Global marine engine manufacturer Yanmar has announced that VETUS, a "well-known player in the international market for its in-house engineered boat equipment systems" has joined the Yanmar Group.
"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," said Geert Jan Mantel, CEO of Yanmar Europe.
Marcel Borsboom, CEO of VETUS, adds: "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."
VETUS develops and sells products for small commercial vessels and pleasure craft, including the Maxwell brand of anchoring systems and Marex custom-made windows.
"There is a lot of synergy between Yanmar and VETUS already," Yanmar said in a statement.
"Coming from the same industry, both companies share the same philosophy of really listening to their customers. They both have developed an extensive sales and service network over many years of operation, and both companies are present in many countries worldwide."