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Indiaexportnews.com

Wärtsilä increases its ownership to 100 per cent

  13.05.2009    

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.



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