Wärtsilä acquires two Dutch marine electrical repair companies

Wartsila Corporation
  • Stock exchange release
3 June 2004 at 3:01 AM E. Europe Standard Time

Wärtsilä Corporation STOCK EXCHANGE RELEASE 3.6.2004 at 8.30 am

Wärtsilä has acquired two Dutch marine electrical repair and service companies Decam B.V. and Elco Systems B.V, situated in the Rotterdam area. They are subsidiaries of Dutch Electrical Consulting Agency Holding BV. The companies have consolidated annual net sales of EUR 5.9 million and approx. 60 employees.

They specialize in electro technical service and repair works on board vessels worldwide and offshore installations, and in developing, producing, and selling electro technical equipment and measurement- and control equipment.

The acquisition of Decam and Elco strengthens Wärtsilä’s expertise and technical capabilities in electro technical and measurement- and control systems. It contributes a new line of services to Wärtsilä’s offering, and increases Wärtsilä’s growth potential in Northern Europe in this sector.

The acquisition is a logical step in Wärtsilä’s strategy to offer total service to its ship power and power plant customers. Decam and Elco will become part of the Ciserv group and will be named Ciserv Europoort BV. The parties have agreed not to disclose the purchase price.


 

Tage Blomberg
Group Vice President, Service
Wärtsilä Corporation
Direct tel: +358 10 709 2425
Direct fax:
e-mail: tage.blomberg@wartsila.com
Internet: www.wartsila.com