Wärtsilä has acquired Cedervall, a Swedish manufacturers of shaft seal and bearing systems for the marine industry. The company has subsidiaries in Spain, China and Singapore, with manufacturing facilities in Sweden, China and Spain.
This acquisition strengthens Wärtsilä's position in the global marine services market, according to a prepared statement from the company, in line with its strategy. The combination of Wärtsilä's and Cedervall's businesses will create a market leader for oil and water lubricated seals and bearings, as well as for sterntubes.
Cedervall’s key products are sterntube and bulkhead seals, sterntubes and sterntube bearings, intermediate shaft bearings, and propulsion rudders and nozzles.
"Cedervall's oil and water lubricated seals and bearings, and sterntubes optimally complete the range of products and services in Wärtsilä's seals and bearings portfolio. Furthermore, Cedervall's excellent know-how and expertise will further enhance our competitiveness. Now having all products in the propulsion line in-house, this acquisition strengthens our total propulsion solutions", said Christoph Vitzthum, Group Vice President, Wärtsilä Services.
Cedervall will be integrated into 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 was not published.
The acquisition is subject to relevant regulatory approvals, which are expected during the third quarter of 2011.