Wärtsilä increases its ownership of Italian company Wärtsilä Navim Diesel to 100 per cent

Wärtsilä Corporation, Press release 13 May 2009 at 11:30 UTC+2

Wärtsilä has acquired the remaining 60 per cent of the shares of Wärtsilä Navim Diesel of Italy, thus increasing its ownership of the company to 100 per cent. Wärtsilä Navim Diesel, which specialises in marine sales and service, has a strong market position, particularly in the Cruise & Ferry segment. The company enjoys an excellent reputation among its customers for its broad expertise and outstanding service. Wärtsilä Navim Diesel has all its operations in Genoa.

The transaction helps to clarify operational activities within the Italian market, and brings Wärtsilä even closer to its customers, with the activities of both companies now fully aligned. Wärtsilä Navim Diesel’s high degree of competence and know-how is a valuable complement to Wärtsilä’s service offering in Italy.

“This acquisition will further strengthen Wärtsilä’s market position, not only in Italy, but also as one of the world’s leading total marine service providers,” says Mr Carl-Henrik Björk, Vice President, Cruise & Ferry, Wärtsilä Ship Power.

Wärtsilä Navim Diesel’s net sales amounted to EUR 46 million in 2008, and profitability was on a good level. The company employs 88 people. Its businesses will be integrated into Wärtsilä Services business in Italy and all personnel will continue as Wärtsilä employees. The value of the deal is not published.

For further information, please contact:

Mr Carl-Henrik Björk
Vice President, Cruise & Ferry
Wärtsilä Ship Power
Tel. +39-335-7274764

Mr Andrea Caorsi
Managing Director
Wärtsilä Navim Diesel srl
Tel. +39-335-7719144

Ms Tuula Franck
Press Manager
Wärtsilä Corporation
Tel: +358-400-267555

Wärtsilä in brief

Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers.
In 2008, Wärtsilä’s net sales totalled EUR 4.6 billion with 19,000 employees. The company has operations in 160 locations in 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.