Wärtsilä Oyj Abp (), trading internationally as Wärtsilä Corporation, is a Finnish company which manufactures and services power sources and other equipment in the

marine Marine is an adjective meaning of or pertaining to the sea or ocean. Marine or marines may refer to: Ocean * Maritime (disambiguation) * Marine art * Marine biology * Marine debris * Marine habitats * Marine life * Marine pollution Military * ...

and

energy In physics, energy (from Ancient Greek: ἐνέργεια, ''enérgeia'', “activity”) is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of heat a ...

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 Energy storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production. A device that stores energy is generally called an accumulator or battery. Energy comes in ...

systems; 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. Services offerings include online services, underwater services, turbocharger services, and also services for the marine, energy, and oil and gas markets. At the end of June 2018, the company employed more than 19,000 workers. 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 but operates globally. 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.

History

Origins

Wärtsilä was established when the governor of the county of North Karelia approved the construction of a sawmill in the municipality of

Tohmajärvi Tohmajärvi () is a municipality of Finland. It is located in the North Karelia region. The municipality has a population of () and covers an area of of which is water. The population density is . The municipality is unilingually Finnish. Neig ...

, Grand Duchy of Finland on 12 April 1834. The sawmill was soon taken over by industrialist

Nils Ludvig Arppe Nils Ludvig Arppe (19 December 1804 — 9 December 1861) was a Finnish industrialist. Arppe studied jurisprudence but returned in his home area leading a sawmill together with his brother-in-law Johan Fabritius. Eventually he owned many sawmills ...

, who built ironworks in the premises. In 1898 the company was renamed Wärtsilä Ab.

Diesel engines

In 1938 the diesel engine era began when Wärtsilä signed a licence agreement with Friedrich Krupp Germania Werft AG in Germany. The first diesel engine was produced in

Turku Turku ( ; ; sv, Åbo, ) is a city and former capital on the southwest coast of Finland at the mouth of the Aura River, in the region of Finland Proper (''Varsinais-Suomi'') and the former Turku and Pori Province (''Turun ja Porin lääni''; ...

Finland Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of B ...

in November 1942. During the following decades more focus was put on manufacturing diesel and gas engines with the acquisitions of the Swedish firm NOHAB in 1978, the French

Société Alsacienne de Constructions Mécaniques The Société Alsacienne de Constructions Mécaniques (the Alsatian Corporation of Mechanical Engineering), or SACM, is an engineering company with its headquarters in Mulhouse, Alsace, which produced railway locomotives, textile and printing machi ...

(SACM), and the Dutch Stork-Werkspoor in 1989. In 1997 Wärtsilä absorbed the diesel motor producing New Sulzer Diesel (NSD), which had been created by Sulzer in 1990.

Hybrid engines

In 2020, Wärtsilä made plans to supply hybrid engine solutions for

Finnlines Finnlines Plc ( fi, Finnlines Oyj, sv, Finnlines Abp) is a shipping operator of ro-ro and passenger services in the Baltic Sea and the North Sea. It is a subsidiary of the Grimaldi Group. Finnlines’ sea transports are concentrated in the Bal ...

Expanding portfolio

Through acquisitions of marine propulsion systems supplier John Crane-Lips in 2002, marine automation company Total Automation in 2006, specialist equipment company Hamworthy in 2012 and L-3 Marine Systems International in 2014, Wärtsilä expanded their portfolio considerably.

Marine market

The company services the merchant, offshore, cruise and ferry, naval, fishing, tugs, yachts and special vessel markets, and the offering includes ship design, main and auxiliary engines, auxiliary power systems, electrical and automation packages,

propulsor {{short description, Mechanical device to propel a vessel A propulsor is a mechanical device that gives propulsion. The word is commonly used in the marine vernacular, and implies a mechanical assembly that is more complicated than a propeller. Th ...

s (such as water jets, thrusters,

propeller A propeller (colloquially often called a screw if on a ship or an airscrew if on an aircraft) is a device with a rotating hub and radiating blades that are set at a pitch to form a helical spiral which, when rotated, exerts linear thrust upon ...

s, and

nozzle A nozzle is a device designed to control the direction or characteristics of a fluid flow (specially to increase velocity) as it exits (or enters) an enclosed chamber or pipe. A nozzle is often a pipe or tube of varying cross sectional area, a ...

s),

seals Seals may refer to: * Pinniped, a diverse group of semi-aquatic marine mammals, many of which are commonly called seals, particularly: ** Earless seal, or "true seal" ** Fur seal * Seal (emblem), a device to impress an emblem, used as a means of a ...

