Wärtsilä
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Wärtsilä Headquarters headquarters in Helsinki
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| Public | |
| Traded as | Nasdaq Helsinki: WRT1V |
| Industry | Manufacturing and service |
| Founded | 12 April 1834 |
| Headquarters | Helsinki, Finland |
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Key people
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Mikael Lilius (Chairman), Jaakko Eskola (President and CEO) |
| Products | Power plants, marine propulsion systems, maintenance services |
| Revenue |
 €5.029 billion (2015)
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€587 million (2015)
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| Profit |
€451 million (2015)
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| Total assets |
€5.589 billion (2015)
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| Total equity |
€2.201 billion (2015)
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Number of employees
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18,565 (2015 average)
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| Website | www.wartsila.com |
Wärtsilä /ˈværtsilæ/ is a Finnish corporation which manufactures and services power sources and other equipment in the marine and energy markets. The core products of Wärtsilä include large combustion engines used in cruise ships and ferries. As of 2015 the company employed more than 18,000 workers in over 70 countries.
Wärtsilä has three main businesses; Energy Solutions focusing on the energy market, Marine Solutions focusing on the marine market and Services which is supporting both markets. Wärtsilä operates globally but its Marine Solutions division is heavily focused on Asia.
In a market anticipated move, Wartsila have made an initial bid, 1st Feb 2017, for EnQuest PLC, the oil and gas development and production company, with a market capitalisation of approx. £500m. Wartsila are continuing with their strategy of acquiring companies who are struggling with senior management problems. Wartsila look to increase their capacity and moving to a position of dominance in the North Sea oil and gas sector.
The company is headquartered in Helsinki.
The company services the merchant, offshore, cruise and ferry, naval, and special vessel markets, and the offering includes ship design, main and auxiliary engines, auxiliary power systems, electrical and automation packages, propulsors (such as water jets, thrusters, propellers, and nozzles), seals, bearings, gears, rudders, scrubbers, boilers, and all related services, such as repair, configuration, upgrading, training, maintenance, and environmental services. Wärtsilä’s biggest competitors in the marine market are MAN Diesel & Turbo, Caterpillar Inc. and Rolls-Royce plc.
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