Wärtsilä streamlines marine business, plans divestment of Gas Solutions unit By Investing.com

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Wärtsilä streamlines marine business, plans divestment of Gas Solutions unit By Investing.com


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Finnish technology group Wärtsilä is set to divest its Gas Solutions unit and restructure its marine business, marking significant changes in the company’s operational structure. The gas processing systems provider, which recorded net sales of EUR 293 million from Q4 2022 to Q3 2023, will be moved to the Portfolio Business for divestment due to its limited alignment with the broader marine product portfolio.

The restructuring process will also see the Exhaust Treatment and Shaft Line Solutions units being transferred from Wärtsilä Marine Systems to Wärtsilä Marine Power by January 1, 2024. This move will dissolve Wärtsilä Marine Systems as an independent organizational unit.

Following these changes, Wärtsilä Marine Power will be rebranded as Wärtsilä Marine starting January 1, 2024. This phase-out and rebranding process will be overseen by Roger Holm. The revamped structure will leave only two reporting segments: Marine and Energy, effectively marking the end of Wärtsilä Marine Systems as a separate reporting segment.

The changes in the company’s structure will be reflected in its financial reports from Q1 2024 onwards. Wärtsilä, a frontrunner in sustainable technologies for marine and energy sectors, operates in over 240 global locations and employs 17,500 professionals across 79 countries. In 2022, the company reported €5.8 billion in net sales.

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