Wärtsilä has decided to reorganise its Marine Business into three independent businesses: Marine Power, Marine Systems and Marine Voyage. The objective of this change is to accelerate strategy execution, simplify the business structure, and strengthen business presence in the Board of Management.
The new businesses will be operational as of 1 July 2020. The restructuring is said to be a continuation to the changes made in 2019, whereby the equipment and service businesses were integrated to strengthen the focus on complete lifecycle solutions.
Three marine businesses
In the new operational model, 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. Wärtsilä’s Energy Business will continue in its current form.
‘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,’ says Jaakko Eskola, President & CEO of Wärtsilä Corporation. ‘Our customers will benefit from increased agility and speed in decision-making, as well as an even more empowered and effective frontline.’
