Wärtsilä to divest its Drives products and associated manufacturing
(Thomson Reuters ONE) -
Wärtsilä Corporation, Press release, 23 September 2016 at 10 am EET
Wärtsilä has agreed to divest its power drives business to Finland based The
Switch. The divestment will encompass Wärtsilä's Medium and Low Voltage power
drives specialised for marine applications. The assets include the company's
test centre and parts of its manufacturing facilities in Stord, Norway. This
business has earlier been a part of Wärtsilä's Electrical & Automation (E&A)
business line. Following the acquisition, the Switch will serve as one of the
supply chain partners to Wärtsilä's E&A business. The divestment is expected to
be completed latest in November this year.
The move will enable Wärtsilä's Norway E&A activities to be focused on its core
business of offering system level solutions. The Switch, a member of the
Japanese Yaskawa Group, specialises in advanced drive train technology for
renewable energy and special industry applications. The products involved will
continue to be an important part of Wärtsilä's E&A offering, since they are
optimised for marine applications and are proven elements within Wärtsilä
systems. Wärtsilä will retain its expertise in application know-how and
engineering and will continue to emphasise full system solutions such as the so
called Low Loss Concept and hybrid solutions.
Media contacts:
Mr Peter Rogers
Director Power Conversion
Wärtsilä SAM Electronics GmbH
Tel: +49 4088 250
peter.rogers(at)wartsila.com
Ms Marit Holmlund-Sund
Senior Manager Marketing, Communications, Marine Solutions
Wärtsilä Corporation
Tel: +358 10 709 1439
marit.holmlund-sund(at)wartsila.com
Wärtsilä in brief:
Wärtsilä is a global leader in advanced technologies and complete lifecycle
solutions for the marine and energy markets. By emphasising sustainable
innovation and total efficiency, Wärtsilä maximises the environmental and
economic performance of the vessels and power plants of its customers.
In 2015, Wärtsilä's net sales totalled EUR 5 billion with approximately 18,800
employees. The company has operations in over 200 locations in more than 70
countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wärtsilä Oyj Abp via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 23.09.2016 - 09:00 Uhr
Sprache: Deutsch
News-ID 496610
Anzahl Zeichen: 2859
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Wärtsilä to divest its Drives products and associated manufacturing"
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Wärtsilä Oyj Abp (Nachricht senden)
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