Wartsila to acquire ship design firm
Wartsila, a Finnish company that makes diesel engines for many of the world’s ships, said it would acquire the ship design group Vik-Sandvik.
Wartsila said the 132 million-euro ($209.5 million) acquisition of the Norwegian company is a major step in a strategy to strengthen its position as “a total solutions provider.”
“The role of ship design is becoming more and more important due to higher performance requirements, more sophisticated systems, and increased integration onboard most vessels,” the company said in a statement. “Also, the environmental and emission regulations regarding NOx and CO2 are becoming increasingly stringent. Through this acquisition, Wartsila can offer competitive solutions that will lead to better total efficiency, improved environmental performance, and reduced life cycle costs for its customers.”
“From a strategic point of view, the acquisition of Vik-Sandvik is a very important step for Wartsila as it brings us closer to our customers, both ship owners and shipyards. We can now enter into dialog with them at an earlier stage, when the key specifications of a vessel are decided, and this will result in us being able to offer more competitive solutions,” said Jaakko Eskola, group vice president of Wartsila Ship Power.
The acquisition is subject to relevant regulatory approvals, which are expected during the third quarter.
Wartsila to acquire ship design firm
