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 Today


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

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

Marine Propulsion

GE Gas Turbines for Japan's New Warship

GE's Marine Solutions announced it will provide IHI, Tokyo, Japan, with two LM2500 aeroderivative marine gas turbines for the Japan Maritime Self Defense Force's (JMSDF) new 8,

WSS Offers ‘One Stop Shop’ Approach to Bunkering

Ship operators who rely on a myriad of companies for their global bunkering needs are wasting time, money and energy, with no guarantee of standardized quality of products and services,

BAE Systems Bags USN Award for Submarine Propulsors

BAE Systems has received a $72 million contract from the U.S. Navy to produce and deliver propulsor systems for Block IV Virginia-class (SSN 774) submarines. The

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage 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: 0.0979 sec (10 req/sec)