Wärtsilä Corp has divested its pumps business to the Scandinavian investment company Solix Group.
The Wärtsilä Pumps business, which had sales of around €50 million in 2017, became part of Wärtsilä in 2012 with the acquisition of Hamworthy.
Headquartered in Aalborg, Denmark, Wärtsilä Pumps designs, manufactures and markets niche pumps, primarily deepwell and in-line pumps, for the marine and oil & gas industries. Brands include Svanehøj, Hamworthy Pumps, Eureka and Dolphin.
The company has had a market presence for more than 100 years.
Most of Wärtsilä Pumps’ 230 employees are located in Denmark and Singapore.
“Pumps will continue to be an integral part of Wärtsilä’s various gas and fuel gas system solutions. We foresee a strong future for this business with a dedicated new owner who will become an important supplier to Wärtsilä,” said Timo Koponen, vice president, Processing Solutions, Wärtsilä.
The divestment will enable Wärtsilä to focus more on its Smart Marine vision.