The combination of Wärtsilä's and Cedervall's businesses will create the market leader for oil and water lubricated seals and bearings, as well as for sterntubes.
Cedervall's key products are sterntube and bulkhead seals, sterntubes and sterntube bearings, intermediate shaft bearings, and propulsion rudders and nozzles. The company employs 211 people. Its manufacturing facilities are located in Gothenburg, Sweden, in Zhangjiagang,China, and in Vigo and Porrino, Spain.
"Cedervall's oil and water lubricated seals and bearings, and sterntubes optimally complete the range of products and services in Wärtsilä's seals and bearings portfolio. Furthermore, Cedervall's excellent know-how and expertise will further enhance our competitiveness. Now having all products in the propulsion line in-house, this acquisition strengthens our total propulsion solutions", says Christoph Vitzthum, Group Vice President, Wärtsilä Services.
Cedervall will be integrated into Wärtsilä Corporation. All employees will continue as Wärtsilä employees after the acquisition, including the current owners Anders Lundgren and Henric Lundgren. The value of the transaction has not been disclosed.å
"For Cedervall, this deal offers an outstanding opportunity to develop and grow the business, in a way that meets the needs of global customers. We could have continued alone, but being a part of Wärtsilä, the leading equipment and after sales services provider with a truly global presence, has clear benefits", says Anders Lundgren, Managing Director, Cedervall.
The acquisition is subject to relevant regulatory approvals, which are expected during the third quarter of 2011.
July 13, 2011