Wärtsilä Acquires Power and Automation Systems from Aker Kvaerner

Friday, February 03, 2006
Wärtsilä has acquired Aker Kvaerner Power and Automation Systems AS (AKPAS) from Aker Kvaerner. AKPAS supplies power and automation systems for the oil and gas, marine and industrial markets. The company operates mainly in the North Sea region with major oil and gas companies and Norwegian shipyards. AKPAS has annual net sales of EUR 28 million and 135 employees in Stord, Norway. The acquisition price is approximately EUR 12 million. "The acquisition supports our growth strategy and it will enhance Wärtsilä's product portfolio and system integration capabilities in electric propulsion, power distribution and automation, especially in the oil and gas and offshore sectors. It also strengthens our capabilities for further development of electric systems and automation. In addition the acquisition offers interesting synergies with Wärtsilä as we are working in many projects with AKPAS already," says Mikael Mäkinen, Executive Vice President and Head of Ship Power.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Long Beach Port Celebrates Environmental Successes

Shipping lines, environmental organizations, trucking companies, terminal operators and a railroad were honored today, July 29, by Long Beach Mayor Dr. Robert

NAO Expedition to Study Walruses

From Naryan-Mar complex expedition started "Investigation Atlantic walrus habitat" for the study of animal southeastern Barents Sea. The expedition of seven

Rolls-Royce Takes Davies on Board

Rolls-Royce today announces the appointment of Alan Davies as a Non-Executive Director. He will join the Board with effect from 1 November 2015 and will become

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2367 sec (4 req/sec)