Steyr Motors Expands US Market Presence with New Framework Agreement

Steyr Motors AG, a leading provider of customized engines for defense and civil sectors, has signed a new framework agreement with Laborde Products Inc., expanding its presence in the U.S. market. This agreement marks a significant step for the Austrian-based company, projecting a total order volume of around USD 15 million over a four-year period.

The partnership with Laborde Products, a notable supplier of marine and industrial drive solutions, extends Steyr's sales across all U.S. continental states as well as territories like Puerto Rico and the U.S. Virgin Islands. This agreement enhances Steyr's North American distribution network with a focus on both civilian applications and projects in the U.S. Navy sector.

CEO Julian Cassutti emphasized the strategic importance of the U.S. market, highlighting the agreement's role in strengthening service networks and maintaining existing military contracts. The agreement, effective until 2028, aims to boost annual revenues with a planned increase in future years.