Prosthetic pioneer buys 80 per cent of Baltic

One of the world’s most important technical orthopaedics companies, and the supplier of prosthetic limbs to the 2012 Paralympics, has bought an 80 per cent stake in Finnish yacht builder Baltic Yachts.
 
Ottobock, a global MedTech company, is owned by a repeat client of Baltic’s who is building his sixth yacht there this October. The deal was struck out of mutual respect for each company’s work explained Matti Laurila, Baltic Yachts' COO, and an interest in creating synergies between the two organisations' expertise:
 
“Baltic will benefit from Ottobock‘s industrial way of thinking and expertise. We will add the carbon fibre technology and know how to the mixture,” said Laurila, who added that the exact dynamics of co-operation have not been worked out yet.
 
“There will be synergies, but these need to be outlined further as we go on, and we are going to focus on the yachting side first, before we take next step.”



The impetus for the agreement on Baltic’s side was a need to establish a diversified portfolio, to include industrial applications in future in order to guarantee financial growth. Whilst the yacht market is vulnerable to the changing fortunes of economies, explained Laurila, the use of carbon composites in industrial markets is more secure and is on the rise.
 
“The main product for Baltic will remain carbon fibre yachts, but in a few years to come we want to develop more legs to stand on when the going gets tough,” said Laurila.
 
Laurila conceded the pairing was an unusual one, but that the underlying drive for innovation and advanced technology united both companies.
 
“The products of Ottobock are highly advanced, using carbon fibre technology (for prosthetic limbs), if you look at Baltic yachts, obviously we build yachts rather than prosthetics but the key words for us have always been 'technology' and 'innovation'.”



Despite the strong presence of the owner in Baltic's business, Laurila said: “We want to make it very clear he is a customer on one hand, and on the other, he is an enthusiastic innovative entrepreneur who will go into the company. There will be a clear line between the two roles.”

Baltic Yachts will be led by new CEO Captain Henry Hawkins, and Laurila together with an experienced management team. Ottobock president and CEO Prof. Hans Georg Näder said:

“We will execute our vision for this great company – customer satisfaction and superb quality of Baltic Yachts – sailing yachts and related services are key to success."



Finland is a hub for carbon fibre technology businesses. As well as sail yacht manufacturers, such as Baltic and Nautor's Swan, which employ advanced carbon composite construction for lightweight builds and optimum performance, there are advanced technology companies in transportation and industry.

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