Wärtsilä to reorganize marine business

Wärtsilä says it has decided to reorganize its marine business into three independent businesses: Marine Power, Marine Systems and Marine Voyage. They will be operational as of July 1, 2020.

Marine Power will focus on Wärtsilä engine and propulsion solutions. Marine Systems’ offering will consist of gas solutions, exhaust treatment, marine electrical systems, as well as seals and bearings. Marine Voyage will provide navigation solutions, simulation and training solutions, fleet operation solutions, and ship traffic control solutions. Each business will have lifecycle responsibility for its offerings.

Wärtsilä’s Energy Business will continue in its current form.

“Wärtsilä is committed to leading the way towards a more sustainable maritime future,” says Jaakko Eskola, President & CEO of Wärtsilä Corporation. “We have today the broadest offering for the marine markets, and I am confident that establishing three independent marine entities, with a stronger focus on the specific needs of their respective markets, will accelerate the execution of our Smart Marine strategy. Our customers will benefit from increased agility and speed in decision-making, as well as an even more empowered and effective frontline.”

Wärtsilä’s financial reporting will be adjusted to reflect the new organisational structure as of the second quarter of 2020. Adjusted comparison figures will be provided prior to the publication of the half year financial report January-June 2020.