Nimbus Group will shut two factories, in Kuopio and Luoto, Finland, due to decreased demand for models produced there.
“Nimbus Group has been refining its focus on premium boats for the past number of years, and we are making this change to strengthen our efforts in this area,” CEO Jan-Erik Lindström said in a statement.
The restructuring is expected to yield a gradual improvement in profit starting in the fourth quarter of 2024 and reach full effect in late 2025.
Nimbus Group brands include Alukin, Aquador, Bella, EdgeWater, Falcon, Flipper, Nimbus and Paragon.
