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Wärtsilä

#1431

Rank

$11.64B

MarketCap FI

FI Finland

Country

Summary
Wärtsilä Oyj Abp provides technologies and lifecycle solutions for the marine and energy markets worldwide. The company's marine power portfolio includes engines, propulsion systems, hybrid technology, and integrated powertrain systems; marine systems comprising products and lifecycle services related to the gas value chain, exhaust treatment, shaft line, underwater repair, and electrical integrations; voyage solutions consists of bridge infrastructure, cloud data services, decision support systems, and smart port solutions to enable shore-to-shore visibility, as well as builds end-to-end connected digital ecosystem for shipping; and decarbonization energy services include future-fuel enabled balancing power plants, hybrid solutions, energy storage, and optimization technology, such as the GEMS energy management platform. It provides power and propulsion products, such as electrical and power systems, engines and generating sets, propulsors and gears, and shaft line solutions; gas, ballast water management, freshwater generation, waste and wastewater treatment, and exhaust treatment solutions; and voyage and fleet optimization services comprising autonomy, simulation and training, fleet optimization and safety, integrated vessel control systems, port and traffic management, and dynamic positioning services. The company also offers spare parts and field services, technical support, maintenance and repair services, lifecycle upgrades and solutions, and training services. In addition, it provides products and solutions for energy storage, and engine and hybrid power plants. The company serves merchant vessels, gas carriers, cruise and ferry, navy, and special vessels segments; offshore installations and related industry vessels and land-based gas installations; and ship owners, shipyards, and ship management companies. Wärtsilä Oyj Abp was founded in 1834 and is headquartered in Helsinki, Finland.

History

Origins

Wärtsilä was established when the governor of the county of North Karelia approved the construction of a sawmill in the municipality of Tohmajärvi, Grand Duchy of Finland on 12 April 1834. The sawmill was soon taken over by industrialist Nils Ludvig Arppe, who built ironworks in the premises. In 1898 the company was renamed Wärtsilä Ab.

Diesel engines

In 1938 the diesel engine era began when Wärtsilä signed a licence agreement with Friedrich Krupp Germania Werft AG in Germany. The first diesel engine was produced in Turku, Finland in November 1942. During the following decades more focus was put on manufacturing diesel and gas engines with the acquisitions of the Swedish firm NOHAB in 1978, the French Société Alsacienne de Constructions Mécaniques , and the Dutch Stork-Werkspoor in 1989.

In 1997 Wärtsilä absorbed the diesel motor producing New Sulzer Diesel , which had been created by Sulzer in 1990.

Hybrid engines

In 2020, Wärtsilä made plans to supply hybrid engine solutions for Finnlines.

Expanding portfolio

Through acquisitions of marine propulsion systems supplier John Crane-Lips in 2002, marine automation company Total Automation in 2006, specialist equipment company Hamworthy in 2012 and L-3 Marine Systems International in 2014, Wärtsilä expanded their portfolio considerably.


Mission
Our mission is to enable sustainable societies with smart technologies, thus creating the foundation for our customers’ success.

Vision
Our vision is to be the global leader in smart technologies and complete lifecycle solutions.

Key Team

Mr. Roger Holm MSc (Econ.) (Pres of Marine Power, Exec. VP & Member of the Board of Management)

Mr. Sean P. Fernback (Pres of Wartsila Voyage, Exec. VP & Member of Board of Management)

Mr. Atte Palomaki M.Sc. (pol.) (Exec. VP of Communications, Branding & Marketing and Member of Board of Management)

Ms. Tamara De Gruyter (Pres of Wartsila Marine Systems, EVP, Head of Portfolio Bus. & Member of Management Board)

Mr. Tuomas Salosaari (Chief Information Officer)

Ms. Emilia Rantala (Mang. of Investor Relations)

Ms. Teija Sarajarvi M.A, M.A. (Exec. VP of HR & Member of Management Board)


Recognition and Awards
Wärtsilä has earned numerous awards and accolades including the 2020 “Societal Challenge Award” from the Academy of Finland, and the 2020 “Growth Company of the Year” award from Finland’s Business Weekly.

References
Wärtsilä
Leadership team

Mr. Hakan Agnevall M.B.A., M.Sc. (Pres, CEO & Member of Management Board)

Mr. Arjen Berends M.B.A. (CFO, Exec. VP & Member of the Board of Management)

Mr. Kari Hietanen L.L.M., LLM (Exec. VP of Corp. Relations & Legal Affairs, Sec. and Member of Board of Management)

Products/ Services
Analytics, Electronics, Energy, Information Technology, Machinery Manufacturing, Marine Technology, Renewable Energy
Number of Employees
1,000 - 20,000
Headquarters
Helsinki, Southern Finland, Finland
Established
1834
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
WRT1V.HE
Social Media
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