Wartsila liquefaction unit. Image Credit: Wartsila
Wartsila plans to sell off its Gas Solutions business unit as part of the latest shake-up of its marine business aimed at simplifying its organisation and reporting structure.
The Gas Solutions business includes fuel supply systems for a number of upcoming and anticipated future bunker fuels, including the Wärtsilä MethanolPac and LNGPac complete fuel supply systems for methanol-fuelled and LNG-fuelled ships respectively.
"Gas Solutions is a leading provider of gas processing systems. However, the business unit has limited synergies with the rest of Wärtsilä's marine product portfolio," the Finnish group said in a Stock exchange release Monday.
In other moves, as of January 1, 2024 is Exhaust Treatment business - responsible for Wartsila's marine scrubbers - and Shaft Line Solutions business will be moved from Wärtsilä Marine Systems to Wärtsilä Marine Power.
Marine Systems will be discontinued as a reporting segment and Wärtsilä Marine Power will change its name to Wärtsilä Marine.
"Wärtsilä will have two reporting segments as of January 1, 2024: Marine and Energy. Portfolio Business will continue to be reported as other business activities," it said.