WARTSILA POWER DIVISIONS
1. OUTLINE OF COMPANY
1.1 ORGANISATION OF THE COMPANY
In Septmber 1996 it was announced that New Sulzer Diesel would merge with Finnishowned Wartsila Diesel and Fincantieri's Italian engine-building activities. The new company was established in April 1997 and became fully owned by Metra Corporation of Finland. On 22nd of September 2000 Metra changed its name to Wartsila and Wärtsilä NSD became Wärtsilä Power Divisions to differentiate it from the parent company Wartsila.
Wartsila is a public limited company (plc) that is listed on the Helsinki Stock Exchange. It has 17,000 shareholders, with 84 per cent of shares held by Finnish shareholders and 16 per cent by foreign shareholders. The single largest shareholder is Fiskars Corporation, which holds 15 per cent of Wartsila's shares.
Wartsila Power Divisions is the core business of Wärtsilä, but the corporation also has other interests. These comprise:
・full ownership of Imatra Steel, which produces special engineering steels and products for the European automotive and mechanical engineering industries;
・a 47 per cent stake in Sanitec, a supplier of bathroom ceramics products; and
・a 17 per cent stake in Assa Abloy, which supplies locking systems.
Wartsila Power Divisions itself divides its activities between three business areas: Marine & Licensing, Power Plants and Service.
