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Wärtsilä Signs Ship Overhaul Contract

Maritime Activity Reports, Inc.

January 9, 2008

Wärtsilä signed in December a $13m contract with Norwegian ferry operator New Kystlink AS for an overhaul project of Kystlink's Pride of Telemark ferry. This contract emphasizes Wärtsilä's strength to be the total service provider. The scope of the project includes a complete electrical system installation, the removal and major overhauling of five of the ship's auxiliary engines, the onboard overhauling of two more main engines, as well as the renewal of 31 cabin interiors. The work is scheduled to last for 18 working weeks and is expected to be completed during the spring of 2008. The Pride of Telemark was built in 1983 and acquired by New Kystlink AS in 2005. The ferry sails between Norway, Denmark and Sweden, and carries 2000 passengers plus cars and trailers.

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