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Ole Johansson News

30 Jan 2014

Board Changes at Aker Arctic Technology

After the acquisition of 66.4% of the shares by Finnish Industry Investment Ltd (fully owned by the State of Finland) Aker Arctic Technology Inc.’s extraordinary shareholders’ meeting today appointed the new Board of Directors for the company. Ole Johansson was nominated Chairman and Juha Marjosola Vice-Chairman of the Board. The board members are Ole Johansson, Juha Koskela (ABB Oy), Antti Kummu (Finnish Industry Investment), Valborg Lundegaard (Aker Engineering & Technology A/S) and Juha Marjosola (Finnish Industry Investment). Ole Johansson, BSc (Econ.) served as the President&CEO of Wärtsilä Corporation from 2000 to 2011. He is the Chairman of eQ Oyj and member of the Board of Svenska Handelsbanken AB.

29 Jun 2011

New Wartsila Manufacturing Facility Opens in China

Wärtsilä CME Zhenjiang Propeller Co Ltd, the joint venture between Wärtsilä Corporation and Zhenjiang CME Ltd, inaugurated its new manufacturing facilities for controllable pitch (CP) propellers in Zhenjiang, China. Wärtsilä CME has invested EUR 12 million (over $17 million) in these facilities, as the company had announced last October. Wärtsilä CME Zhenjiang Propeller is the first company in China to manufacture Wärtsilä-designed, hydraulically-operated CP propellers. The first deliveries from the new factory are planned to take place later this year.

10 Feb 2011

Wärtsilä Appoints Rosengren President and CEO

Photo courtesy Wärtsilä Corporation

Wärtsilä's Board of Directors has appointed Mr Björn Rosengren M.Sc. (Tech.), born 1959, as the new President and CEO of Wärtsilä Corporation. He will assume the position on 1 September 2011, succeeding Mr Ole Johansson, who will retire. Currently Mr Rosengren works as Senior Executive Vice President Atlas Copco AB and as Business Area President for Atlas Copco Construction and Mining Technique, and is based in Shanghai, China. Mr Rosengren has held several management positions in the Swedish industrial group Atlas Copco since 1998.

28 Jan 2011

Wärtsilä's President, CEO Johansson to Retire

The President and CEO of Wärtsilä Corporation, Ole Johansson, has decided to retire after turning 60 years of age in June, using the right stipulated in his executive contract. The exact timing of his retirement will be announced later. Also, Johansson will not be available to continue in his position as a member of the Wärtsilä Board of Directors. Wärtsilä's Board of Directors has started the process to appoint a successor for Johansson. Ole Johansson has worked in various managerial positions in Wärtsilä since 1975, and as the President and CEO since 2000.

20 Oct 2010

Wärtsilä Corp. Interim Report

Ole Johansson, President and CEO said, "The third quarter was strong for Wärtsilä at all levels, as net sales developed according to plan, profitability was strong, and cash flow from operating activities was at an all time high level. As a result of this positive development we now expect our profitability to exceed 10% for the year 2010. The improvements in Wärtsilä's market environment that started in the second quarter have continued, and we expect the order intake for the full year to clearly exceed last year's levels. Based on the current order book and a stable service business we expect net sales to decline by approximately 15 percent in 2010 and our operational profitability (EBIT% before nonrecurring items) to be better than earlier expected and to exceed 10%.

20 Jan 2010

Wärtsilä Reduces Manufacturing Footprint

Wärtsilä has analysed its manufacturing footprint as announced in October. To adjust to the fundamental changes in the market Wärtsilä plans to reduce its manufacturing capacity. Wärtsilä also plans to move the majority of its propeller production and auxiliary engine production to China, close to the main marine markets. The current propeller manufacturing in Drunen, and the component manufacturing DTS in Zwolle, both in The Netherlands, are planned to be closed. The Wärtsilä 20 generating set production in Vaasa Finland is planned to be closed and moved to China in order to stay competitive in this market. In the course of 2010 Wärtsilä plans to reduce approximately 1,400 jobs globally within the Group. Of these reductions 570 are planned to be in the Netherlands.

