Singapore: Wartsila Acquires MMI Boiler Management
Wärtsilä has signed a contract to acquire the assets and business of MMI Boiler Management Pte Ltd., the Singapore-based company specialising in the service and maintenance of boilers for marine and industrial applications. MMI Boiler Management has its main operations in Singapore and coverage throughout Southeast Asia and the Pacific region.
The acquisition further strengthens Wärtsilä’s boiler services offering and enhances its leading position in the global marine services market. Furthermore, it supports Wärtsilä Services’ strategy of constantly developing the offering with value-enhancing services within existing customer segments.
MMI Boiler Management has a strong market position in Southeast Asia and the Pacific region, particularly within the offshore segment. The company’s activities include the service, maintenance, repair and installation of boilers, for both marine and land-based customers. MMI Boiler Management’s net sales were approximately EUR 5.3 million in 2011, and the company currently has 138 employees.
“MMI Boiler Management’s outstanding know-how in boiler services and its excellent customer relations across its market area strongly complements Wärtsilä’s offering for boiler services. This acquisition will further enhance our competitiveness and our position as the leading provider of services to the global marine market,” says Christoph Vitzthum, Group Vice President, Wärtsilä Services.
MMI Boiler Management will be integrated into Wärtsilä Corporation. All employees will continue as Wärtsilä employees after the acquisition, including the current four owners. The value of the transaction is not published. The acquisition is expected to be closed in the first quarter 2012.
Source: wartsila, March 5, 2012