Wärtsilä Acquisition of Schiffko Completed

Wärtsilä Corporation announced an agreement to acquire the German ship design company group Schiffko on December 7. The transaction has now been completed. Schiffko specializes in the planning and design of ships especially in the container, research and offshore vessel segments. It also provides consultancy including project management and all kinds of supervisory work for shipowners and shipyards. Schiffko is located in Hamburg, Germany, but operates globally. Today the annual net sales totals approximately EUR 4 million and the company has some 25 employees.