Title XI Funding
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Marine Log

May 18, 2007

Wartsila to acquire U.K. bearing technology business

Wartsila has signed an agreement to acquire the marine business of Railko Ltd., a U.K. specialist in synthetic stern tube bearing technology.

The company was founded 1957 and is today owned by Tenmat Ltd. The marine sector of Railko and Wartsila have maintained a relationship for the past 30 years, and have together developed specific materials for face seals.

"Shipowners are increasingly paying attention to the environmental impacts of shipping. Stern tube seals and bearings are among the most critical components in ships. By acquiring the marine business of Railko, Wartsila will improve its competitive position in oil-lubricated bearing systems. In addition, by adding water-lubricated bearings to its portfolio Wartsila obtains a unique position as the only global total solution provider in water-lubricated stern tube systems," says Jaakko Eskola, Group Vice President and Head of the Ship Power business.

The deal is planned to close in the third quarter of 2007.