Wärtsilä Acquires Engine Repair and Reconditioning Business

Monday, May 20, 2002
Wärtsilä entered into an agreement to acquire the engine repair and reconditioning business from Metalock Singapore Ltd., at the beginning of the year. This deal has now received the requisite approval of the company's shareholders and authorities. The business will be consolidated in Wärtsilä effective May 20, 2002. The acquisition price is approximately $4.9 million. The business has an annual net sales of $8 million and 87 employees. The acquired business will be called Ciserv Singapore Pte Ltd and it is located in Singapore. It will specialize in repairing and reconditioning marine engines, focusing in particular on low-speed engines in the South East Asian region. Wärtsilä Singapore provides other maintenance services for Wärtsilä's marine and power plant customers.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

Technip Bags Statoil's Umbilical Supply Contract

Technip’s wholly-owned subsidiary Technip Umbilicals Ltd.(1) has been awarded a contract by Statoil ASA to supply the umbilical(2) to the Oseberg Vestflanken 2 field offshore Norway.

Olympic Pact with Canyon Offshore

Norwegian offshore shipping company Olympic Shipping has entered into a frame agreement with Canyon Offshore for the joint marketing and subsequent operation of

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Sonar 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: 0.0529 sec (19 req/sec)