Wärtsilä’s plans to expands its digital portfolio has received a boost with the news that it has signed a EUR 40 million loan agreement with the Nordic Investment Bank (NIB) for the acquisition of American Hydro and Finnish software company Eniram Oy.
Wärtsilä’s plans to expands its digital portfolio has received a boost with the news that it has signed a EUR 40 million loan agreement with the Nordic Investment Bank (NIB) for the acquisition of American Hydro and Finnish software company Eniram Oy.
Wärtsilä completed the acquisition of high-performance turbines and pumps specialist American Hydro in June 2016, strengthening Wärtsilä’s presence in hydro and industrial services.
Eniram Oy, a Finnish software engineering company and provider of digital energy management solutions for reducing fuel consumption and emissions of ships at both vessel and fleet levels, will allow Wärtsilä to increase its digital product portfolio and analytical infrastructure.
“The acquisitions contribute to Wärtsilä’s growth strategy and the optimisation of its product offering. In addition, the expansion of services is likely to have positive spill-over effects on the marine industry cluster in NIB’s member countries”, said Thomas Wrangdahl, Head of Lending at NIB.
"This loan is a continuation of the long-standing and strong co-operation between the Nordic Investment Bank and Wärtsilä. The NIB loans provide Wärtsilä with solid long-term funding and are an important part of our loan portfolio and, as such, highly appreciated by us", added Marco Wirén, CFO & Executive Vice President, Wärtsilä Corporation.