Wärtsilä has acquired the Danish company International Combustion Engineering A/S (I.C.E.). I.C.E. specializes in project engineering and the service and repair of steam boilers and ancillary burner systems. The company has its headquarters in Aalborg, Denmark.
The acquisition of I.C.E. will expand Wärtsilä’s service offering into the new category of boiler services.
I.C.E.
I.C.E. has a strong market position, particularly with merchant vessels, while its major customers are shipping companies around the world. The company also has a trading division that supplies spare parts for boiler and burner systems. Furthermore, I.C.E. has the potential for strong global growth, and for expansion into segments such as offshore, cruise & ferry and special vessels, as well as to non-marine related industrial and land based power plant applications.
The company’s annual net sales amounted to 46,8 million Danish crowns (EUR 6.3 million) in 2007. In Denmark, I.C.E. currently employs thirty people full time. I.C.E.’s businesses will be integrated into Wärtsilä Services business in Denmark and all personnel will continue as Wärtsilä employees. The value of the deal is not published.
