Wärtsilä Corporation Overview
Wärtsilä Corporation. was established in 1834 and headquartered at Helsinki, Finland. The company has operations in over 200 locations in more than 70 countries around the world with about 18,000 employees. As of 2016, Wärtsilä had 63 GW of installed power plant capacity in 176 countries around the world.
The company operates in four broad business segments, marine, oil & gas, energy and services. The energy segment offers, power generation solutions and LNG infrastructures. The company has subsidiaries, Eniram, Wärtsilä North America, Inc., Wärtsilä Netherlands B.V., Wartsila Ship Design Singapore Pte. Ltd. and Wartsila Bangladesh Ltd. Among others.
Strategy
The company sees partnership & collaboration of their services with global power companies, government authorities and natural oil & gas supplier to expand their business portfolio as key strategy. Company also believes in new product launch and new product development to withstand the growing competency in the floating power plant market. Moreover, the company sees its long term growth strategy as expansion of core business through internal acquisitions that can help reduce demand on financial measures and also enhance liquidity through strategic operations. Company’s objective is to leverage project management and engineering competences to achieve growth by offering customers new and innovative solutions. Company’s market is driven by investments in R&D and focus on digitalisation, by creating a strong foundation for securing and strengthening company’s position at the forefront of market innovation.
