VOLVO PENTA BUYS INTO SEVEN MARINE

Volvo Penta will become the major owner of innovative premium outboard motor manufacturer, Seven Marine. The deal will broaden Volvo Penta’s technology platform while Seven Marine will be able to further develop its innovative outboard technology to satisfy a wider range of needs. This strategic collaboration will strengthen their combined footprint in the marine market. Seven Marine, based in Milwaukee, Wisconsin, USA, produces the most powerful outboard models in the world, running at 557 and 627hp. Volvo Penta manufactures engines and complete power systems for pleasure boats, commercial vessels and industrial applications. Volvo Penta is part of the Volvo Group, a leading manufacturer of heavy trucks, buses and construction equipment. The use of automotive technology is common to Volvo Penta’s petrol sterndrive range and Seven Marine’s outboard motors. The two companies will collaborate to develop Seven Marine’s outboard offerings.

Ron Huibers, Volvo Penta’s president of the Americas region, will be the chairman of Seven Marine and Rick Davis will remain as Seven Marine’s president and CEO.