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

People & Company News

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Finance

U.S. Awards $61.8 Mln for Port Projects

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.

Moody's: Challenges Ahead for Asian Port Operators

Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

 
 
Maritime Careers / Shipboard Positions Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.0899 sec (11 req/sec)