Wärtsilä acquires French electro-technical service company Navelec

Wärtsilä Corporation, Press release, 4 September 2008 at 10:00 UTC+2

Wärtsilä has acquired Navelec SAS, a French company specializing in marine navigation and communication systems, electrical marine services, and control and automation services. Navelec’s main office is located in Le Havre, in France, with branch offices in St. Nazaire and Brest.

Navelec enjoys a valuable reputation among its key customers and has a broad knowledge of various vessel types, including fly boats, ferries, carriers, tugs and cruise ships. Navelec also has promising growth opportunities within the yacht segment.

“Through this acquisition, Wärtsilä is able to broaden its service offering and technological knowledge in the areas of navigation and communication. It also strengthens Wärtsilä’s position as the leading service provider within electrical marine and automation services. Furthermore, the acquisition gives us a strong foothold in one of France’s largest ports, Le Havre, and the nearby region. Together, Wärtsilä and Navelec can look forward to attractive growth opportunities as a total service provider for the marine segment,” says Tage Blomberg, Group Vice President, Wärtsilä Services.

Navelec’s annual net sales were 7 million euros in 2007. The company employs 45 people, of which 26 are field service personnel. Navelec’s businesses will be integrated into Wärtsilä Services’ business in France. All employees will continue as Wärtsilä employees. Wärtsilä acquired Navelec from Société financière pour l’industrie et l’agriculture (Sofia). The value of the deal is not published.

During the past months Wärtsilä Corporation has, through acquisitions, strengthened its existing services offering and expanded geographically. The company has also been able to enter new service categories. In addition to Navelec, Wärtsilä has this year acquired Maritime Service and Vik-Sandvik of Norway, International Combustion Engineering of Denmark, and Claus D. Christophel Mess- und Regeltechnik GmbH of Germany. These acquisitions support the strategy of Wärtsilä to strengthen its position as a total solutions provider and to be the most valued partner for its customers.

For further information, please contact:

Mr Tage Blomberg
Group Vice President, Wärtsilä Services
tel. +358 40 5057568

Mr Michel Kubbinga
Vice President, Services, Wärtsilä France
tel. +33 3 89 66 67 00

Mr Atte Palomäki
Group Vice President, Communications
Wärtsilä Corporation
Tel. +358 40 547 6390

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