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Ship Power Supplier News

21 Nov 2001

Wärtsilä in Talks to Acquire John Crane-Lips

In a move aimed at extending its claim as a single source ship's propulsion supplier, Wärtsilä Corporation and Smiths Group are in exclusive discussions regarding a possible sale by Smiths Group of John Crane-Lips to Wärtsilä. Wärtsilä and John Crane-Lips entered into a strategic alliance in October 2000 to provide total marine propulsion power systems through the Wärtsilä network. The acquisition of John Crane Lips is seen as a valued enhancement to Wärtsilä's position as a leading global ship power supplier. The acquisition would generate additional sales of more than EUR 200 million for the Marine & Licensing division of Wärtsilä. John Crane-Lips is a supplier of integrated marine propulsion systems and marine seals and bearings.

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.

03 May 2002

Wärtsilä Reports 1Q Results

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.

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.

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.

09 Aug 2000

Wärtsilä NSD Is Back On Track, Engine Orders Up 41%

Metra's - parent company of Wärtsilä NSD - reported that its 2Q net sales were $663.6 million, comparable growth 19%. comparable growth was $19.5 million. A driving force has been Wärtsilä NSD, which boasts an orderbook up 41%, and intake of new orders up 79% on same period last year. Wärtsilä NSD posted an operating profit of $18.6 million, which is 3.6% of net sales. Wärtsilä NSD became a wholly owned subsidiary of Metra on February 29, 2000 when Metra acquired the 15.4% minority holding owned by Fincantieri Cantieri Navali Italiani for nearly $100 million. The split-up of the Cummins Wärtsilä joint venture took place during February as well.

08 Nov 2000

Wärtsilä Unveils Plans For The Future

Earlier this year, the company announced that, as The Ship Power Supplier, it offered complete marine power systems for all types of vessels, together with all associated services. As attested by the variety of companies both inside and out of the marine propulsion realm that are attempting to reshape their companies as a "one-stop-shop", such solutions are intended to add value and better satisfy the group's customers and business partners. An essential tool in this strategy — in Wärtsilä's case — is the new e-business channel, which gives direct access to Wärtsilä's information and services. Shipbuilders increasingly outsource work and look for cost savings to be more competitive.

31 Aug 2004

Wärtsilä Sells High Speed Engine Rights to Dresser

Wärtsilä has sold the product rights of the high-speed Wärtsilä 200 and 220 product family to Dresser Inc. Waukesha business unit in the USA. Wärtsilä will continue to provide service for the engine base as before. This transaction does not include transfer of personnel. Wärtsilä is also negotiating the transfer of its production in Mulhouse, France, to another company. That company would then take on part of the factory's personnel. Wärtsilä's production in Mulhouse ceases at the end of 2004. The Mulhouse unit has a current workforce of approximately 450. Wärtsilä France will henceforth concentrate on service. This transaction is part of Wärtsilä's ongoing restructuring programme and the company's aim to focus on its strong products.

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.

03 Feb 2005

Wärtsilä Expands in China

Wärtsilä has signed a letter of intent with China Shipbuilding Industry Corporation (CSIC) to set up a 50/50 joint venture to manufacture marine auxiliary engines in China. The location of the new factory will be in the Shanghai area. The intention is to start the production of the defined Auxpac W20 generating sets for the growing shipbuilding market in China and to sell these through Wärtsilä global network. Auxiliary engines are used for producing electricity in ships. The parties aim to finalize the negotiations during the first half of 2005. China Shipbuilding Industry Corporation (CSIC) is one of the largest groups in China in the field of design, manufacture and trade of military and merchant ships, marine engineering and marine equipment.

18 Apr 2001

Finland: Cradle of Marine High-Tech

The Finnish maritime market continues to serve the high-tech, high-value end of the marine business with a plethora of engineered solutions and continually evolving marine technology. As the brunt of "series production" shipbuilding (ie. bulkers and tankers) is now firmly embedded in the Far East, dominated by Japan, Korea and China, Finland continues to be a dominating force in specialty markets, most notably cruise shipping. But the industry today is vastly different from that — even five years ago. Finland has not been insulated from the wave of corporate consolidations engulfing the world. In fact, the status of its two signature yards…

09 Jul 2001

New Technology Debuts in Oslo

NorShipping 2001, held in Oslo, Norway in early June, once again proved to be a dynamic exhibition complete with some of the more influential personnel in the marine business on-hand for the week long event. As usual, marine manufacturers used the platform of NorShipping to launch new products, systems and services to the international market, some of which is detailed in the following report. Wärtsilä Corp., the ubiquitous propulsion system manufacturer announced that it had received a contact to supply the complete marine power system for the first of a series of environmentally safe 40,000-dwt chemical/product tankers building at the San Marco shipyard in Italy. For the 40,000-dwt tankers, Wärtsilä will be just that, as it is responsible for the complete functionality of the system.

06 Jun 2001

Industrial Espionage Suspected At Wärtsilä

Wärtsilä's unit in Vaasa, Finland, has been hit by a case of serious industrial espionage, a regional paper Pohjalainen reported. "The police are investigating the case, as there is reason to suspect there has been spying," Wärtsilä Finland Oy's Chief Executive Heikki Miilumaki was quoted by the paper as saying. Miilumaki said it seemed one member of Wärtsilä's personnel was involved in the case, but would not say in which department the person worked. "Thus, we want to ensure that people in different departments will not start blaming each other during the investigations," he said. Officials at Wärtsilä were not immediately available for further comment. Some 1,500 people work at Wärtsilä's Vaasa plant, which manufactures marine engines and diesel power plants.

31 Aug 2001

Wärtsilä Increases Shareholding In Wärtsilä India

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.