29 Sep 2009

Wärtsilä Joins UN Global Compact initiative

Wärtsilä has signed the United Nations Global Compact initiative and has been registered as a participant by the UN Global Compact Office. With this action Wärtsilä further consolidates its commitment to sustainable business practices, and to the compact's underlying principles in the areas of human rights, labour, environment and anti-corruption. "We wanted to express our support for the UN Global Compact initiative, because we share the same values which it promotes. We believe that participation in the UN Global Compact will support our long-term efforts to develop our products and operations in a sustainable way. Our business and operations in 70 countries provide an excellent platform for us to continue taking these principles forward…

01 Oct 2008

Wärtsilä-Hyundai Engine Company Innaugurates New Factory

The new factory of Wärtsilä-Hyundai Engine Company Ltd.

Wärtsilä-Hyundai Engine Company, a joint venture between Wärtsilä and Hyundai Heavy Industries (HHI),  inaugurated its new factory in . The 50/50 joint venture company manufactures Wärtsilä 50DF dual-fuel engines for LNG carriers and other marine applications. The optimal capacity of the factory is 100-120 engines a year. During the inauguration, the first engine manufactured by the joint venture company was started by Mr Ole Johansson, President and CEO of Wärtsilä and Dr Keh-Sik Min, Vice Chairman and CEO of HHI. The Wärtsilä 50DF dual-fuel engine has pioneered an industry change.

07 Jan 2008

Wärtsilä Appoints Group VP

Mr Atte Palomäki (42) M.Sc. (pol.) has been appointed Group Vice President, Corporate Communications, as of March 1, 2008. In this new position Mr. Palomäki becomes a member of the Wärtsilä Board of Management and reports to Mr Ole Johansson, President and CEO. With this appointment Wärtsilä aims to integrate its global corporate communications, brand management, marketing communications and investor relations.

10 Nov 2003

EIB Grants Wärtsilä R&D Loan

The European Investment Bank (EIB) has granted Wärtsilä a research and development loan of EUR 100 million. Wärtsilä will use the loan to develop the competiveness and environmental performance of the engines. The goal is to reduce running costs and to ensure sustainable development throughout the life cycle of the engines. The European Investment Bank funds research and development that supports the long-term competitiveness of businesses in the EU. "The EIB loan is of major importance in developing our business. In an environment where increased price competition challenges production in Europe it emphasizes the importance and capabilities of European R&D," said Mr Ole Johansson, President & CEO of Wärtsilä. Mr.

01 Dec 2003

Wärtsilä Appoints Chairman of Chinese Operations

Jukka Murtoaro, currently President of Wärtsilä Singapore, has been appointed Chairman of Wärtsilä's Chinese operations starting from January 1, 2004. Murtoaro will relocate in Shanghai. In his new position he will report to Ole Johansson, President & CEO of Wärtsilä Corporation. Mr Richard Wang, President of Wärtsilä China Ltd. and Mr Matti Mikkonen, Senior Vice President, Corporate Ventures will continue in their present positions reporting to Jukka Murtoaro.

02 Dec 2003

Wärtsilä to Start Propeller Manufacture in China

Wärtsilä will begin manufacturing propellers in China. Wärtsilä's wholly owned company Wärtsilä Propulsion and Zhenjiang CME Co. Ltd (CME), wholly owned by the China State Shipbuilding Corporation (CSSC), have today signed a contract to establish a joint venture company. The company will be 55%-owned by Wärtsilä and 45%-owned by CME and its name will be Wärtsilä-CME Zhenjiang Propeller Co. Ltd. "China's shipbuilding industry is growing rapidly and 15% of new ships are currently built in the country. China also is developing into a significant production country for ship equipment. The propeller manufacturing in China is Wärtsilä's first step in developing its production in this growing market", says Wärtsilä's President and CEO Ole Johansson.

