Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    Wärtsilä acquires John Crane-Lips

    News // February 1, 2002
    John Crane-Lips, a leading global supplier of marine propulsion systems, will become part of Wärtsilä following the signing of the sale and purchase agreement between Wärtsilä and John Crane-Lips´ UK-based parent Smiths Group. The transaction enhances Wärtsilä's position as a leading global ship power supplier and provider of integrated propulsion systems. The acquisition price is GBP 215million (approx. EUR 350 million).

    John Crane-Lips reported net sales of GBP 152.4 million (EUR 249.4 million) and operating profit of GBP 18.7 million (EUR 30.6 million) in the financial year ending 31 July 2001. Its net assets are GBP 52 million (EUR 85.1 million). The company has 1,200employees.

    More articles from this category

    More news