Wärtsilä acquires propulsion system service business in Denmark

Wärtsilä Corporation, Stock exchange release, 16 September 2002 at 12:30 UTC+2

Wärtsilä has signed a letter of intent to acquire a Danish propulsion system service company JMC Marine A/S. The company is specialised on propulsion system maintenance based on laser measuring technology. The turnover of the company is DKK 27 million (EUR 3.6 million) and the number of employees is 28.

"This acquisition will further strengthen Wärtsilä’s total service offerings. Our aim is to provide as broad a spectrum as possible of tailored solutions and expertise know-how covering every aspect of operation and maintenance. The know-how developed by JMC Marine speeds up and improves customer service", says Tage Blomberg, Group Vice President and Head of the Service division.

The acquired business will be named Ciserv Denmark and it will concentrate on service for propulsion systems and engine repair.
The closing of the deal will take place in the latter part of the current year 2002.

The acquisition will consist of the laser measuring and alignment business. It also includes vibration measuring, analysis and services of monitoring systems and engine repair.

The method developed by JMC Marine both simplifies and speeds up the processes of measuring and correcting adjustment failures, as it does not require docking of the ship or dismounting the shaft.

Wärtsilä Corporation is the leading global ship power supplier and a major provider of solutions for decentralized power generation and of supporting services. In addition Wärtsilä operates a Nordic engineering steel company Imatra Steel.

For further information, please call:
Mr Tage Blomberg, Group Vice President, Service, Wärtsilä Corporation, tel. +358 10 709 2425.