MJP Waterjets wins record order worth Euro 12 million for the Indian coast guard

MJP Waterjets, the fastest growing global supplier of waterjets, wins one of the largest contracts ever in the market for waterjets, worth Euro 12 million. MJP Waterjets will supply waterjets for 36 high-speed interceptor boats for the Indian coast guard. The high-speed interceptor boats will be designed and constructed by the Indian engineering and construction firm Larsen & Toubro, which is MJP Waterjets’s contractual party. Deliveries of waterjets will take place during 2010-2013. The order is an important reference for MJP Waterjets’s continued sales in India, which is expected to become the world’s largest market for waterjets during forthcoming years.
– The record order for the Indian coast guard is the company’s first order in India and now a total of 22 countries have selected MJP Waterjets for their governmental applications. The order, worth Euro  12 million, is an important milestone for MJP Waterjets and our ambition to become the number 1 player in the global market for waterjets, says MJP Waterjets’s CEO, Hans Andersson.
– The order was won in tough international competition, where technical performance and life cycle cost determined the choice of MJP Waterjets as supplier. These features have created MJP Waterjets’s strong market position in coast guard and navy vessels, says MJP Waterjets’s CEO, Hans Andersson.
MJP Waterjets’s sales in 2009 amounted to Euro 17,6 million with an operating margin of 10 % and an operating result of Euro 1,7 million. MJP Waterjets has achieved a compound annual revenue growth rate (CAGR) of 23 % over the past three years. MJP Waterjets has currently an order back-log worth Euro 33 million. The order to the Indian coast guard will also generate after-sales revenues in coming years.
MJP Waterjets is the fastest growing global supplier of waterjets. MJP Waterjets develops, markets and delivers tailor-made, high performance and heavy-duty waterjet propulsion systems. MJP Waterjets offers technology-leading waterjets that generate more thrust from installed power, leading to higher ship speed, lower fuel consumption as well as lower life cycle cost. MJP Waterjets delivers waterjets for governmental applications such as coast guard vessels, patrol boats, landing crafts and customs boats, as well as applications for work boats, luxury yachts and fast ferries. In total, governments in 22 countries have chosen MJP Waterjets for their governmental applications. MJP Waterjets was founded in 1986 and has today over 700 waterjets in service around the world.
MJP Waterjets, in Österbybruk, is part of the Swedish industrial group Österby Marine, including Österby Gjuteri and Alcopropeller. Österby Marine is owned by Capilon, a private equity company listed on NASDAQ OMX First North.