MJP Waterjets $12M Contract for Indian Coast Guard
MJP Waterjets won one of the largest contracts ever in the market for waterjets, worth $15.3m. MJP Waterjets will supply waterjets for 36 high-speed interceptor boats for the Indian coast guard. The high-speed interceptor boats will be designed and constructed by the Indian engineering and construction firm Larsen & Toubro, which is MJP Waterjets’s contractual party. Deliveries of waterjets will take place during 2010-2013.
The record order for the Indian coast guard is the company’s first order in India and now a total of 22 countries have selected MJP Waterjets for their governmental applications. The order was won in tough international competition, where technical performance and life cycle cost determined the choice of MJP Waterjets as supplier. These features have created MJP Waterjets’s strong market position in coast guard and navy vessels, says MJP Waterjets’s CEO, Hans Andersson.
MJP Waterjets’s sales in 2009 amounted to Euro 17,6 million with an operating margin of 10 % and an operating result of Euro 1,7 million. MJP Waterjets has achieved a compound annual revenue growth rate (CAGR) of 23 % over the past three years. MJP Waterjets has currently an order back-log worth Euro 33 million. The order to the Indian coast guard will also generate after-sales revenues in coming years.