Wärtsilä's subsidiary and employee not guilty

Wärtsilä Corporation
  • Stock exchange release
5 July 2006 at 3:01 PM FLE Standard Time

Wärtsilä’s subsidiary Wärtsilä Finland and its employee have been found not guilty in the Court of Appeal of Vaasa, Finland. As anticipated, the decision of the Court of the Appeal was the same as the decision of the district court of Vaasa.

In conjunction with ship deals carried out in 1999 and 2000, Wärtsilä paid an owners´ commission to a bank account which the representative of Gotland Rederiet informed. The court determined that this was not bribery, as was presented in the indictment. It was also proven in court that owners´ commissions are the normal course of business of the industry.

The company employee is continuing in his position as General Manager, Ship Power Sales.

Further information:

Kari Hietanen, Group Vice President, Legal Affairs and HR, Wärtsilä Corporation, tel. + 358 40 754 4363.