Lifecycle Power Solutions News

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals, bearings and associated solutions to hydropower installations and industrial plants worldwide. Wärtsilä offers a wide portfolio of products and services to power plant owners and operators. By utilising Wärtsilä's global engineering, manufacturing and service capabilities, the Hydro & Industrial services offering targets the specific needs of hydropower, tidal energy and offshore wind installations as well as mining, paper, oil & gas, water management and power generation industries.

Innovation, superior technology and competitiveness are the characteristics that have brought the Finnish maritime industry world repute. Its well-knit maritime cluster responsible for achieving a high level of production has propelled it into prominence in the global market. Extreme conditions during winter have set technological and quality demands on Finnish shipping which, in turn has contributed towards the emergence of a competitive maritime industry in Finland. The Finnish Maritime and Offshore Cluster (incl. Marine industries, shipping and port operations in private and public sectors) is one of the central industries in the Finnish technology industries.

Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. Wärtsilä operates from more than 200 locations in nearly 70 countries around the world. The company’s net sales totaled $6.4 billion in 2013. By emphasizing technological innovation and efficiency, Wärtsilä maximizes environmental and economic performance. The company is a leader in dual fuel marine engines and is on the forefront of this technology, here and overseas. Wärtsila…

Wärtsilä and Transmashholding have agreed that Wärtsilä will sell its 50 per cent share in the joint venture Wärtsilä TMH Diesel Engine Company LLC to Transmashholding, the other joint venture party. The divestment of the joint venture will enable Wärtsilä to concentrate on its core areas of expertise, namely complete lifecycle power solutions for the marine and energy markets. The transaction has received the relevant regulatory approvals, and it is expected to be closed by the end of June 2014. The value of the agreement is approximately EUR 12 million. Wärtsilä and Transmashholding signed a joint venture agreement in May 2010 to manufacture modern and multipurpose diesel engines in Russia. The engines were to be used in shunter locomotives and in various marine and power applications.

Wärtsilä, a global leader in complete lifecycle power solutions and services, opens a new services workshop in Niterói, Rio de Janeiro, Brazil on Wednesday February 27 th 2013. The new facilities will strengthen Wärtsilä's presence in Brazil and enable Wärtsilä to support its customers by offering a wide range of workshop services with rapid response times. The new workshop will replace the company's current premises in São Cristóvão, Rio de Janeiro, and is designed to bring logistical advantages for the company and its customers.

Björn Rosengren President & CEO of Wärtsilä delivers his year 2012 financial results message to shareholders. "During 2012, we closed our largest ever acquisition with the purchase of Hamworthy. This acquisition supports our growth strategy in the marine gas, offshore and environmental solutions markets, and Hamworthy has performed well while being integrated to our Ship Power business. In 2012, the Power Plants business received two of its largest orders ever; a 384 MW power plant to be built in Azerbaijan followed by a 573 MW order from Jordan. I am also very pleased that Services' net sales returned to growth and reached an all time high level. Supported by the positive development in all three businesses, as well as by the acquisition of Hamworthy, our net sales grew by 12%.