Wärtsilä on acquisition trail

Wärtsilä Corporation has acquired the entire business of Total Automation Ltd, a Singapore-based public marine automation company, and all Total Automation’s shares in its subsidiaries at a price of approximately EUR 61.6 million. Total Automation had sales of EUR 38.5 million in 2004 and has consistently generated EBIT margins in excess of 15%. The company employs over 400 people and has facilities in Singapore, Dubai, France, the UK and China

“The transaction strongly supports Wärtsilä’s strategy to expand our Ship Power and Service businesses by broadening our global service offering”, says Ole Johansson, President and CEO. “It will bring substantial electrical and automation capabilities to Wärtsilä, an organisation with a very strong track record, and further strengthen our position especially in the Far and the Middle East.

In addition to general marine automation, Total Automation has a strong foothold within the offshore and LNG sectors. The company focuses on refit projects and service work. The customers are multinational companies, shipyards and ship owners.

The transaction complements Wärtsilä’s earlier electrical and automation acquisitions in Europe and North America. It enables Wärtsilä to provide a comprehensive automation and electrical offering, strengthening Wärtsilä’s position as a total service provider.