Michigan Wheel Marine and Nakashima Propeller Co Ltd Announce New Strategic Partnership
Michigan Wheel Marine and Nakashima Propeller Co Ltd have announced a new strategic partnership that is designed to combine their respective business strengths and promote co-operation in developing and expanding their global marine propulsion businesses.
Negotiations have been ongoing for several months during which time business operations of both organizations have continued to expand, and it is on the foundation of this strength that the deal was signed. As part of the agreement Nakashima has acquired a 30% stock holding in Michigan Wheel Marine.
Michigan’s President and CEO Stan Heide said;
“This alliance is a logical extension of many years of both companies working collaboratively and successfully together to bring products to market for our customers. It will utilize the other company's strengths and make both firms stronger. We will now be able to offer expanded world-wide distribution for the Michigan and Nakashima global customer networks.”
It is the latest of several strategic moves that Michigan have made in recent years. This includes the opening of a European facility in the UK; a Middle East operation headquartered in Dubai, the acquisition of UK based bearing manufacturer Shearwater Marine Ltd, and the licensing of associated propulsion products for distribution through their global dealer networks.
Michigan’s International Business Director Terry Hughes said;
“This is an exciting development that will bring very attractive benefits to our customers in the Middle East, Europe and the Americas. By partnering with another of the world’s leading propulsion specialists we are able to offer an enhanced service that includes the growth of our design and engineering support. It also allows us to bring even more products to the global market as we strive to position ourselves as a one-stop-shop for the propulsion needs of our customers.”
Nakashima Propeller has successfully provided various products to a range of customers’ interests throughout the world. Nakashima’s higher efficiency, higher performance propeller design makes many applications possible, from fixed pitch propellers for large commercial vessels, to propellers for pleasure boats. For Nakashima, this strategic partnership represents another opportunity to bring their engineering, manufacturing and product development expertise to a greater global market via Michigan’s customers and distribution networks.
As the relationship develops the companies will participate in mutual advertising, marketing, product development, and other business functions.
Nakashima Propeller President Motoyoshi Nakashima said of the agreement;
“Here at Nakashima we are honoured and excited to expand our partnership with Michigan though our acquisition of a 30% stock holding. Michigan and Nakashima alike understand that we provide value to our customers through engineering services and high quality products that stem from a long history of advanced manufacturing technology. I believe that this strategic partnership will lead to further growth opportunities for both companies and enable us to extend the global reach of our comprehensive products.”
Michigan Wheel Marine is headquartered in Grand Rapids, Michigan and offers a complete range of propellers and propulsion equipment for the professional, commercial, military, and recreational marine markets, including inboard fixed pitch propellers up to 96”(2.4 meters) in diameter. Also offered are propulsion packages including shafts, sterntubes, bearings, nozzles, and rudders as well as a full series of aluminium and stainless steel replacement propellers for outboard and sterndrive applications.
Nakashima Propeller Co Ltd is headquartered in Okayama, Japan and is the leading global propulsion systems company. Nakashima offers various types of these systems, including fixed pitch propellers, controllable pitch propellers, side thrusters, and shafting arrangements. Noted for its fixed pitch propellers, Nakashima is the only company in the world that offers such a full range of propellers, from as small as 18cm for racing boats to as large as 12 meters in diameter for large commercial vessels.