Wärtsilä Acquires Company

Monday, March 03, 2008
Wärtsilä has acquired the Norwegian company Maritime Service AS, which specializes in ship service, mechanical and reconditioning services. Maritime Service has its operations in Ålesund, in More region on the west coast of Norway.

Maritime Service is well-positioned within fishery segment and has promising business potential in the ferry and off-shore vessel businesses. The purchase of Maritime Service will strengthen Wärtsilä's position and expand Wärtsilä's service offering in More region in Western Norway.

The annual net sales of Maritime Service were 26 million NOK (EUR 3.2 million) in 2007. The company employs 28 people, of which 25 are service workers. Maritime Service's businesses will be integrated into Wärtsilä Services business in Norway. All employees will continue as Wärtsilä employees. The value of the deal is not published.

"Maritime Service's skilled personnel, knowhow and established customer relations within fishery are a valuable addition to Wärtsilä's offering," says Mr Tage Blomberg, Group Vice President, Wärtsilä Services.

"Through the acquisition, Maritime Service will benefit from Wärtsilä's broad capabilities and service offering, strong market presence and customer relations," Blomberg continues.

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