, bearings,

gear A gear is a rotating circular machine part having cut teeth or, in the case of a cogwheel or gearwheel, inserted teeth (called ''cogs''), which mesh with another (compatible) toothed part to transmit (convert) torque and speed. The basic pr ...

rudder A rudder is a primary control surface used to steer a ship, boat, submarine, hovercraft, aircraft, or other vehicle that moves through a fluid medium (generally aircraft, air or watercraft, water). On an aircraft the rudder is used primarily to ...

scrubber Scrubber systems (e.g. chemical scrubbers, gas scrubbers) are a diverse group of air pollution control devices that can be used to remove some particulates and/or gases from industrial exhaust streams. An early application of a carbon dioxide scr ...

boiler A boiler is a closed vessel in which fluid (generally water) is heated. The fluid does not necessarily boil. The heated or vaporized fluid exits the boiler for use in various processes or heating applications, including water heating, central h ...

s, and all related services, such as repair, configuration, upgrading, training, maintenance, and environmental services. Customers comprise both

shipyards A shipyard, also called a dockyard or boatyard, is a place where ships are built and repaired. These can be yachts, military vessels, cruise liners or other cargo or passenger ships. Dockyards are sometimes more associated with maintenance a ...

and

ship owners A ship is a large watercraft that travels the world's oceans and other sufficiently deep waterways, carrying cargo or passengers, or in support of specialized missions, such as defense, research, and fishing. Ships are generally distinguished ...

. The environmental products range from reduction of air emissions, such as

NOx In atmospheric chemistry, is shorthand for nitric oxide () and nitrogen dioxide (), the nitrogen oxides that are most relevant for air pollution. These gases contribute to the formation of smog and acid rain, as well as affecting tropos ...

SOx Sox most often refers to: * Boston Red Sox, an MLB team * Chicago White Sox, an MLB team * An alternate spelling of socks Sox may also refer to: Places * SOX, Sogamoso Airport's IATA airport code, an airport in Colombia Computing and technolo ...

, CO, and

volatile organic compound Volatile organic compounds (VOCs) are organic compounds that have a high vapour pressure at room temperature. High vapor pressure correlates with a low boiling point, which relates to the number of the sample's molecules in the surrounding air, a ...

s (VOCs), to oily waste water treatment and other water systems such as ballast water management systems. Wärtsilä Marine was an important Finnish shipbuilder from 1935 until 1989, building

cruiseferries A cruiseferry is a ship that combines the features of a cruise ship and a Ro-Pax ferry. Many passengers travel with the ships for the cruise experience, staying only a few hours at the destination port or not leaving the ship at all, while ot ...

, cruise ships and a large share of the icebreakers of the world. The former Wärtsilä Marine Turku Shipyard is now owned by Meyer Werft under its

Meyer Turku Meyer Turku Oy is a Finnish shipbuilding company located in Turku, Finland Proper. The company is fully owned by German shipbuilder Meyer Werft GmbH. The main products are cruise ships and cruiseferries. The shipbuilding facility is Perno shipy ...

subsidiary and the

Helsinki shipyard Helsinki Shipyard Oy is a Finnish shipbuilding company based at Hietalahti shipyard in Helsinki, Finland. The company was established in 2019 to continue the shipbuilding activities of Arctech Helsinki Shipyard in Finland. History Helsinki S ...

is operated by Arctech.

