A new Wärtsilä company to serve the Baltic region

Wärtsilä Corporation, Press release 1 March 2006 at 11:00 UTC+2

Wärtsilä Corporation and the BLRT Grupp of Estonia will set up a second joint venture to service ships in the Baltic area. The joint venture will be owned 51% by Wärtsilä and 49% by the BLRT Grupp. Establishing a service company is integral to Wärtsilä’s strategy of strengthening its position as the Total Service supplier to its marine customers.

The new company will be named Wärtsilä BLRT Services Klaipeda UAB and it will provide a single source of marine service covering all aspects of ship repair including servicing of engines, gearboxes, propellers, and other ship equipment.

Wärtsilä BLRT Services Klaipeda UAB will operate in Klaipeda, Lithuania. The new company will start with some 50 employees in Klaipeda but with the facility to draw on the extensive resources of both Wärtsilä and the BLRT Grupp according to the needs of individual service jobs.

The joint venture will bring significant benefits to the customers of both Wärtsilä and the BLRT Grupp, as well as to the companies themselves. Wärtsilä BLRT Services Klaipeda UAB will provide services to customers with full shipyard repair facilities in the Baltic region.

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 12,000 professionals manning 130 Wärtsilä offices in over 60 countries around the world.

BLRT Grupp

BLRT Grupp is one of the largest enterprises in Estonia, and also in the Eastern Baltic. Growing from ship repair activities in Tallinn, it now focuses on ship repair, shipbuilding, fabrication of steel structures, machine building, and scrap metal processing. The group has shipyards in Tallinn and Klaipeda, Lithuania. The majority of its customers are in Norway, Finland, Sweden, Germany, Denmark, the Netherlands and the Baltic countries.

For further information, please call:

Mr Bo Dahlén, Managing Director, Wärtsilä Sweden AB, Tel. +46 31 744 46 40.

Mr Alexander Zaporozhtsev, Chief Internal Auditor, BLRT Grupp AS, Tel. +372 6102 382