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COMPANY NEWS WÄRTSILÄ QUANTISERV ACQUIRES LOCK-N-STITCH Wärtsilä is expanding its QuantiServ business line with the acquisition of the American engineering company LOCK-N-STITCH. The QuantiServ business line within Wärtsilä Services was established in 2016 to provide support and maintenance services for customers operating equipment by multiple brands – including Wärtsilä acquired service brands (e.g. Deutz, Sulzer, Stork, Nohab, Crepelle) and/or other manufacturers’ brands. The services offered are reconditioning services, in-situ services as well as flexible repair and overhaul services for auxiliary and generating sets. LOCK-N-STITCH specialises in cast iron repairs, and its expertise will complement the service offering of the QuantiServ business line. By incorporating the technologies and skills of LOCK-N-STITCH into the QuantiServ products portfolio, customers operating multiple brands can be offered a more comprehensive service. Furthermore, LOCK-N-STITCH has experience in the application of 3D technology for repair services. The recent development includes utilisation of 3D scanners for scanning of broken parts and 3D design of tailor made replacement castings. LOCK-N-STITCH has developed sophisticated technology for metal stitching repair, thread repair, furnace brazing and fusion welding for marine and power applications. As QuantiServ is available in major maritime locations, the patented LOCK-N-STITCH solutions can be applied on a global level to provide existing and new customers with high quality repair services. “We have cooperated with LOCK- N-STITCH in the past, and the company’s impressive repair capabilities are a good fit for the QuantiServ portfolio. We are confident that this acquisition has strong potential to create value for customers,” says Guido Barbazza, Vice President, Emerging Businesses, Wärtsilä Services. “New capabilities in cast iron repair provide direct business opportunities, and we expect to grow our market share for such repair solutions and generally within in-situ services as well.” “We are very happy to join the QuantiServ business. Wärtsilä’s extensive network is an opportunity for us to expand the geographical reach of our services to the far ends of the world. Through it, LOCK-N- STITCH has the means to further develop its technologies and expertise and increase customer value. We have experience in the application of 3D technology in repair services. The strong digitalisation focus via the new cooperation will certainly introduce interesting possibilities in that area,” says Gary Reed, CEO of LOCK-N- STITCH. SAVE MILLIONS IN DRYDOCK COSTS AND OFF-HIRE TIME Hull of cruise ship after 5 years with Ecospeed coating with no replacement or major repair. This is the state of the hull when the ship came out of the water, without any cleaning or touch-up in drydock. When your hull coating never needs replacing or major repair, you can save a lot of money in drydock fees, offhire time, materials and labour. Most hull topcoats are designed to be replaced once or twice every five years. The full hull coating scheme has to be fully replaced every 10 - 15 years down to bare steel. Over that time period, the coating degrades and becomes rougher until it’s no longer worth trying to patch it up. And it costs you a fortune in fuel to compensate for the additional hull friction. Imagine a coating that’s guaranteed for 10 years and is expected to last 25 without replacement or major repair. A coating that gets smoother over time, not rougher! Imagine coming into drydock after 3 or 5 years and finding that your hull coating only requires a few minor touch-ups and doesn’t even need to be washed off. Call us today for a quote to convert your hull to Ecospeed or start off right, with Ecospeed, on a new build. EU Office Phone: + 32 3 213 5318 Fax: + 32 3 213 5321 info@ecospeed.be US Office Phone: + 1 727 443 3900 Fax: + 1 727 443 3990 info@ecospeed.us www.subind.net 20
FINCANTIERI TO ACQUIRE 50% STAKE IN STX FRANCE Italian shipbuilder Fincantieri, through its subsidiary Fincantieri Europe, has signed a share purchase agreement for the acquisition of 50% of the share capital of STX France from the French State, represented by the Agence des Participations de l'Etat (APE). The signing takes place after the resolution of the share purchase agreement previously signed between Fincantieri and STX Europe in May 2017 as a consequence of the exercise by the French State of its pre-emption right for the acquisition of the entirety of STX France share capital in July 2017 and follows the signing of the share purchase agreement between the French State and STX Europe. The of €59.7 million acquisition is subject to the closing of the transaction between the French State and STX Europe and to customary conditions for this kind of transactions. With more than 150 years of history, STX France is a global player in maritime construction. Based in Saint- Nazaire, on the French Atlantic coast, the Group operates one of the most modern shipyards in the world and has great expertise in the design and engineering of the most complex and innovative ships. STX France has approximately 2,600 employees and a network of more than 500 subcontractors. In 2016 it generated revenues of approximately euro 1.4 billion. Through this industrial partnership Fincantieri strengthens its leadership on the global market. The perfect complementarity of Fincantieri’s and STX France’s cruise activities and products would allow the two companies to serve all the clients and end-markets and to generate value not only for the shareholders, but also for the employees and the respective subcontractors’ networks. WÄRTSILÄ EXTENDS THE SERVICE AGREEMENT WITH WINGD Wärtsilä has signed a 10-year service partnership agreement with the Swiss company Winterthur Gas & Diesel (WinGD). The new partnership agreement appoints Wärtsilä as an authorised global service provider for all WinGD products. It also enhances the opportunity for Wärtsilä to provide integrated smart solutions and smart services to the merchant shipping industry. WinGD was established in 2015 as Wärtsilä’s and China State Shipbuilding Corporation’s (CSSC) joint venture for research and development (R&D), design, operational and manufacturing support, and the marketing and sales of two-stroke low-speed gas and diesel engines. Wärtsilä’s minority stake in the joint venture was transferred to CSSC in 2016. “The Service Agreement between Wärtsilä and WinGD is an important element in ensuring a competent service support for WinGD customers and products worldwide,” says Dr Rudolf Holtbecker, Director, WinGD Operations. “In addition to securing top-class services for WinGD and customers of WinGD, Wärtsilä and Sulzer-branded two-stroke engine products on a global level for many years to come, the agreement also supports the promotion of new digital solutions for performance management and ship management. Especially digital solutions that optimise the energy efficiency of two-stroke engines are of great interest to customers in merchant shipping,” says Ole Pyndt Hansen, Director, Wärtsilä 2-Stroke Engine Services, Wärtsilä Services. MEM Marine Engineers Messenger Publisher: Seaborne Communications Ltd Contributions: Bill Thomson Email: mem@seabornecomms.com Web: www.seabornecomms.com The information published in MEM does not necessarily represent the views of Seaborne Communications Ltd. The publisher makes no representation or warranty as to the accuracy or correctness of the information or accepts responsibility for any loss, damage or other liability pertaining to the information published in this newsletter. ©2018 Seaborne Communications Ltd 21
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