Acquisition of Vik-Sandvik’s ship design companies in Norway closed

Wartsila Corporation
  • Stock exchange release
27 August 2008 at 9:00 AM E. Europe Standard Time

Wärtsilä has received all relevant regulatory approvals in Norway for the acquisition of the ship design group Vik-Sandvik. The acquisition has now been closed for Vik-Sandvik’s Norwegian companies Vik-Sandvik AS, Vik-Sandvik Marine Services AS and Skipkonsulent AS, which form the substance of the acquisition.

Wärtsilä announced in the beginning of July that it had acquired Vik-Sandvik, which is a leading, independent group providing design and engineering services to ship owners and the ship building industry worldwide.

This acquisition is a major step in Wärtsilä’s strategy to strengthen its position as a total solutions provider and to be the most valued partner for its customers. Wärtsilä’s goal is to become the leading provider of ship design services in various segments.

Vik-Sandvik will be integrated into Wärtsilä Ship Design within Ship Power.

For further information, please contact:

Mr Arne Birkeland
President, Wärtsilä Norway AS
Vice President, Ship Power, Ship Design
Tel: +47 534 22971

Mr Atte Palomäki
Group Vice President, Communications
Wärtsilä Corporation
Tel: +358 40 547 6390
atte.palomaki@wartsila.com

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 17,000 professionals manning 160 Wärtsilä locations in 70 countries around the world. Wärtsilä is listed on The Nordic Exchange in Helsinki, Finland. www.wartsila.com