Wärtsilä
Finnish energy and marine technology company / From Wikipedia, the free encyclopedia
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Wärtsilä Oyj Abp (Finnish: [ˈʋærtsilæ]), trading internationally as Wärtsilä Corporation, is a Finnish company which manufactures and services power sources and other equipment in the marine and energy markets. The core products of Wärtsilä include technologies for the energy sector, including gas, multi-fuel, liquid fuel and biofuel power plants and energy storage systems;[2] and technologies for the marine sector, including cruise ships, ferries, fishing vessels, merchant ships, navy ships, special vessels, tugs, yachts and offshore vessels. Ship design capabilities include ferries, tugs, and vessels for the fishing, merchant, offshore and special segments.[3] Services offerings include online services, underwater services, turbocharger services, and also services for the marine, energy, and oil and gas markets.[4] At the end of December 2022, the company employed 17,500 workers.[5]
Native name | Wärtsilä Oyj Abp |
---|---|
Company type | Public (Julkinen osakeyhtiö) |
Nasdaq Helsinki: WRT1V | |
Industry | Manufacturing and service |
Founded | 12 April 1834; 190 years ago (1834-04-12) |
Headquarters | Helsinki, Finland |
Key people | |
Products | Power plants, marine propulsion systems, maintenance services |
Revenue | €5.842 billion (2022)[1] |
−€26 million (2022)[1] | |
−€32 million (2022)[1] | |
Total assets | €6.606 billion (2022)[1] |
Total equity | €2.135 billion (2022)[1] |
Number of employees | 17,500 (2022 average)[1] |
Website | www |
Wärtsilä has two main businesses; Energy Business focusing on the energy market, and Marine Business focusing on the marine market. The Marine Business is mainly present in Europe, China and East Asia, while its key Energy Business markets are South and South East Asia, the Middle East, Africa and Latin America. Wärtsilä has locations in around 80 countries, including the US, Brazil, Finland, Germany, South Africa, Singapore and China, but operates globally.[6]
The company has signalled its intention to transform from an equipment maker to a smart marine and energy company, following acquisitions of companies such as Transas, Greensmith, Guidance Marine, and MSI, and the setting-up of "digital acceleration centres" in Helsinki, Singapore, Central Europe, and North America.
In 2023, Time named Wärtsilä one of the 100 most influential companies in the world.[7]