Energy market

Wärtsilä is a provider of

power plant A power station, also referred to as a power plant and sometimes generating station or generating plant, is an industrial facility for the generation of electric power. Power stations are generally connected to an electrical grid. Many pow ...

s in distributed and flexible power generation. The product portfolio consists of installations up to 600 MW, running on any gaseous or liquid

fuel A fuel is any material that can be made to react with other substances so that it releases energy as thermal energy or to be used for work. The concept was originally applied solely to those materials capable of releasing chemical energy but ...

s, such as Heavy fuel oil,

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

, liquefied natural gas (LNG), different types and qualities of

fuel oil Fuel oil is any of various fractions obtained from the distillation of petroleum (crude oil). Such oils include distillates (the lighter fractions) and residues (the heavier fractions). Fuel oils include heavy fuel oil, marine fuel oil (MFO), bun ...

s, and renewable fuels like biogas and

biofuel Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. According to the United States Energy Information Administration (E ...

. In addition for the reliability of traditional base power generation, the engines have the capability to start and stop quickly and they maintain their efficiency in part load, which makes them well suited for peaking power production,

smart grid A smart grid is an electrical grid which includes a variety of operation and energy measures including: *Advanced metering infrastructure (of which smart meters are a generic name for any utility side device even if it is more capable e.g. a f ...

s, and emergency power systems. They can also utilize the

combined cycle A combined cycle power plant is an assembly of heat engines that work in tandem from the same source of heat, converting it into mechanical energy. On land, when used to make electricity the most common type is called a combined cycle gas turb ...

and

cogeneration Cogeneration or combined heat and power (CHP) is the use of a heat engine or power station to generate electricity and useful heat at the same time. Cogeneration is a more efficient use of fuel or heat, because otherwise- wasted heat from elect ...

to produce steam or hot water for heating, and

trigeneration Cogeneration or combined heat and power (CHP) is the use of a heat engine or power station to generate electricity and useful heat at the same time. Cogeneration is a more efficient use of fuel or heat, because otherwise- wasted heat from elect ...

for chilled water, which can be used for

air conditioning Air conditioning, often abbreviated as A/C or AC, is the process of removing heat from an enclosed space to achieve a more comfortable interior environment (sometimes referred to as 'comfort cooling') and in some cases also strictly controlling ...

. Wärtsilä also provides products and services for grid stability management, utilization of

gas flare A gas flare, alternatively known as a flare stack, flare boom, ground flare, or flare pit is a gas combustion device used in places such as petroleum refineries, chemical plants and natural gas processing plants, oil or gas extraction sites havin ...

s, pumping applications (such as pump and compression drives),

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

, and

project management Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. Th ...

services for projects concerning

power generation Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery ( transmission, distribution, etc.) to end users or its stor ...

. In May 2017, Wärtsilä signed an agreement to acquire Greensmith Energy Management Systems Inc. In March 2018, the company announced that it had delivered the world's largest solar hybrid power plant, situated in Burkina Faso. Wärtsilä provides about 25 percent of Bangladesh's total grid capacity, with the company's total power supply to Bangladesh rising to more than 4200 MW when a 105MW power plant being built by Baraka Shikalbaha Power Ltd goes fully operational in spring 2019. Wärtsilä's wide energy products and systems footprint includes the US, Germany, the UK, China, Russia, Singapore, Bangladesh, India, Indonesia, Myanmar, Senegal, the Dominican Republic, Australia, Saudi Arabia, Tanzania, Morocco, Argentina, Sierra Leone, Brazil, Finland, Mauritius, Rwanda, Honduras, El Salvador, Kazakhstan, Mexico, Jordan and Oman.

Services market

The wholly owned service network consist of over 4,500 field services professionals in more than 160 locations in over 70 countries globally, with the installed base of over 180 000 MW. The focus lies on optimising operations and life cycle performance of land based power plants and ship installations. Wärtsilä provides services, spare parts, maintenance, upgrades, and fuel conversions products for medium and low-speed gas and diesel engines and other related systems,

propulsion systems Propulsion is the generation of force by any combination of pushing or pulling to modify the translational motion of an object, which is typically a rigid body (or an articulated rigid body) but may also concern a fluid. The term is derived from ...

