Finnish firms expand operations worldwide
Stora Enso, Metso and Wärtsilä have all pushed the boundaries worldwide with an acquisition, production capacity increase and trawler design, respectively.
First to Stora Enso, which has acquired Swedish cellulose technology company Cellutech. The Sweden-based company develops new materials and applications based on cellulose and other wood-based components and will support Stora Enso’s vision to replace fossil-based materials with wood-originated renewable ones.
Then on to Metso, which is investing in a new green-field valve technology centre in Jiaxing, China, to increase its valve production capacity in order to improve its competitiveness in China and meet growing global demand. Metso will invest approximately 10 million euros in the new technology centre, which should be up and running in the spring of 2020.
Finally to Wärtsilä, which is providing a unique design for a factory fishing trawler to be built for RK Lenina at the Yantar shipyard in Kaliningrad. The 121-metre-long vessel will have twin trawling capabilities for catching many different fishes and will include both conventional winching and pumping systems to bring the catch onboard. It will also be able to process fish from other vessels. The vessel is part of the Russian Government’s fleet renewal investment programme and is scheduled for delivery in 2023, when it will take up operations in Russia’s Asian fishing grounds. The order was won by Wärtsilä’s Russian entity Wärtsilä Vostok.