Wärtsilä acquires Swedish Ship Repair Business

Monday, October 16, 2006
Wärtsilä has signed an agreement to acquire the entire business of the Swedish company Stockholms Fartygsreparationer AB. The agreement is worth 7.5 million Swedish krona (EUR 0.8 million).

Stockholms Fartygsreparationer handles all types of ship repair on the eastern coast of Sweden and in 2005 had net sales of 8 million Swedish krona (EUR 0.9 million). The business will now be handled by Wärtsilä Sweden AB. Stockholms Fartygsreparationer's personnel of 10 persons will become Wärtsilä employees.

This acquisition is a base for further expansion along the Swedish east coast and a part of Wärtsilä's strategy to expand the business operations of the Wärtsilä Services.

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