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 Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

DSME Building 5 Icebreaking LNGCs for Yamal

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered

NewLead Holdings Acquire 5 Vessels

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less

Russia – Turkey Gas Pipeline Approved

Ankara hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Turkish Minister of Energy and Natural Resources.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0880 sec (11 req/sec)