Wärtsilä announces plans to divest Gas Solutions unit
Finnish technology company Wärtsilä has announced plans to divest its Gas Solutions business unit, alongside plans to consolidate the Exhaust Treatment and Shaft Line Solutions business lines within its Marine Power division, with effect from January 2023.
Wärtsilä has announced that it plans to move its Gas Solutions unit to the Portfolio Business in preparation for a divestment. While the Gas Solutions unit enjoys a strong position in the gas processing systems sector, and reported net sales of EUR293 million in the financial year ending Q3 2023, Wärtsilä noted the business unit has “limited synergies with the rest of the marine product portfolio”.
The changes mean that Wärtsilä Marine Systems will no longer constitute an organisational unit or a reporting segment. The organisational changes will include renaming Wärtsilä Marine Power to Wärtsilä Marine from 1 January, 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.
The Motorship notes that Wärtsilä Marine Systems was formed when Wärtsilä separated its Marine Business into three independent businesses in 2020. Initially consisting of gas solutions, exhaust treatment, marine electrical systems, as well as shaft line solutions, the Marine Electrical Systems unit was moved to the Portfolio Business division in February 2023.