Finland´s marine technology firm Wärtsilä has announced plans to further streamline its marine business portfolio by divesting its gas solutions business unit.
Gas Solutions is a provider of gas processing systems.
The company said the business unit has limited synergies with the rest of Wärtsilä’s marine product portfolio.
Therefore, Wärtsilä plans to move gas solutions to the Portfolio Business in preparation for a divestment. The net sales of gas solutions was €293m in the 12-month period between Q4 2022 and Q3 2023.
Wärtsilä plans to move its exhaust treatment and shaft line solutions business units from Wärtsilä Marine Systems to Wärtsilä Marine Power as of January 1, 2024 to simplify the organisational structure.
Wärtsilä Marine Systems will no longer constitute an organisational unit or a reporting segment.
According to the plans, Wärtsilä Marine Power will change its name to Wärtsilä Marine as of January 1, 2024.
It will be led by Roger Holm, currently president, marine power and executive vice president.
Tamara de Gruyter will continue as executive vice President and member of the Wärtsilä board of management, focusing on the divestments of the Portfolio Businesses.
Following these planned changes, Wärtsilä will have two reporting segments – Marine and Energy.