02 Dec 2003

Wärtsilä to start propeller manufacture in China

Wärtsilä will begin manufacturing propellers in China. and Zhenjiang CME Co. signed a contract to establish a joint venture company. 45%-owned by CME and its name will be Wärtsilä-CME Zhenjiang Propeller Co. Ltd. "China's shipbuilding industry is growing rapidly and 15% of new ships are currently built in the country. also is developing into a significant production country for ship equipment. CEO Ole Johansson. CSSC is the leading shipbuilding corporation in China. competitive component suppliers for increasingly demanding ships. opportunities in the global market. The company will produce LIPS and Kaida brand propellers. world. The joint venture will commence operations in CME's premises in Zhenjiang some 220 km west of Shanghai. be the design and manufacturing expertise.

15 Mar 2004

Wärtsilä: Sales are Up

Wärtsilä's CEO Ole Johansson, at the company's Annual General Meeting, said net sales have risen in early 2004. "Wärtsilä's net sales in January-February showed a slight increase compared to last year. Ship Power's orders are at last year's level. Power plant order intake is on a lower level than last year. clearly weaker than during the same period last year," he said. The profitability estimate for the whole of 2004 will remain unchanged. Wärtsilä's operational profitability will improve slightly. impact of capacity reductions of the company's performance will become visible during 2005. Power Businesses will be reached by the end of 2005.

30 Jan 2002

Wärtsilä Acquires John Crane-Lips

John Crane-Lips will become part of Wärtsilä following the signing of the sale and purchase agreement between Wärtsilä and John Crane-Lips´ UK-based parent Smiths Group. The transaction enhances Wärtsilä's position as a global ship power supplier and provider of integrated propulsion systems. The acquisition price is approximately $304 million. in the financial year ending July 31, 2001, with their net assets totaling $73 million. The acquisition of John Crane-Lips, which will operate within Wärtsilä under the name Wärtsilä Propulsion, marks an important step towards our strategic goal to lead the ship power market. The acquisition will be earnings neutral and cash flow positive in the first year, stated Wärtsilä's President and CEO Ole Johansson.

20 Jun 2000

Wärtsilä, John Crane-Lips In Marine Propulsion Deal

In a move which firmly signals that marine propulsion power consolidation of resource is far from complete, Wärtsilä NSD and TI Group, on behalf of John Crane-Lips, signed of a co-operation agreement to develop, market and supply total marine propulsion power systems to the shipbuilding industry. Agreement has also been reached for TI Group to purchase Wärtsilä NSD's propeller production and related servicing business at Rubbestadneset, Norway, with approximately 120 employees transferring from Wärtsilä NSD Norway to John Crane-Lips. The co-operation agreement follows the signing of a Letter of Intent in February and is subject to clearance by the appropriate regulatory authorities. Wärtsilä NSD and John Crane-Lips have significant complementary strengths.

09 Aug 2000

Ehrnrooth To Retire

In announcing its first half results, Metra's - parent company of Wärtsilä NSD - President and CEO, Mr Georg Ehrnrooth, announced that he will retire from this position during this year. He will be succeeded as President and CEO of Metra Corporation by Mr Ole Johansson MSc (Econ.), who will also continue as President and CEO of Wärtsilä NSD Corporation. Mr Raimo Lind MSc. (Econ.) has been appointed CFO of Metra Corporation. Mr Lind also continues as CFO of Wärtsilä NSD. The corporate managements of Metra and Wärtsilä NSD have been combined as planned.

14 Jul 2000

Marine Diesel Propulsion: Where Less Is More

Alstom Diesel engines and its three well-regarded brands — Mirrlees Blackstone, Paxman and Ruston — were recently bought by MAN B&W. Several recent deals have confirmed the continuing trend towards a consolidation of resources in the realm of marine propulsion equipment. The trend, to regular followers of the industry, is hardly a new development. However, a spate of recent new deals and consummations has brought the topic to the forefront again. As reported in the June 2000 edition of Maritime Reporter & Engineering News, the emergence of Rolls Royce as a major force in the field of marine propusion is solidified with a collection of brand name equipment suppliers. The U.K.

