A new Ciserv company to serve the Baltic region

Wärtsilä Corporation, Trade press release 14 March 2005 at 14:00 UTC+2

Wärtsilä Corporation and the BLRT Grupp of Estonia have agreed to set up a joint venture to service ships in the Baltic area. The new company will be named Oü Ciserv BLRT Baltica and will be a “one-stop” shop for servicing ships covering all aspects of ship repairs, as well as servicing multiple engine brands, boilers, hydraulics, gearboxes, winches, pipework valves, armatures, propellers, shafting, and other ship equipment.

The joint venture will be owned 51% by Wärtsilä and 49% by the BLRT Grupp. Ciserv BLRT Baltica will operate in Tallinn, Estonia.

The new company will start with some 65 employees in Tallinn but with the facility to draw on the extensive resources of both Ciserv and the BLRT Grupp according to the needs of individual service jobs.

The joint venture will bring great benefits to the customers of both Ciserv and the BLRT Grupp, as well as to the companies themselves. Ciserv BLRT Baltica will extend the delivery of Ciserv products and services to the major markets of the Baltic and Eastern Europe. It will provide Ciserv customers with full shipyard repair facilities in the Baltic region.

Ciserv group
The Ciserv group is a fast growing global network of service companies. Ciserv delivers a wide range of fast, cost effective, local support for 2-stroke and 4-stroke diesel engines and a variety of ship equipment including propulsion systems, auxiliary equipment, boilers, control and automation equipment and general steelwork.

Wärtsilä Corporation
Wärtsilä is The Ship Power Supplier for builders, owners and operators of vessels and offshore installations. Our own global service network takes complete care of customers’ ship machinery at every lifecycle stage. Wärtsilä is a leading provider of power plants, operation and lifetime care services in decentralized power generation.
With a worldwide network of 130 offices and workshops in 60 countries providing a service workforce of some 6000 persons, Wärtsilä is able to provide the best possible support for system solutions, equipment maintenance, on time deliveries and even plant operation. Wärtsilä has Ciserv companies in eight countries.

BLRT Grupp
BLRT Grupp is one of the largest enterprises in Estonia, and also in the Eastern Baltic. Springing from ship repair activities in Tallinn, it now focuses on ship repair, shipbuilding, fabrication of steel structures, machine building, scrap metal processing, etc. The group has shipyards in Tallinn and Klaipeda. 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 Dahlen, Managing Director, Wärtsilä Sweden AB, tel. +46 31 744 46 40,

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

Media contacts:

Ms Marit Holmlund-Sund
Public Relations Manager, Ship Power
Wärtsilä Corporation
Direct tel: +358 10 709 1439
Direct fax: +358 10 709 1425
Internet: www.wartsila.com

Dan Pettersson
Manager, Marketing Communications
Wärtsilä Corporation; Service
Direct tel: +358 10 709 2214
Direct fax: +358 10 709 2422
Internet: www.wartsila.com