Estonian boatmaker Ceranos Invest is investing more than EUR 1 million at its Raasiku operation, according to a report by Invest in Estonia, which cites the trade outlet Tööstusuudised. The money is going toward a mix of three things: building up production, developing new products under the Seastorm brand, and refinancing obligations the company already has. Ceranos Invest sells small motorboats internationally under that brand.
According to the report, financing arranged through Capitalia helped the company put up a new production unit and expand its production line, letting Ceranos Invest begin making motorboats alongside the marine kayaks it originally produced. Taken together, Invest in Estonia says the spending is meant to give the Raasiku site a stronger base for the next stage of Seastorm's growth.
Marili Mugamäe of the company linked the choice to staying in charge of how the work is done: For us, it is important that both production and product development take place in Estonia
, she said, according to Invest in Estonia, pointing to the degree of oversight that gives the firm over its own processes.
The Seastorm boats are made from polyethylene with UV stabilisers, produced by rotational moulding so that each hull is formed as a single piece, which the company says gives it resistance to shocks, impacts and temperature changes while keeping maintenance low. The range currently has four models, covering both inshore freshwater and coastal saltwater use, aimed at leisure and professional customers.
Invest in Estonia describes the investment as part of a wider shift at Ceranos Invest, from a marine-kayak producer to a broader manufacturer of small recreational and professional boats, as the company builds on its technical expertise while pursuing further sales in international markets.
Source: Invest in Estonia, . The text above is our own summary; the words in quotation marks are the source's.
What this means for an Estonian entrepreneur
An Estonian manufacturer that is expanding production, refinancing existing obligations and signing new contracts with customers abroad should also update its international sales and distribution contracts at the same time, so that supply, payment and liability terms match the company's new scale before the next export order is signed.
We draft and review the international sales and distribution contracts of an Estonian manufacturer selling abroad. International commercial contract drafting for an Estonian company