Wärtsilä enters new service category - acquir...

Wärtsilä Corporation, Press release, 24 April 2008, at 16.15 EET
 
Wärtsilä has acquired the Danish company International Combustion
Engineering A/S (I.C.E.). I.C.E. specializes in project engineering
and the service and repair of steam boilers and ancillary burner
systems. The company has its headquarters in Aalborg, Denmark.
 
The acquisition of I.C.E. will expand Wärtsilä's service offering
into the new category of boiler services. This new service category
will further improve Wärtsilä's competitiveness as a leading total
services provider.
 
I.C.E. has a strong market position, particularly with merchant
vessels, while its major customers are shipping companies around the
world. The company also has a trading division that supplies spare
parts for boiler and burner systems. Furthermore, I.C.E. has the
potential for strong global growth, and for expansion into segments
such as offshore, cruise & ferry and special vessels, as well as to
non-marine related industrial and land based power plant
applications.
 
The company's annual net sales amounted to 46,8 million Danish crowns
(EUR 6.3 million) in 2007. In Denmark, I.C.E. currently employs 30
full time people. I.C.E.'s businesses will be integrated into
Wärtsilä Services business in Denmark and all personnel will continue
as Wärtsilä employees. The value of the deal is not published.
 
"I.C.E.'s excellent know-how of boiler services is a very welcome
addition to Wärtsilä's service offering. The acquisition will further
expand Wärtsilä's competitiveness and position as the number one
global service provider", says Mr Tage Blomberg, Group Vice
President, Wärtsilä Services.
 
 
Further information
Tage Blomberg, Group Vice President, Wärtsilä Services,
tel. [phone]
Uffe Nyborg Johansen, President, Services, Wärtsilä Denmark,
tel. [phone]
Roland Pedersen, Managing Director, I.C.E. A/S, tel. [phone]
Atte Palomäki, Group  Vice President, Corporate Communications,
Wärtsilä Corporation, tel. [phone]
 
For more information about I.C.E., please visit: www.ice-denmark.com
 
Wärtsilä in brief
Wärtsilä enhances the business of its customers by providing them
with complete lifecycle power solutions. When creating better and
environmentally compatible technologies, Wärtsilä focuses on the
marine and energy markets with products and solutions as well as
services. Through innovative products and services, Wärtsilä sets out
to be the most valued business partner of all its customers. This is
achieved by the dedication of 17,000 professionals manning 160
Wärtsilä locations in 70 countries around the world. Wärtsilä is
listed on The Nordic Exchange in Helsinki, Finland.
www.wartsila.com
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