15 Dec 2000

Carnival Spirit Fitted With Cruise Industry's First Smokeless Diesel Engines

In a working partnership between Carnival Corp. and the Finnish marine power systems supplier Wärtsilä, the new 86,000-ton cruise ship Carnival Spirit will be fitted with the cruise industry's first smokeless diesel engines. The Carnival Spirit, the first ship in a new class for Carnival Cruise Lines, is currently under construction at Kvaerner Masa-Yards and is expected to enter service in late spring 2001. Its inaugural season will include two Panama Canal sailings, a series of Alaska and Hawaii voyages, and a new eight-day schedule from Miami. Initially, two of the ship's six Wärtsilä 9L46D engines will be modified with the new "smokeless" engine technology.

14 Dec 2004

Lind, Mäkinen Appointed at Wärtsilä

Raimo Lind, MSc (Econ.), Group Vice President, CFO, and Mikael Mäkinen, MSc (Eng.), Naval Architect, Group Vice President, Ship Power, have been appointed Executive Vice Presidents of Wärtsilä Corporation with effect from 1 January 2005. Mr Lind will also act as deputy to President and CEO Ole Johansson. Wärtsilä's current Executive Vice President, Sven Bertlin, retires on 31 December 2004. Raimo Lind, born 1953, holds a Master's degree in Economics and Business Administration. He has been Group Vice President, CFO, of Wärtsilä and a member of the Board of Management since 1998. He was employed by the company between 1976 and 1989, and then rejoined in 1998. He has broad-ranging experience of financial management and international business management.

13 Jan 2005

Wärtsilä to Acquire DEUTZ Marine Engine Service

Wärtsilä will acquire the assets of the German DEUTZ AG's medium and large marine engine service business. The acquisition price is EUR 115 million. The deal is earnings enhancing for Wärtsilä in 2005. The business consists of original spare parts sales, repair and maintenance for DEUTZ medium and large marine diesel engines. This deal will increase the installed engine base for Wärtsilä Service by 12,500 MW or by 9%. Today Wärtsilä's installed engine base is 130,000 MW. Wärtsilä's President & CEO Ole Johansson: "Wärtsilä has consistently and successfully expanded its Service business in recent years by increasing the scope of services and by acquisitions in the Ship Power market - in line with our strategy.

23 Jan 2007

Wärtsilä, Hyundai form Joint Venture

Wärtsilä and Hyundai Heavy Industries Co. Ltd (HHI) signed an agreement to set up a 50/50-owned joint venture in Korea to manufacture dual-fuel engines for LNG (Liquefied Natural Gas) carriers. The total investment in the company will be EUR 58 million, Wärtsilä's share being EUR 29 million. The name of the company will be Wärtsilä Hyundai Engine Company Ltd and the intended location is in South Korea. The technology shift towards dual-fuel machinery in LNG carriers has significantly increased demand for Wärtsilä's dual-fuel engines. The main market is Korea. Demand in the market is forecast to continue growing in pace with the increasing demand for natural gas.

12 Sep 2007

Wärtsilä Inaugurates New Facility

Ole Johansson, President and CEO of Wärtsilä Corporation, Tage Blomberg, Group Vice President of Wärtsilä Services, Sergio Razeto, President of Wärtsilä in Italy and Lars Hellberg, Group Vice President of Wärtsilä Industrial Operations were all present at the inauguration of the new modern facilities for the Wärtsilä Delivery Centre Trieste, Italy. The Wärtsilä investment project, which started last year at the Delivery Centre Trieste in Italy, is now complete. Wärtsilä has invested $24.8m in a modern manufacturing concept to increase capacity for engine assembly and testing in Trieste, Italy. The new engine production facilities and new Wärtsilä Land & Sea Academy Training Center were inaugurated in Trieste…