OXE Marine AB (publ) agrees on EUR 2,8 million order for 2021 and resolves not to pursue 50 percent revenue growth target for 2020
OXE Marine AB (publ) (the “Company”) has today signed a letter of intent with current Central and South West US distributor Diesel Outboards LLC (part of the Outdoor Network group) (“ODN”) to expand ODN’s distribution territory to also cover South East US. On signing the definitive distribution agreement, ODN will place an order for OXE units to be delivered during 2021 for a value of approx. EUR 2,8 million. Due to COVID-19 related supply chain disruptions affecting start of production of the OXE300 and the previous decision to stop production at UFAB, the Company has today resolved not to pursue its 50 percent revenue growth target for 2020.