Wartsila to divest gas solutions business unit

Wartsila, a Finnish technology company, on November 6 announced plans to divest its gas solutions business unit. The company cited limited synergies between the gas solutions unit and the rest of its marine product portfolio as the reason for the divestment.

The gas solutions unit, which generated net sales of €293mn in the 12-month period from Q4 2022 to Q3 2023, will be moved to Wartsila's Portfolio Business in preparation for a sale.

In addition to divesting the gas solutions unit, Wartsila is also streamlining its organisational structure. The company is moving its exhaust treatment and shaft line solutions business units from Wartsila Marine Systems to Wartsila Marine Power as of January 1, 2024. As a result of these changes, Wartsila Marine Systems will no longer be a separate reporting segment.

Wartsila Marine Power will be renamed Wartsila Marine as of January 1, 2024. The unit will be led by Roger Holm, who is currently president of Marine Power and executive vice president. Tamara de Gruyter will continue to serve as executive vice president and member of the Wartsila Board of Management, with a focus on the divestments of the portfolio businesses.