Yanmar Group acquires VETUS

Yanmar Group manufactures diesel engines for please craft and commerical marine vessels Yanmar Group manufactures diesel engines for please craft and commerical marine vessels

Global marine engine and equipment manufacturer, Yanmar Group, has acquired Netherlands based marine equipment producer, VETUS.

VETUS, which manufactures boat equipment systems in-house for pleasure craft and small commercial vessels, is owned entirely by Yanmar. The company will retain its brand name and current business line, including engines.

Yanmar says it hopes the acquisition will strengthen its footprint in the marine industry. Brands of the VETUS Group, Maxwell and Marex, will also help Yanmar strengthen its presence in the sail and powerboat markets, as well as the superyacht industry.

Geert Jan Mantel, CEO of Yanmar Europe, said: “We expect this merger to be profitable for both brands. Together, we will be able to further strengthen our presence in the leisure craft market and fill in each other’s ‘gaps’. In today’s stagnating economy, we both see partnership as one of the best strategic ways to grow.”

Marcel Borsboom, CEO of VETUS, added: “VETUS is proud to become a member of the Yanmar group of companies. Together, we will create a powerhouse in the industry, from which all our customers and the marine sector in general will benefit. Being two strong, profitable companies, we enter the future with great confidence.”

Latest Press Releases

Albwardy Damen receives MASTECH award for the new Damen Multibuster 8020

Albwardy Damen has received an award for its innovative design of the new Damen Multibuster 8020 sha... Read more

Biggest European shipbuilders collaborate on vessel connectivity

The biggest European shipbuilders have announced a new cooperative initiative to develop and demonst... Read more

Damen Shipyards Groups reports net loss for 2018

Damen Shipyards Group has posted a net loss of 17 million euro for 2018. This is the first time in 1... Read more

Damen launches two road ferries for Canadian operator BC Ferries

In the space of just a few weeks, two, 81-metre road ferries for the Canadian ferry operator BC Ferr... Read more

Damen Marine Components completes supply of unique rudder and steering gear system to ice breaker

In an important milestone in the build of the Antarctic Supply Research Vessel (ASRV) Nuyina for the... Read more

Successful full performance test CEMEX dredge pump e-motor

Largest submersed permanent magnet e-motor passed test with flying colours Read more

View all