, electrical & automation systems,

boilers A boiler is a closed vessel in which fluid (generally water) is heated. The fluid does not necessarily boil. The heated or vaporized fluid exits the boiler for use in various processes or heating applications, including water heating, central h ...

including environmental solutions regarding

particulates Particulates – also known as atmospheric aerosol particles, atmospheric particulate matter, particulate matter (PM) or suspended particulate matter (SPM) – are microscopic particles of solid or liquid matter suspended in the air. The ter ...

and

, covering

selective catalytic reduction Selective catalytic reduction (SCR) is a means of converting nitrogen oxides, also referred to as with the aid of a catalyst into diatomic nitrogen (), and water (). A reductant, typically anhydrous ammonia (), aqueous ammonia (), or a urea () s ...

(SCRs), oxidation catalysts, ballast water treatment systems and oily-water systems, long-term service agreements, training, condition monitoring, and condition-based maintenance and advisory services. In January 2017, Wärtsilä and Carnival Corporation announced a 12-year performance-based agreement worth 900 million euros. Acquisitions in the Services business include Eniram in 2016, Trident B.V in 2017, and Lock-N-Stich. On 1 October 2018 Wärtsilä announced that it would reorganize into two business areas, incorporating the Services business into the existing Marine and Energy businesses.

Market share and competitors

At the end of 2021, Wärtsilä's market share in marine medium-speed main engines was 62% and in auxiliary engines 5%. At the end of 2021 Wärtsilä's market share for gas and liquid fuel power plants was 5%. Wärtsilä's biggest competitors in the marine market are

MAN Energy Solutions MAN Energy Solutions SE is a German multinational company based in Augsburg that produces large-bore gas and diesel engines and also turbomachinery for marine, rail and stationary applications, as locomotive and marine propulsion systems, power p ...

Caterpillar Inc. Caterpillar Inc. (stock symbol CAT) is an American ''Fortune'' 500 corporation and the world's largest construction-equipment manufacturer. In 2018, Caterpillar was ranked number 65 on the ''Fortune'' 500 list and number 238 on the Global ''Fo ...

and Kongsberg Gruppen. Key competitors in the energy market include

General Electric General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energ ...

Siemens Siemens AG ( ) is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad. The principal divisions of the corporation are ''Industry'', '' ...

Mitsubishi Heavy Industries is a Japanese multinational engineering, electrical equipment and electronics corporation headquartered in Tokyo, Japan. MHI is one of the core companies of the Mitsubishi Group and its automobile division is the predecessor of Mitsubishi Mo ...

and

Ansaldo Energia Ansaldo Energia S.p.A. is an Italian power engineering company. It is based in Genoa, Italy. The absorbed parent company, Gio. Ansaldo & C., started in 1853. It was taken over by Leonardo S.p.A. In 2011, Leonardo S.p.A. sold 45% stake in Ansa ...

. When it comes to energy storage systems, Wärtsilä's main competitors include Tesla, Inc and

Fluence Energy In radiometry, radiant exposure or fluence is the radiant energy ''received'' by a ''surface'' per unit area, or equivalently the irradiance of a ''surface,'' integrated over time of irradiation, and spectral exposure is the radiant exposure per ...

Engines

Wärtsilä produces a wide range of medium-speed

diesel Diesel may refer to: * Diesel engine, an internal combustion engine where ignition is caused by compression * Diesel fuel, a liquid fuel used in diesel engines * Diesel locomotive, a railway locomotive in which the prime mover is a diesel engin ...

gas Gas is one of the four fundamental states of matter (the others being solid, liquid, and plasma). A pure gas may be made up of individual atoms (e.g. a noble gas like neon), elemental molecules made from one type of atom (e.g. oxygen), or ...

and dual- and multi-fuel engines for marine propulsion,

electricity generation Electricity generation is the process of generating electric power from sources of primary energy. For electric utility, utilities in the electric power industry, it is the stage prior to its Electricity delivery, delivery (Electric power transmi ...

on board ships and for land-based

power station A power station, also referred to as a power plant and sometimes generating station or generating plant, is an industrial facility for the generation of electric power. Power stations are generally connected to an electrical grid. Many p ...

s. A joint venture agreement between Wärtsilä and China State Shipbuilding Corporation (CSSC) for the take-over of Wärtsilä's 2-stroke engine business was announced in July 2014 and finalized in January 2015. The engine models are generally identified by the cylinder bore diameter in centimeters, which range from for medium-speed and for low-speed engines. The smallest engine series, four-stroke medium-speed Wärtsilä 20, produces a modest per cylinder while the largest, two-stroke low-speed

Wärtsilä RT-flex96C Wärtsilä Oyj Abp (), 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 technolo ...

