Wärtsilä takes ownership of John Crane-Lips

Monday, April 15, 2002
Wärtsilä and the UK-based Smiths Group have on April 15, 2002 completed the agreement transferring John Crane-Lips, a leading global supplier of marine propulsion systems, to Wärtsilä. The agreement was signed at the end of January, 2002. In the regulatory approval process no obstacles for the acquisition have arisen. The acquisition price is GBP 215 million (EUR 350 million). The acquisition of John Crane-Lips marks an important step towards Wärtsilä´s strategic goal to lead the ship power market. The company will be part of Wärtsilä's Marine Division under the name Wärtsilä Propulsion. Mr. Christoph Vitzthum, MSc(Econ), currently Vice President, Finance & Control of Wärtsilä Marine Division, has been appointed President of Wärtsilä Propulsion.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

New Bulk Carrier Design Puts Ecoships in the Lotus Position

Ecoships, the technical shipmanagement arm of Newport Shipping Group, has introduced a next generation bulk carrier design, developed to set the standard in ecologically

The Expense of New MARPOL Regulations

The Presidential Decree 979 and Marine Pollution Decree of 1976 were intended to protect marine and coastal elements from maritime pollution, yet due to their generality and datedness today,

Chevron Announces Alliance with Petrol Ofisi

Chevron has signed agreements with the fuel products distribution and lubricants company of Turkey, Petrol Ofisi in Istanbul, that will result in improved supplies

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0886 sec (11 req/sec)