Wärtsilä and Nordic Investment Bank agree on EUR 50 million loan for R&D activities
Wärtsilä Corporation, Press release, 13 February 2013 at 2 pm EET
Wärtsilä Corporation and Nordic Investment Bank have signed a loan agreement
totalling EUR 50 million for research and development financing. The contract
for this 10-year loan was signed in Helsinki, Finland on 13 February 2013. This
R&D loan supports Wärtsilä's long-term strategy of strengthening its technology
leadership position in the global marine and energy markets. With this loan,
Wärtsilä will further develop its medium-speed engine technology in terms of
efficiency, reliability and environmental performance, as well as in reducing
lifecycle costs.
Wärtsilä's R&D activities continue to be given a high profile. Since 2009
Wärtsilä has increased its R&D related expenditures by more than 30 per cent.
The R&D related expenditure in 2012 was at a high level of EUR 188Â million,
which represents four per cent of the company's net sales.
The key areas of Wärtsilä's research and development operations are 4-stroke
engines, 2-stroke engines, propulsion, as well as emissions abatement and energy
efficiency products. Wärtsilä has today the widest portfolio of exhaust gas
cleaning systems for the removal of sulfur oxides. The portfolio consists of
open-loop, closed-loop and hybrid exhaust gas cleaning systems. The AQUARIUS UV
ballast water management system has received type approval at the end of
December 2012. Wärtsilä is a pioneer in developing dual-fuel technology for 2-
and 4-stroke engines. Testing during 2012 confirmed that Wärtsilä's 2-stroke
dual-fuel engine technology is progressing as planned, and this new technology
will meet IMO tier III emission requirements without exhaust gas treatment
systems. Wärtsilä's research centers for engine technology are located in
Finland, Italy, Spain and Switzerland.
For further information please contact:
Markus Pietikäinen
Vice President, Group Treasury & financial services
Wärtsilä Corporation
Tel: +358 40 525 3024
markus.pietikainen@wartsila.com
Tuula Franck
Senior Manager, Media and Stakeholder Relations
Wärtsilä Corporation
Tel: +358 400 267555
tuula.franck@wartsila.com
Wärtsilä in brief
Wärtsilä is a global leader in complete lifecycle power solutions for the marine
and energy markets. By emphasising technological innovation and total
efficiency, Wärtsilä maximises the environmental and economic performance of the
vessels and power plants of its customers.
In 2012, Wärtsilä's net sales totalled EUR 4.7 billion with approximately
18,900 employees. The company has operations in nearly 170 locations in 70
countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki,
Finland.
www.wartsila.com
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Source: Wärtsilä Oyj Abp via Thomson Reuters ONE
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