Wärtsilä Ship Power’s organisational adjustment proceeds - formal processes have ended in Finland and certain other countries

Wärtsilä Corporation, Stock exchange release 25 June 2009 at 13:00 UTC+2

The Ship Power business of Wärtsilä Corporation has finished the formal process in Finland and in some other countries, aimed at realigning its organisation and resources. The negotiations were initiated at Ship Power to adjust to the substantially weakened global marine market situation.

In Finland, the co-operation negotiations, which ended today, result in the reduction of 77 jobs. The major part of these job reductions will be implemented by internal job transfers within the company and by the expiration of temporary employment contracts. The result of the negotiations is that 28 Ship Power’s employees in Finland are under the threat of being made redundant.

Similar negotiations in several other countries have also come to an end. In the remaining countries, the adjustment process is proceeding as planned.

Wärtsilä Ship Power announced on 14 May that it had initiated the formal process to reduce 400-450 jobs, of which approximately 80 are in Finland. The process affects all of Wärtsilä Ship Power’s some 1300 employees in all functions globally.

Wärtsilä Ship Power has employees within sales, project management, engineering services and ship design in 30 countries. In all, Wärtsilä Corporation has 19,000 employees. Wärtsilä has three businesses; Ship Power, Services, and Power Plants.

Wärtsilä reiterates that the annual savings of these measures will be approximately EUR 30 million. The effect of the savings will start to materialize gradually from the second part of 2009, and will take full effect by the end of 2010.

For further information, please contact:

Mr Jaakko Eskola
Group Vice President
Wärtsilä Ship Power
Tel: +358-107095626

For investor information, please contact:

Mr Raimo Lind
Group Vice President, CFO
Wärtsilä Corporation
Tel: +358-107095640

Media contact:

Tuula Franck
Senior Manager, External Communications
Wärtsilä Corporation
Tel: +358-400267555

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.