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Date
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Company
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Description
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| July 2008 |
Vik-Sandvik, Norway |
Acquisition of the global ship design group Vik-Sandvik, a leading independent group providing design and engineering services to ship owners and the ship building industry worldwide. The value of the acquisition is EUR 132 millions, with an additional maximum sum of EUR 38 millions to be paid based on the performance of the business over the next three years. In 2007, Vik-Sandvik’s turnover was EUR 55 millions and the profitability is on a very good level. The number of employees is 410.
Link to the release.
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| June 2008 |
Claus D. Christophel Mess- und Regeltechnik GmbH (CDC), Germany |
Acquisition of the German company Claus D. Christophel Mess- und Regeltechnik GmbH (CDC), which specializes in the design, delivery and service of automation systems for ship owners and yards. Annual sales were EUR 2.1 million in 2007. The company employs 12 people.
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| April 2008 |
International Combustion Engineering A/S (I.C.E.), Denmark |
Acquisition of the Danish company International Combustion Engineering A/S (I.C.E.). The company specializes in project engineering and the service and repair of steam boilers and ancillary burner systems. Annual net sales 46,8 million Danish crowns (EUR 6.3 million), number of employees 30. The acquisition expands Wärtsilä's service offering into the new category of boiler services.
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| March 2008 |
Maritime Service AS, Norway |
Acquisition of Maritime Service AS. The company specializes in ship service, mechanical and reconditioning services. Net sales appr. EUR 3.2 million, number of employees 28.
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| August 2007 |
Electrical Power Engineering (Scotland) Ltd. |
Acquisition of a Scottish company Electrical Power Engineering (Scotland) Ltd. The company specializes in electrical power engineering solutions for marine, offshore, industrial and utilities segments. Net sales appr. EUR 20 million, number of employees 31.
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| May 2007 |
Marine business of Railko Ltd., UK |
Acquisition of the marine business of Railko Ltd. in the UK, a company specializing in syntetic stern tube bearing technology. Net sales of the marine business is about EUR 6 million and the number of employees is 25.
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| May 2007 |
McCall Propellers Ltd., UK |
Acquisition of the UK-based propeller repair company McCall Propellers Ltd. The company's net sales are GBP 6.4 million (EUR 9.4 million).
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| February 2007 |
Senitec AB, Sweden |
Acquisition of the swedish company Senitec AB in Varberg. The company is privately-owned and specialized in environmental technology products for separating waste such as oily water and sludge in power plants, harbours and ships.
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| January 2007 |
Wärtsilä Hyundai Engine Company Ltd, Korea |
Establishment of 50/50-owned joint-venture with Hyundai Heavy Industries Co. Ltd (HHI) in Korea. The new company will manufacture dual-fuel engines for LNG (liquified natural gas) carriers. The total investment will be EUR 58 million, Wärtsilä's share being EUR 29 million.
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| January 2007 |
Marine Propeller (Pty) Ltd, South Africa |
Acquisition of the entire business of the South African company Marine Propeller (Pty) Lts in Cape Town, South Africa. The company is privately owned and focuses mainly on repairing propellers.
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| December 2006 |
SCHIFFKO, Germany |
Acquisition of the German ship design company group SCHIFFKO. The company specializes in the planning and design of ships especially in the container, research and offshore vessel segments. The acquisition supports Wärtsilä's strategic focus to grow as a system integrator and provider of total solutions to the shipping and shipbuilding market.
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November 2006
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Ovako Oy Ab
|
Divestment of the operating companies owned by Oy Ovako Ab to a company owned by the shareholders of Hombergh Holdings BV, WP de Pundert Ventures BV and Pampus Industrie Beteiligungen GmbH & Co. KG.
The divestment of Ovako concludes Wärtsilä’s plan to focus on the company’s core businesses. Wärtsilä registered a tax-free capital gain on the transaction of appr. EUR 49 million.
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October 2006
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Stockholms fartygsreparationer AB, Sweden
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Acquisition of the Swedish company Stockholms Fartygsreparationer. The company handles all types of ship repair on the eastern coast of Sweden. The acquisition is a base for further expansion along the Swedish east coast and a part of Wärtsilä’s strategy to expand the business operations of the Wärtsilä Services.
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September 2006
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Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co Ltd (QMD).
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Establishment of joint-venture with China Shipbuilding Industry Corporation (CSIC) and Mitsubishi Heavy Industries (MHI) to manufacture large, low-speed marine engines in China. CSIC will hold 50% of the joint venture, Wärtsilä 27% and Mitsubishi 23%. The investment totals around 75 million euros, spread over several years. Production is scheduled to start in 2008.
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July 2006
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INTEC Injectortechnic GmbH, Germany
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Acquisition of German company specialized in fuel injection equipment, providing installation and services of injection components for marine diesel engines. The acquisition strengthens Wärtsilä’s competence in the area of this important engine technology.
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March 2006
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Wärtsilä BLRT Services Klaipeda UAB, Lithuania
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Establishment of company in ship service in the Baltic area, part of strategy to strengthen position as Total Service supplier to marine customers. Joint venture; 51% Wärtsilä and 49% BLRT Grupp.
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February 2006
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Diesel Technology Solutions BV (DTS), the Netherlands
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Acquisition of component machining capacity, secures added capacity to handle current high order book at Vaasa and Trieste factories.
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February 2006
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Total Automation Ltd, Singapore
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Acquisition of company in marine automation, strong foothold in offshore and LNG sectors. Part of strategy to strengthen position as Total Service supplier. Complements earlier automation and electrical automation acquisitions. Acquisition price appr. EUR 61.6 million.
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February 2006
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Aker Kvaerner Power and Automation Systems AS (AKPAS), Norway
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Acquisition of supplier of power and automation systems for oil & gas, marine and industrial markets. Part of strategy to strengthen position as Total Service supplier. Complements earlier automation and electrical automation acquisitions. Acquisition price appr. EUR 12 million.
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December 2005
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Wärtsilä Propulsion Heerlen B.V, the Netherlands
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Divestment. Part of Wärtsilä’s manufacturing strategy.
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December 2005
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Gerhardt Holding Co., Inc., United States
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Acquisition of company in servicing control and automation equipment for gas and diesel engines. Part of growth strategy in Services. Acquisition price EUR 8.6 million.
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May 2005
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Oy Ovako Ab
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Wärtsilä, Rautaruukki and SKF merge long steel businesses into a jointly owned new company Oy Ovako Ab. Wärtsilä owns 26.5%.
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April 2005
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Wärtsilä Qiyao Diesel Company Ltd., China
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Establishment of 50/50 owned joint venture with Shanghai Marine Diesel Engine Research Institute. Manufacturing of Wärtsilä designed marine auxiliary engines in China.
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April 2005
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Wärtsilä’s manufacturing unit in France
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Divestment of high-speed manufacturing unit in Mulhouse, France to Mitsubishi Heavy Industries Ltd. Completes restructuring programme started in 2003.
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March 2005
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DEUTZ AG, Germany
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Acquisition of DEUTZ AG's medium and large marine engine service business. In line with strategy to expand Service business by increasing scope of services and by acquisitions. Acquisition price EUR 115 million.
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March 2005
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Oü Ciserv BLRT Baltica, Estonia
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Joint venture with BLRT Grupp of Estonia to service ships in the Baltic area. Wärtsilä owns 51% and BLRT Grupp 49%.
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