Wärtsilä increases its ownership of Italian c...
Wärtsilä Corporation, Press release, 13 May 2009, at 11:30 am EET
Wärtsilä has acquired the remaining 60 per cent of the shares of
Wärtsilä Navim Diesel of Italy, thus increasing its ownership of the
company to 100 per cent. Wärtsilä Navim Diesel, which specialises in
marine sales and service, has a strong market position, particularly
in the Cruise & Ferry segment. The company enjoys an excellent
reputation among its customers for its broad expertise and
outstanding service. Wärtsilä Navim Diesel has all its operations in
Genoa.
The transaction helps to clarify operational activities within the
Italian market, and brings Wärtsilä even closer to its customers,
with the activities of both companies now fully aligned. Wärtsilä
Navim Diesel's high degree of competence and know-how is a valuable
complement to Wärtsilä's service offering in Italy.
"This acquisition will further strengthen Wärtsilä's market position,
not only in Italy, but also as one of the world's leading total
marine service providers," says Mr Carl-Henrik Björk, Vice President,
Cruise & Ferry, Wärtsilä Ship Power.
Wärtsilä Navim Diesel's net sales amounted to EUR 46 million in 2008,
and profitability was on a good level. The company employs 88 people.
Its businesses will be integrated into Wärtsilä Services business in
Italy and all personnel will continue as Wärtsilä employees. The
value of the deal is not published.
For further information, please contact:
Mr Carl-Henrik Björk
Vice President, Cruise & Ferry
Wärtsilä Ship Power
Tel. +39-335-7274764
Mr Andrea Caorsi
Managing Director
Wärtsilä Navim Diesel srl
Tel. +39-335-7719144
Ms Tuula Franck
Press Manager
Wärtsilä Corporation
Tel: +358-400-267555
Wärtsilä in brief
Wärtsilä is a global leader in complete lifecycle power solutions for
the marine and energy markets. By emphasising technological
innovation and total efficiency, Wärtsilä maximises the environmental
and economic performance of the vessels and power plants of its
customers.
In 2008, Wärtsilä's net sales totalled EUR 4.6 billion with 19,000
employees. The company has operations in 160 locations in 70
countries around the world. Wärtsilä is listed on the NASDAQ OMX
Helsinki, Finland.
www.wartsila.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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