delivery from one supplier. In total, we have produced 140 units for 2018. We are aiming to meet our stated target of 25 units a week in Q3 and beyond. Production facility in UFAB will be closed for July. We will provide a further update on our production status in our next interim report that will be published on 31st August 2018.
With respect to our 200hp unit, we expect to re-introduce this into production by the end of September 2018. The ramp up will be controlled and with a step by-step approach (similar to that of the 150hp at the beginning of January of this year) and initially delivered to a select group of customers.
– I have been at the helm of Cimco for only a few weeks now and am pleased that Cimco is moving in the right direction with respect to re-introducing the 200hp as well as preparing to meet our stated production target of 25 units a week later this year. Going forward, Cimco will be more active on communications with both the marine field and its Investor base which I feel are essential to the company. I am excited and very confident for our future as we progress in meeting our customer needs and producing a quality product, says Andreas Blomdahl, CEO Cimco Marine.
For further information, please contact:
Anders Berg, Chairman, anders.berg@oxe-diesel.com, +46 70 358 91 55
Andreas Blomdahl, CEO, andreas.blomdahl@oxe-diesel.com, +46 431 44 98 99
Myron Mahendra, CFO and EvP in charge of Administration and HR, myron.mahendra@oxe-diesel.com, +46 76 347 59 82
Certified Adviser
Västra Hamnen Corporate Finance AB is Cimco’s Certified Adviser.
Cimco Marine AB (publ) is obligated to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on July 6, 2018 at 7:30 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.
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