Wärtsilä Buys Engine Reconditioning Business

Friday, February 15, 2002
Wärtsilä announced it has furthered its capabilities with the acquisition of the engine reconditioning business from Metalock (Singapore) Ltd. for about $5.4 million. The acquisition will consist of the marine engine repair and recondition business and the workshop, a business that generates a cumulative sales volume of about $8.8 million. "This acquisition will further strengthen Wärtsilä as a total service provider. We have an opportunity to increase our market share especially in the low speed engines", says Tage Blomberg, Group Vice President and Head of the Service division. The focus of the acquired business is on marine engine reconditioning, with the special know how in low speed engines. The workshop is located in Singapore. "We will now have a possibility to provide also recondition service for our customers in South East Asia region, the service which we earlier didn´t have in-house", says Jukka Murtoaro, Managing Director of Wärtsilä Singapore. The acquired business will be named Ciserv and it will concentrate on recondition business. Wärtsilä Singapore provides other services for the marine and power plant customers. The closing of the deal will take place in the first part of the current year 2002. The transaction is subject to the approval of the shareholders of Metalock and various regulatory authorities.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Change of Management at Yanmar

Having reached the age of retirement, Geert Jan Mantel will resign from his position as President of Yanmar Europe B.V. as per June 30, 2014, a position he has occupied since April 1, 2002.

LNG Bunkering Will Develop Fast - LR Study

Lloyd's Register’s (LR) LNG Bunkering Infrastructural Survey 2014 indicates that major ports around the world are either planning for, or are anticipating, the wide-scale development of LNG bunkering.

Rolls-Royce congratulates US Navy on christening of USS Zumwalt

Rolls-Royce congratulated the US Navy on the christening of the USS Zumwalt, the first of its new and highly sophisticated DDG 1000 multi-mission destroyer class of ship.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0909 sec (11 req/sec)