Wärtsilä acquires Cedervall, the Swedish manu...

Wärtsilä Corporation, Press Release, 13 July 2011, at 4.20 pm (EET)



Wärtsilä has acquired Cedervall, one of the leading manufacturers of shaft seal
and bearing systems for the marine industry. Cedervall is headquartered in
Gothenburg, Sweden, and the company has subsidiaries in Spain, China and
Singapore, with manufacturing facilities in Sweden, China and Spain.

This acquisition strengthens Wärtsilä's leading position in the global marine
services market, in line with its strategy. The combination of Wärtsilä's and
Cedervall's businesses will create the market leader for oil and water
lubricated seals and bearings, as well as for sterntubes.

Cedervall enjoys a strong reputation in the global marine market. The company's
key products are sterntube and bulkhead seals, sterntubes and sterntube
bearings, intermediate shaft bearings, and propulsion rudders and nozzles. In
2010, the company's annual net sales were SEK 344 million (EUR 39 million) and
its profitability was on a good level. The company employs 211 people. Its
manufacturing facilities are located in Gothenburg, Sweden, in Zhangjiagang,
China, and in Vigo and Porrino, Spain.

"Cedervall's oil and water lubricated seals and bearings, and sterntubes
optimally complete the range of products and services in Wärtsilä's seals and
bearings portfolio. Furthermore, Cedervall's excellent know-how and expertise
will further enhance our competitiveness. Now having all products in the
propulsion line in-house, this acquisition strengthens our total propulsion
solutions", says Christoph Vitzthum, Group Vice President, Wärtsilä Services.

Cedervall will be integrated into Wärtsilä Corporation. All employees will
continue as Wärtsilä employees after the acquisition, including the current
owners Anders Lundgren and Henric Lundgren. The value of the transaction is not
published.

"For Cedervall, this deal offers an outstanding opportunity to develop and grow
the business, in a way that meets the needs of global customers. We could have
continued alone, but being a part of Wärtsilä, the leading equipment and after
sales services provider with a truly global presence, has clear benefits", says
Anders Lundgren, Managing Director, Cedervall.

The acquisition is subject to relevant regulatory approvals, which are expected
during the third quarter of 2011.


Wärtsilä Services - the industry's most extensive service network

Services is one of the three Wärtsilä's businesses alongside Ship Power and
Power Plants. Wärtsilä Services offers services to both the global marine and
energy markets and operates the most extensive service network in the industry.
The company's broad portfolio of services includes spare parts and field
services, as well as servicing of engines, propulsion systems, electrical and
automation systems, and boilers. It also covers environmental services and
solutions, upgrades and conversions, long-term agreements for engine and
propulsion systems, as well as training services. Wärtsilä's services business
is also in the forefront of developing new service concepts to meet customer
needs for optimal operational efficiency. Wärtsilä Services operates some 70
fully owned workshops and employs over 11,000 service professionals.


For further information, please contact:

Henri van Boxtel
Portfolio Director, Propulsion Services
Wärtsilä Netherlands
Tel. [phone]
[e-mail]


Tuula Franck
Senior Manager, Media and Stakeholder Relations
Wärtsilä Corporation
Tel. [phone] 555
[e-mail]

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 2010, Wärtsilä's net sales totalled EUR 4.6 billion with more than 17,500
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








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