W?rtsil? Divests Drives Business
Finland-based The Switch, a drive trains specialist, has acquired Wärtsilä’s marine drives business. The divestment will encompass Wärtsilä's Medium and Low Voltage power drives specialized for marine applications.
As part of the deal, The Switch will gain part of Wärtsilä’s Electrical & Automation business line’s test center and the manufacturing facilities in Stord, Norway, that are associated with its marine drives. The Switch, backed by Yaskawa, will then become a supply chain partner of Wärtsilä for marine drives while also being able to open up the product offering to other customers.
Wärtsilä aims to focus on systems, whereas The Switch on providing drive train components to future proof vessels.
The specialized marine R&D teams of the synergetic group will collaborate closely, enabling The Switch and Yaskawa to bring additional technical resources to ongoing and future solutions. Additionally, the two will be able to take advantage of building on each other’s solid technical knowledge.
The acquisition allows The Switch to broaden its marine business, an area which is taking off with the growing acceptance of the company’s permanent magnet technology.
The transaction is expected to be completed by November this year.