Wärtsilä to transfer its manufacturing site in Trieste, Italy to shipping company MSC
In July 2022, the technology group Wärtsilä announced plans to downscale its manufacturing operations in Trieste and consolidate its 4-stroke engine production in Vaasa, Finland. Consequently, manufacturing in Trieste has ceased, with production activities now centralized in Vaasa.
Recently, Wärtsilä and the Mediterranean Shipping Company (MSC) reached an agreement regarding the Trieste manufacturing site. As part of this transaction, 255 employees and the production facility have been transferred to MSC, with the remaining buildings and assets expected to transfer later this autumn.
The anticipated annual cost savings and transformation costs are projected to align with the plan outlined in July 2022. Most transformation costs will be recorded as Items Affecting Comparability between 2022 and 2024, with the savings realized in 2024.
Despite halting production in Trieste, Wärtsilä will maintain a significant presence in the city, focusing on R&D, sales, project management, sourcing, service, and training activities.
Håkan Agnevall, President and CEO of Wärtsilä, commented on the strategic move: “The strategy’s main goal is to accelerate the decarbonisation of the energy and maritime sectors, which necessitates a constant emphasis on operational effectiveness and competitiveness. With a robust industrial base in Vaasa, They will continue to support our customers through our expertise in Trieste as part of the global Wärtsilä team.”
Wärtsilä in Brief
Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. The company focuses on sustainable technology and services to help customers enhance their environmental and economic performance. With a dedicated team of 17,800 professionals in over 280 locations across 79 countries, Wärtsilä is at the forefront of the decarbonization transformation of its industries worldwide. In 2023, Wärtsilä’s net sales totaled EUR 6.0 billion. Wärtsilä is listed on Nasdaq Helsinki. For more information, visit www.wartsila.com.
