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 $1m ($.8 million Euros). Stockholms Fartygsreparationer handles all types of ship repair on the eastern coast of Sweden and in 2005 had net sales of $1.1m (0.9 million Euros). 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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