In the automotive industry it has been quite common to hear of Chinese investors buying traditional Western brands, the Marine industry seems to be under their radar as well.
Not always the acquisitions of European companies were crowned with entrepreneurial success. That it may be different shows the example of the Upper Austrian manufacturer STEYR MOTORS. The reduction of employees or production facilities were out of question, instead an increase in development projects, growing sales in new markets, reducing production costs through sourcing in Asian markets are the already showing effects of the new ownership in Steyr.
The company produces high-power, robust diesel engines for primarily commercial users and government agencies. Amongst others the engines are used in racing boats, in large sailing yachts of the luxury brands Swan or Amel, in lifeboats on cruise ships or tender boats of the U.S. Navy. For 2013 year an increase of 30% is expected for the Marine business. In the area of 100 to 300 hp diesel engines, the company holds in Steyr a world market share of 14%. The development of a whole family of products base engines is currently in Steyr. (Read more in the article below)
(this is a translated excerpt of the article by Verena Diethelm, Yachtrevue)
Link to complete article: http://www.yachtrevue.at/im-aktuellen-heft/steyr-motors-23667.html