Metalock Singapore Ltd News

Wärtsilä's reported that net sales for the first quarter increased 17 percent to EUR 580.9 (497.4) million, despite a weakening of the global marine market and nearly non-existent containership business. After the close of the period Wärtsilä paid approximately EUR 350 million for the acquisition of John Crane-Lips. during the first months of the year. quarter in 2001. Demand was most active for tankers and bulk carriers. The containership market has all but halted. John Crane-Lips became part of Wärtsilä on April 15, 2002. global ship power supplier. April 1. The company gained a significant order for dual-fuel engines in April. Gaz de France. The vessel is the first in the world to deploy a propulsion system based on diesel technology.

Wärtsilä entered into an agreement to acquire the engine repair and reconditioning business from Metalock Singapore Ltd., at the beginning of the year. This deal has now received the requisite approval of the company's shareholders and authorities. The business will be consolidated in Wärtsilä effective May 20, 2002. The acquisition price is approximately $4.9 million. The business has an annual net sales of $8 million and 87 employees. The acquired business will be called Ciserv Singapore Pte Ltd and it is located in Singapore. It will specialize in repairing and reconditioning marine engines, focusing in particular on low-speed engines in the South East Asian region. Wärtsilä Singapore provides other maintenance services for Wärtsilä's marine and power plant customers.

Wärtsilä will acquire the engine reconditioning business from Metalock (Singapore) Ltd. The acquisition will consist of the marine engine repair and recondition business and the workshop. Wärtsilä will pay a consideration of $ 4.7 million for the acquisition. The sales volume of the acquired business is $7.7 million and number of employees is 87. The focus of the acquired business is on marine engine reconditioning, with the special know how in low speed engines. The workshop is located in Singapore. "We will now have a possibility to provide also recondition service for our customers in South East Asia region, the service which we earlier didn´t have in-house", says Jukka Murtoaro, Managing Director of Wärtsilä Singapore.

Wärtsilä announced it has furthered its capabilities with the acquisition of the engine reconditioning business from Metalock (Singapore) Ltd. for about $5.4 million. The acquisition will consist of the marine engine repair and recondition business and the workshop, a business that generates a cumulative sales volume of about $8.8 million. "This acquisition will further strengthen Wärtsilä as a total service provider. President and Head of the Service division. The focus of the acquired business is on marine engine reconditioning, with the special know how in low speed engines. The workshop is located in Singapore. "We will now have a possibility to provide also recondition service for our customers in South East Asia region…