April 30, 2018

Big week for Finnish trio

Wärtsilä and the Maritime and Port Authority of Singapore have agreed to promote maritime technologies together.
Wärtsilä and the Maritime and Port Authority of Singapore have agreed to promote maritime technologies together.
Wärtsilä

It has been a good week for three major Finnish companies, namely the technology group Wärtsilä, Amer Sports and Huhtamäki.

First to Wärtsilä, which is setting up a cyber academy in Singapore together with cyber security company Templar Executives. The course offering of the academy will support and enhance the cyber maturity of the shipping community at large. The academy is set to become operational on 1 May, with courses to be delivered in London and Singapore.

The Finnish technology group is also partnering with the Maritime and Port Authority of Singapore to promote maritime technologies. The collaboration covers four streams: digital acceleration, cyber-physical security, intelligent vessels and port operations.

Wärtsilä also continues to make its mark on Senegal’s energy sector, where the Finnish company will now engineer, manufacture and deliver a 130MW Flexicycle plant on behalf of Matelec. The plant will be an integral part of Senegal’s evolving energy infrastructure, as it is more cost-efficient and integrates more renewable energy into the infrastructure.

Then onto Amer Sports, which is acquiring the iconic Peak Performance brand from Danish fashion company IC Group. The net sales of Sweden-based Peak Performance in the past 12 months were approximately 145 million euros, and the acquisition price will be approximately 255 million euros. The 300 or so Peak Performance employees will become part of the Amer Sports Group.

Finally to Huhtamäki, which has acquired a majority share in Australian food service packaging distributor and wholesale group, Tailored Packaging. The Finnish company now gains access to Tailored Packaging’s network of distribution centres spread across all the states of Australia. The debt-free purchase price for 65 per cent of the Australian company was approximately 35 million euros.

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