Oxymat has announced it has terminated the previously announced distributor agreement with Pres-Vac Engineering.

But this action hasn’t hampered business for Oxymat as the company has announced it signed contracts in 2014 worth more than €23m – 25% higher than expected.

This year, more than 50% of the order intake has come from the marine industry – where Oxymat has become known as a high-end quality supplier with competitive prices.

Oxymat expects a significant increase in revenue and EBITDA for 2015 and estimations for next year are €22-24m and an EBITDA ratio around 14-15 %.

In a company statement, Oxymat CEO Jesper Sjögren stated, “We continuously focus on efficiency and we are constantly searching for ways to optimise our processes. Standardisation of our product lines is our next step and therefore, in 2015, we expect to invest €1.5m in new production and office facilities, including robot technology in the assembly lines.”

“We expect to manufacture units of value €20-22m in the coming years, and optimisation of our product portfolio and production lines is addressed as the company is gearing up to handle project deliveries on a weekly basis.”

“In addition, the company’s sales channels are in focus. In planning is a rearrangement in South East Asia and a reinforcement of our presence in Latin America. We now have the financial strength to enlarge production capacity as well as market presence.”

“Marketing costs are planned to increase significantly, as we will be more active in the marine segment. The previously announced distributor contract with Pres-Vac Engineering has been cancelled, and therefore, we will build up a stronger marine sales force in the year to come.”

“We have a very attractive starting point re-entering direct sales in the marine industry. Our production facilities are presently bursting with activity and will continue to do so, at least until spring 2016. Therefore, we can be more selective in signing contracts with preferred customers, ensuring better prices than in the past. We have developed a unique design that is well received among top customers in the market; especially our larger systems are very competitive. This is why we are the chosen supplier to the world’s largest build gas carriers.”