Parsun to sell OXE Diesel Outboards in China
OXE Marine AB has resolved to initiate a cooperation with Parsun, the largest Chinese outboard engine manufacturer.
Nordic Match was the advisor to OXE in this transaction, where the cooperation covers the Chinese market where Parsun has entered into a distribution agreement with OXE Marine AB as the first step towards a partnership between the two companies. The purpose of this cooperation is for Parsun to distribute the OXE diesel product range to its customers and dealers and to support them in after sales service and parts provision.
With Parsun being a well-established and important player in the Chinese marine market and OXE Marine having developed the most innovative and advanced high-power diesel outboard motor, the cooperation forms a perfect symbiosis to explore the diesel outboard market across China at a much faster pace. A closer cooperation is contemplated whereby the parties will consider local assembly of the OXE units at Parsun’s production facility, including sourcing of parts, specifically for the Chinese market.
“We believe that China has a vast demand for innovative, high powered, high quality diesel outboards. OXE is an exciting company with important products that are likely to attract the interest of Chinese ship builders as well as commercial and governmental users”, says Peter Bian, CEO Suzhou Parsun Power Machine.
“I am really pleased that Parsun, the largest Chinese outboard manufacturer, has chosen to work with OXE Marine in promoting and distributing our products in Mainland China. I was impressed with their due diligence and their focus on quality and customer care. Both parties are keen to continue the collaboration and in due time deepen the relationship in the Chinese market. This is an important step for OXE as we see China as a core market going forward”, says Myron Mahendra, CEO OXE Marine.
“We are delighted to have successfully signed the agreement with Parsun, for the launch of OXE’s diesel product range in China. This cooperation significantly speeds the market access for OXE in China, while leveraging on the strategic complementary of OXE and Parsun”, said Markus Dahlström, Partner Nordic Match.
About Nordic Match
Nordic Match is a boutique M&A and Strategy Advisor headquartered in Shanghai, China. Dedicated to Sino-Nordic transactions, we have a clear vision – to support aspiring corporates and investors in search for value-creating opportunities between Nordics and China.
More about Nordic Match: www.nordic-match.com