Wärtsilä has acquired Cedervall, one of the leading manufacturers of shaft seal and bearing systems for the marine industry. The combination of the two companies will create the market leader for oil and water lubricated seals and bearings, as well as for sterntubes.
https://www.cedervall.com/[Cedervall] is headquartered in Gothenburg, Sweden, and the company has subsidiaries in Spain, China and Singapore, with manufacturing facilities in Sweden, China and Spain. In 2010, the company’s annual net sales were SEK 344 million (EUR 39 million) and its profitability was on a good level. The company employs 211 people.
No Redundancies
Cedervall will be integrated into https://www.wartsila.com/en/Home[Wärtsilä Corporation]. All employees will continue as Wärtsilä employees after the acquisition, including the current owners Anders Lundgren and Henric Lundgren. The value of the transaction is not published.
The acquisition is subject to relevant regulatory approvals, which are expected during the third quarter of 2011.
