Estonia, Investments, Real Estate, Transport, USA

The size of the property located next to a navigable channel is 5 hectares, of which 3,000 square meters is made up of sheltered production area.

The activity on the property will be operated by Baltic Workboats US, which is part of the Baltic Workboats group. The main activity of the company will be the sale and maintenance of workboats and later also assembly and finishing jobs.

"Considering the volume of the American market, then there should be a market for the vessels that are designed and produced by us," Baltic Workboats CEO Margus Vanaselja told BNS.

"In the longer perspective we are also planning to enter the Canadian and Latin American markets," Vanaselja said. "The many years of our marketing activity and product development have borne fruit and we have gained extensive attention on the markets with our unique product."

The company this year signed a contract for the construction and supply of a Pilot 1500WP pilot ship to the Port Everglades pilot center in Florida.

"This is the company's first sale to the U.S. market, which bears great significance from the viewpoint of the long-term strategic plans of Baltic Workboats. The American market has started in addition to the quality of the products to also pay closer attention to fuel consumption and the low vibration and noise rate, for which the vessels of Baltic Workboats are valued and which will definitely be our competition advantage. The pilot boat, which will be finished this year, will also be the reference boat of the Baltic Workboats in American waters," Vanaselja said.

Baltic Workboats signed a contract similar to the concept of the U.S. pilot boat order to build 15 pilot boats to Danish pilots. According to the contract, 15-meter boats with wave-cutting bodies will be supplied to the organization within 2 years. The total value of the contracts is 17 million euros. In addition, the company in summer also supplied a 100-meter ferry to Sweden, which cost slightly over 10 million euros without value added tax. Recently, the company signed another contract with the Swedes for a second 100-meter vessel.

Baltic Workboats is a company based on Estonian capital, which produces aluminum and steel workboats. The company's product portfolio includes pilot and patrol boats, ferries, tug boats, catamarans and other workboats. The company employs approximately 200 people. The revenue of Baltic Workboats in 2016 totaled 27 million euros, which is 11.5 percent more than the year before. The company's net profit fell 1.9 percent to 2.8 million euros.