Wärtsilä announced it will streamline offerings at its digital technology-focussed segment Wärtsilä Voyage and cut up to 300 jobs.
Wärtsilä Voyage was integrated into the company’s Marime Power business unit in early 2023 and, following a strategy review, will refocus on fleet and port optimization and related simulation and training services.
The parts of Voyage outside of the new strategic focus will be spun off and placed in Wärtsilä Portfolio Business, a business segment where divestitures and other “strategic alternatives” are being explored.
NACOS navigation, NACOS automation, dynamic positioning and sensors will all be moved to Wärtsilä Portfolio Business in April 2023 under the current plan. The changes will cut up to 300 jobs and create around 150 new jobs; Wärtsilä has initiated formal proceedings in relation to these redundancies.
Wärtsilä Voyage’s blends in the portfolio business will be joined by the Marine Electrical Systems business unit, currently housed within Marine Systems.
“Marine Electrical Systems serves largely different markets and customers than the rest of Wärtsilä and has limited strategic fit with the rest of the group. Therefore, we believe that an independent formation and potential new owner is the best path for Marine Electrical Systems to develop and create shareholder value. Business continuity will be ensured and current customer commitments will not be impacted,” said Tamara de Gruyter, EVP of Marine Systems and Portfolio Business.
The changes at Wärtsilä Voyage will allow the company to focus on port-to-port and ship optimization services, the company said.
“We are committed to driving decarbonization in the maritime industry and accelerating the turnaround of our former Voyage business. By combining digital capabilities with performance-based services, we plan to unlock synergies and offer our customers unique end-to-end solutions to optimize their ship and port operations. The planned integration of these specific travel offers into our existing Marine Power portfolio will offer customers the strongest decarbonization offer available,” says Roger Holm, President of Wärtsilä Marine Power.
The latest restructuring follows the cancellation of Wärtsilä’s engine manufacturing business in Trieste, Italy, last year.
Source: News Network
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