Shearwater Marine Ltd News

Michigan Wheel Marine and Nakashima Propeller Co. Ltd. have announced a new strategic partnership that is designed to combine their respective business strengths and promote cooperation in developing and expanding their global marine propulsion businesses. Negotiations have been ongoing for several months during which time business operations of both organizations have continued to expand, and it is on the foundation of this strength that the deal was signed. As part of the agreement Nakashima has acquired a 30% stock holding in Michigan Wheel Marine. It is the latest of several strategic moves that Michigan have made in recent years.