Finnøy Gear & Propeller is a family-owned company that for more than 135 years has developed from being a local production workshop to todays company that operates worldwide. The company is a leading developer and manufacturer of turnkey propulsion systems for modern shipping. The product portfolio consists of gears, propellers, nozzles, and remote controls that are characterized by high quality along the entire value chain.
The main segments for Finnøy Gear & Propeller is the local and global aquaculture and fishing industry. “A strong base to rely on”, argues Sales Manager Arne Nogva. He continues “The world needs food, even in these times. And, we experience that there is optimism in both the aquaculture and the fishing industry.”
Finnøy Gear & Propeller delivered its first propeller system in combination with an engine in 1902. Since then, the fishing industry has been their main driving force for more than 100 years. When the aquaculture industry picked up in the 70s, Finnøy was on to it straight away. Subsequently, the company has also had several deliveries to live fish carriers, process vessels and fish farming service vessels. “We have built up a strong brand over several decades, and customers often returns back to us. In addition, we obtain new customers who notice reference vessels that we have delivered equipment to”, Arne Nogva adds.

Competitive prices

Arne Nogva understands that Finnøy Gear & Propeller are strongly competitive on price, even though they produce in a so-called high-cost country. “Norwegian products are known as good-quality products; hence shipowners are willing to pay the extra cost to get hold of such a product. Made in Norway is still a trademark of quality worldwide,” he says.
When it comes to new sales and repeat sales in 2020, the export share is as much as 70%, and in 2019 the company delivered an average of one propulsion plant a week. Propulsion solutions consist of a combination of gearboxes and propellers, in addition to remote controls. “At the present times- 2-speed solutions are sold to a greater extent, where the vessel can go at a lower propeller speed if you do not need a large effect on the propeller, in order to save diesel. This is often a solution together with PTI/ PTO,” Nogva explains.

Increased revenues during COVID-19

When the Norwegian government pressed the "big red button" in March, Nogva thought it would be tough times ahead. Instead, Finnøy Gear & Propeller has had to increase the number of full-time employees. During the summer, project engineers have been hired, and new apprentices will enter the company by this autumn.
When the pandemic hit the country, he thought the company would have to eat away at the orders they already had in. But the last few months have been very positive sales-wise, states the Sales Manager. COVID-19 have also led to less travel for Finnøy, and more use of digital solutions such as Teams and Skype. It has worked well so far, but Nogva is aware that if this lasts for several years, it can move the other way. “We will not shift away from the value of meeting face to face. It is also an important part of the sales job. Our local customers will continue to do sales with us, but it may be more difficult to sell to the rest of the world,” he predicts.