Wärtsilä Corporation, Press Release, 18 May 2007
Wärtsilä has signed an agreement to acquire the marine business of Railko Ltd. in the UK, a company specializing in synthetic stern tube bearing technology. The net sales of the company’s marine business is about MEUR 6 million and the number of employees is 25.
The company was founded 1957 and is today owned by Tenmat Ltd. The marine sector of Railko and Wärtsilä have maintained a relationship for the past 30 years, and have together developed specific materials for face seals.
“Shipowners are increasingly paying attention to the environmental impacts of shipping. Stern tube seals and bearings are among the most critical components in ships. By acquiring the marine business of Railko, Wärtsilä will improve its competitive position in oil-lubricated bearing systems. In addition, by adding water-lubricated bearings to its portfolio Wärtsilä obtains a unique position as the only global total solution provider in water-lubricated stern tube systems,” says Jaakko Eskola, Group Vice President and Head of the Ship Power business.
Railko designs, develops, manufactures and sells synthetic bearings. The company is application-focused and provides complete products to its customers. Railko’s products are used on all types of vessels, from cruise ships to cargo vessels.
Today Wärtsilä is a leading provider of stern tube seals and bearings for the marine industry. Wärtsilä has seals and bearings production units in the UK and Japan.
The deal is planned to close in Q3 2007.
For additional information please contact Mr Fred van Beers, Vice President Seals & Bearings, Ship Power, tel: +31 416 388 256.
Wärtsilä in brief
Wärtsilä enhances the business of its customers by providing them with complete lifecycle power solutions. When creating better and environmentally compatible technologies, Wärtsilä focuses on the marine and energy markets with products and solutions as well as services. Through innovative products and services, Wärtsilä sets out to be the most valued business partner of all its customers. This is achieved by the dedication of more than 14,000 professionals manning 130 Wärtsilä locations in close to 70 countries around the world.