Wärtsilä: Marine Electrical Systems Sale and Cosco Shipping Contract

Wärtsilä, a leading global provider of innovative technologies for the marine and energy sectors, has announced the divestment of its Marine Electrical Systems business to VINCI Energies, a renowned multi-technical solutions and services provider, in a deal valued at € 100 million (approximately $ 116,22 million). The Marine Electrical Systems division, which operates under Wärtsilä’s Portfolio Business, is well-known for its expertise in designing and integrating specialized electrical systems for a wide range of vessels, including commercial ships and specialized maritime platforms. In 2024, the division recorded an annual revenue of € 100 million, reflecting its significant contribution to Wärtsilä’s operations. The transaction encompasses the sale of Wärtsilä SAM Electronics, a key entity within the division, along with associated assets tied to an ongoing project under construction in Brazil. The deal is anticipated to be completed in the last quarter of 2025, subject to regulatory approvals and other customary closing conditions.

Bernd Bertram, head of Wärtsilä’s Portfolio Business, emphasized the strategic importance of this move, stating, “This agreement is yet another proof point of our Portfolio Business divestment strategy coming to life. VINCI Energies brings deep expertise in managing complex, project-based businesses, making it an ideal match for the Marine Electrical Systems division.” He expressed confidence that the transition to VINCI Energies will provide a robust platform for continued growth, benefiting customers, partners, and the division’s highly skilled workforce of 350 employees. For VINCI Energies, the acquisition aligns with its goal to expand its industrial services portfolio through its Actemium brand while strengthening its foothold in the German defense market, where it sees significant potential for future growth.

In a related development, Wärtsilä Gas Solutions, another key arm of the company, has secured a significant contract to supply cargo handling and fuel supply systems for four Very Large Gas Carriers (VLGCs) being constructed for Cosco Shipping, one of the world’s largest shipping conglomerates. These advanced vessels are currently in production at Cosco Shipping (Qidong) Offshore, a subsidiary specializing in offshore and shipbuilding projects. The contract stems from an initial order for two VLGCs placed in the fourth quarter of 2024, with an additional order for two more vessels added in the second quarter of 2025. This contract underscores Wärtsilä’s ongoing commitment to supporting the global energy transition by providing cutting-edge solutions for gas transportation.