Wärtsilä expands in Panama with new offices a...

Wärtsilä Corporation, Press release, 22 June 2010

Wärtsilä, a leading provider of power plant and ship power solutions and
services, today opened new offices and a workshop in Panama. Located in the
International Business Park of Panama Pacifico, the new facilities are intended
to meet growing market demand from customers in the area. The new workshop
enables Wärtsilä to offer a wide range of services for engines, electrical and
automation systems, propellers and thrusters, and to provide reconditioning
services.

"Panama's strategic importance as one of Latin America's largest logistics
centres and as a major area for ship servicing will grow in importance along
with the expansion of the Panama Canal," says Markku Aspholm, General Manager,
Wärtsilä in Panama. "We see this as an excellent opportunity to offer
maintenance and spare part services to vessels waiting for access to the canal.
For ship owners, considerable downtime can be avoided through arranging
maintenance operations while their vessels are queuing."

Each year, some 15,000 vessels pass through the 80-kilometre canal linking the
Atlantic and Pacific oceans. By investing in new machinery, Wärtsilä has been
able to extend its range of workshop service offerings to customers to include
maintenance of two-stroke components, propulsion unit services, electrical and
automation services, and reconditioning services. The metallurgical repair of
propellers is another important service segment now being offered.

"For Panama, the expansion in service business means increased job opportunities
and a better image, and we are proud to be part of that development," says
Aspholm.


Large modern facilities

The new International Business Park in Panama Pacifico is being developed into a
26-hectare industrial and logistics park with corporate offices, call centres
and facilities for distribution and light assembly companies. Hotels and the
on-site airport provide travellers with easy access. As Panama Pacifico is a
special economic area, certain industries benefit from special labour, legal,
customs, immigration and tax incentives.

Wärtsilä's newly constructed facilities consist of offices covering 440 square
metres and 1500 square metres of workshop space, a five-fold increase over
existing arrangements. The range of services offered will be extended and the
staff will be increased through the recruitment of 12 new employees. These new
recruits will receive orientation training at the Wärtsilä Land and Sea Academy.
The company will employ 45 professionals in Panama by the end of 2010.

Operations at Wärtsilä in Panama include customer support, workshop and field
services and the warehousing of selected components for engine and propulsion
systems. Key customers for the company include international shipping lines
whose vessels pass through the canal and visit its ports and shipyards.


A strategic location with increasing importance

Panama's strategic importance in Latin America has grown in recent years. The
expansion work to the Panama Canal currently being carried out will double the
canal's capacity by 2014. The new lock chambers will be 427 metres long, 55
metres wide and 18.3 metres deep, allowing the transit of vessels with a beam of
49 metres, an overall length of 366 metres and a draught of 15 metres. The
growing number of vessels passing through the canal will increase the need for
maintenance services, while the Special Economic Area will make the importation
of spare parts quick and easy.

Wärtsilä has been operating in Panama since 2007. In Central America, the
installed capacity of Wärtsilä power plants totals 1600 MW as well as one power
plant with a capacity of 96 MW. In Panama, Wärtsilä's installed capacity
includes ship power on 12 vessels.


Media contact:
Ms Marit Holmlund-Sund
Senior Manager, PR and Marketing Communications
Wärtsilä Corporation
Direct tel: [phone]
Direct fax: [phone]
e-mail:[e-mail]
Internet:www.wartsila.com


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 2009, Wärtsilä's net sales totalled EUR 5.3 billion with more than 18,000
employees. The company has operations in 160 locations in 70 countries around
the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.

www.wartsila.com



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