Wärtsilä Increases Shareholding In Wärtsilä India

Friday, August 31, 2001
Wärtsilä Corporation, holding at present 51% of the shares in Wärtsilä India Ltd., has made a public offer to the minority shareholders to acquire up to 49% of the shares in the Company. The total amount of the offer is about 16.5 million euro if all shares will be purchased. The offer is made at a premium of some 74% over current market price and 61% over the last 26 weeks' average price. The offer period ends on November 6, 2001. Wärtsilä Corporation has increased its shareholding in Wärtsilä India stepwise from the original level of 25%. The Group has normally 100% ownership in its local companies, and aims now at applying the same principle to Wärtsilä India. Wärtsilä India is listed on the stock exchanges in Mumbai and Delhi. The Company supplies power equipment and turnkey power plants to industries, utilities and Independent Power Producers. It is also a ship power supplier to shipyards and shipowners. The service activity of the Company is comprehensive. In year 2000 the total turnover was about 82 million euro and the number of employees close to 560. The Company has been profitable. Wärtsilä Corporation is the leading global ship power supplier and a major provider of solutions for decentralized power generation and of supporting services. In addition Wärtsilä operates a Nordic engineering steel company and manages holdings to support the development of its core business. The net sales of Wärtsilä in 2000 were EUR 2.7 billion and the number of employees are 10,500.

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

People & Company News

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

EU Clears CMA CGM, NOL Merger, with Conditions

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.

Finance

Baltic Index Down on Lower Capesize, Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Friday, as demand for capesize and panamax vessels fell.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

SCHOTTEL Debuts EcoPeller with High-torque Gears

Propulsion and steering systems manufacturer SCHOTTEL has unveiled its new EcoPeller (SRE), which it said offers improved efficiency and robustness. Playing a

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.0871 sec (11 req/sec)