Strategic projects, joint ventures and expansion of the network
The acquisition of L-3 Marine Systems International from NYSE-listed L-3 Communications Holdings Inc. is proceeding according to plan. The acquisition received Korean merger control clearance in March and EU clearance in April. After completion of certain administrative procedures to separate the acquired entities from the L-3 Group, the acquisition is expected to be closed during the second quarter of 2015.
Wärtsilä’s new fully-owned manufacturing facility at Porto do Açu in São João da Barra, Brazil was inaugurated in March. The multi-product factory will initially be used for the production, assembly and testing of generating sets and steerable thrusters.
Construction of the CSSC Wärtsilä Engine (Shanghai) Co. Ltd factory in Lingang, Shanghai is proceeding according to plan. The first engines are expected to be ready for delivery in the first half of 2016.
The agreement between Wärtsilä and China State Shipbuilding Corporation (CSSC) for the take-over of Wärtsilä’s 2-stroke engine business was finalised in January. Winterthur Gas & Diesel Ltd is owned 70% by CSSC and 30% by Wärtsilä.