Finnish marine technology firm Wärtsilä has moved to turn around its Voyage business by integrating it into its Marine Power unit by year-end.
The company said the move comes as the Voyage business has been “severely impacted” by the pandemic and recently the closure of its operations in Russia. Wärtsilä announced a complete halt to all operations in Russia in March, including the supply and sale of equipment, as well as the acceptance of new orders. This resulted in a €200m write-off in the first quarter of 2022.
The president of Wärtsilä Voyage Sean Fernback will leave the company and he will be succeeded by Hannu Mäntymaa with immediate effect. Mäntymaa, currently vice president of performance services in Wärtsilä Marine Power, will take over to lead the integration process and continue as the head of the future Voyage business unit as of January 1, 2023.
Håkan Agnevall, president and CEO of Wärtsilä, said that by linking the digital expertise in Voyage with its Performance Services, Wärtsilä will also take the next step in creating end-to-end digital solutions for maritime customers.
“With this offering, we can further optimise marine operations for lower costs and reduced emissions. Customers can benefit from Wärtsilä’s unique set of capabilities, combining the optimisation of vessel operations with ports traffic management and performance-based services for port-to-port operations,” he added.