, has a maximum output of per cylinder. In addition, Wärtsilä also produces the most powerful medium-speed engine series in the world, Wärtsilä 64, with an output of per cylinder. Depending on the engine model, Wärtsilä offers medium-speed engines in both straight and V configurations with the number of cylinders ranging from

four 4 (four) is a number, numeral and digit. It is the natural number following 3 and preceding 5. It is the smallest semiprime and composite number, and is considered unlucky in many East Asian cultures. In mathematics Four is the smallest c ...

(4L20) to

twenty Twenty or 20 may refer to: * 20 (number), the natural number following 19 and preceding 21 * one of the years 20 BC, AD 20, 1920, 2020 Music Albums * ''20'' (2nd Chapter of Acts album), 1992 * ''20'' (Cunter album), 2011 * ''20'' (Dr ...

(20V46F), and low-speed engines in inline configuration with

five 5 is a number, numeral, and glyph. 5, five or number 5 may also refer to: * AD 5, the fifth year of the AD era * 5 BC, the fifth year before the AD era Literature * ''5'' (visual novel), a 2008 visual novel by Ram * ''5'' (comics), an awa ...

(5RT-flex35) to fourteen cylinders (14RT-flex96C). The most powerful low-speed engine ever produced by Wärtsilä, a 14-cylinder version of the RT-flex96C, produces and is used to propel the

Mærsk E-class The E class comprises eight 14,770 twenty-foot equivalent unit (TEU) container ships. Each sister ship bears a name beginning with the letter "E". Until 2012, they were the largest container ship ever constructed, and are among the longest ship ...

container ships. In 2015, the Wärtsilä 31 engine achieved a Guinness World Records title for the most efficient 4-stroke diesel engine. Wärtsilä revealed manipulation of fuel consumption tests after an internal audit in 2016, with a few hundred engines affected. According to the company, the customer impact of the deviations was marginal.

Sustainability

Wärtsilä published its first environmental report in 2001, and first sustainability report in 2003. The company signed the United Nations Global Compact initiative in 2009. Common rules and guidance for all employees on Wärtsilä’s approach to responsible business practices are defined in the company’s Code of Conduct. Supplier requirements on sustainability, traceability, and business continuity planning are set out in the company’s Supplier Handbook. Wärtsilä is included in several sustainability indices including the Dow Jones Sustainability Indices, FTSE4Good Index, Ethibel Sustainability Index (ESI) Excellence Europe, ECPI Indices, MSCI Global Sustainability Index Series, STOXX Global ESG Leaders index, and RobecoSAM Sustainability Yearbook.Why invest in Wärtsilä
Retrieved 3 April 2019.

Key figures

Key figures of Jan-Dec 2021: *Order intake – EUR 5735 million (4359) *Order book – EUR 5859 million (5057) *Net sales – EUR 4778 million (4604) *Operating result – EUR 314 million (234), 6.6% of net sales (5.1%) *Earnings per share – 0.33 euro (0.23) *Cash flow from operating activities EUR 731 million (681) All numbers are shown excluding non-recurring items and selling profits.

References

External links

*
Official financial reportingWärtsilä SAM ElectronicsWärtsilä Transas
{{DEFAULTSORT:Wartsila Companies listed on Nasdaq Helsinki Diesel engine manufacturers Marine engine manufacturers Engineering companies of Finland Companies established in 1834 Finnish brands Gas engine manufacturers 1834 establishments in Finland Multinational companies headquartered in Finland Locomotive engine manufacturers Electrical generation engine manufacturers