Finnish boat manufacturers Oy Finn-Marin Ltd and Seliö Boats Oy are to merge on July 1, 2018. The new company will be called Finnmaster Boats Oy.
Kokkola-based Finn-Marin has been part of the Terra Patris Group since 2015 and Seliö Boats of Sammatti since 2004.
Finn-Marin is one of Scandinavia’s leading boat manufacturers with three brands – Finnmaster family leisure boats, Finnmaster Husky aluminium boats, and the premium Grandezza boat brand. Production takes place in Kokkola and Kalajoki, where it employs 130 people, with around 80% of its ouput exported to Scandinavia and Europe.
Finn-Marin was founded in 1990 and has seen significant growth over the past three years with turnover expanding from €20m to €33m.
Founded in 1997, Seliö Boats is a contract manufacturer of GRP boats. For years the company has produced Yamarin boats for Kesko and in recent years for Inhan Tehtaat and Finn-Marin.
“Finn-Marin is growing considerably and we believe that all our brands will maintain the top pace in Scandinavia,” says Finn-Marin CEO Raimo Kielinen. “In the future we are increasingly seeking growth from central and southern Europe. Seliö Boats has been manufacturing Finnmaster boats since 2015, and this is a natural continuum that will further facilitate production collaboration.
Henna Forsström, marketing manager at Finn-Marin, adds: “We considered a lot of different names for the new company and ended up choosing Finnmaster Boats as we wanted to give our oldest and best-known brand the attention it deserves. Each Finnmaster boat is built with uncompromising craftmanship and years of experience. We have a clear vision to build boats where modern design meets sensible functionality. These are the values that we want our company name to represent.”
The merger will have little or no effect on the two companies. The staff at Seliö Boats will now be employed by Finnmaster Boats and operations at the company’s plants in Kokkola, Kalajoki or Sammatti will not be affected.
Terra Patris is a Finnish conglomerate that operates in the forestry, construction equipment, contract manufacturing and leisure marine industries. The group employs around 600 people in Finland and is forecasting turnover of around €90m in 2017/18.