Steyr Motors drives growth in the U.S. – signing of another framework agreement
- Strengthening of market position in the USA
- Framework agreement with an established supplier of maritime and industrial drive solutions
- Expected order volume of around USD 15 million over four years
Steyr, Austria, 23 June 2025 – Steyr Motors AG (ISIN AT0000A3FW25), one of the world’s leading companies in the field of customized engines for mission-critical defense and civil applications, is significantly expanding its market presence in the United States. Through a new framework agreement with its U.S. distribution partner, Laborde Products Inc., based in Covington, Louisiana, Steyr Motors is strengthening its presence in one of the world’s most important markets.
Laborde Products, Inc. is a well-established supplier of marine and industrial drive solutions. The new framework agreement with the U.S. partner covers sales in all continental U.S. states, as well as the U.S. territories of Puerto Rico, the U.S. Virgin Islands, and the Bahamas. This agreement provides Steyr Motors with an almost comprehensive sales structure in North America. The agreement includes both civilian applications and new projects in the U.S. Navy sector. Existing military contracts, such as the one with boat builder Ribcraft for the Navy Seals, will remain unaffected.
Steyr Motors expects this agreement, initially scheduled to run until 2028, to generate around USD 2 million in revenue in the current year. A gradual increase in volume is expected in subsequent years. The total value of the new framework agreement is approximately USD 15 million over the four-year contract period.
“The U.S. is one of our core strategic markets outside of Europe. Through our partnership with Laborde Products, we are strengthening our market position in the U.S., one of the world’s largest markets in terms of volume in both the civil and military sectors. We are also expanding our service network, an important step in providing our customers with the best possible support,” comments Julian Cassutti, CEO of Steyr Motors.
Company profile of Steyr Motors AG
Headquartered in Steyr, Austria, Steyr Motors AG is a global leader in the development and production of high-performance customized special engines with high power density and durability. The Company’s engines are primarily used for military special vehicles, boats (both military and civilian) and as auxiliary power units (“APU”) for main battle tanks and locomotives. In the full year 2024, Steyr Motors generated an (adjusted) EBIT margin of 24%. For 2025, Steyr Motors is aiming for a year-on-year increase in revenue of at least 40%, an EBIT margin of above 20%, and a production volume of at least 1,250 units.
For further information please contact:
Steyr Motors AG
Investor Relations
Phone: +436766222367
E-mail:ir@steyr-motors.com
www.steyr-motors.com
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