Mar 10, 2020

SmartgyroYANMAR, a leading provider of marine engines and propulsion systems, and Smartgyro S.r.l., a gyro stabilization technology company, announced on February 27, 2020, that they have entered into a strategic partnership. The partnership includes close collaboration between the two companies and an equity investment by YANMAR enabling Smartgyro to accelerate its design, development and launch of a full line-up of highly advanced gyro stabilizers for recreational and commercial marine applications.

“We are pleased to partner with Smartgyro, a company with deep understanding of boat stabilization, great engineering expertise and compelling gyroscopic stabilization products under development that together are uniquely complementary to our marine systems, equipment and knowhow,” said Shiori Nagata, President YANMAR Marine International B.V. and leading YANMAR’s Recreational Marine Business Unit. “The partnership provides YANMAR an entry to the growing gyro stabilizer market and perfectly matches YANMAR’s vision to enhance boater enjoyment, comfort and safety with technologically-advanced marine systems.”

Based on its innovative gyro stabilization technology, Smartgyro is designing and developing a full range of gyro stabilizers, which will come to market soon.

“We are thrilled to welcome aboard YANMAR as business partner,” stated Smartgyro founder Carlo Gazerro. “YANMAR is a large global company with a leading position, network and decades-long experience in global recreational marine. We are very proud that such a company recognized the uniqueness of Smartgyro’s gyro stabilization technology and is investing in accelerating our growth. In partnering with YANMAR, we will have a stable and strong backing to design, develop and - once ready - provide a line-up of state-of-the-art gyros, for new boats and refit installations, virtually eliminating boat roll to improve the well-being of those on board.”

The partnership includes an equity investment through which YANMAR acquired majority ownership of Smartgyro. Smartgyro will operate as stand-alone entity within YANMAR’s Recreational Marine Business Unit and remains located in La Spezia (SP), Italy.

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UPDATE ON LUXURY TAX OPPOSITION

 

Luxury Tax OppositionFollowing its seventh annual “Day on the Hill” lobby day in Ottawa last month, NMMA Canada is continuing to advocate against the federal government’s proposed 10% luxury tax on recreational boats over $100,000. History has shown that similar taxes have failed to raise the expected revenue for governments while putting thousands of rural and small-town jobs at risk. The industry believes there are other financial measures that can be applied instead of a tax that would be beneficial to government and less impactful on industry.

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