Wärtsilä to divest Delivery Centre Santander to Javier Cavada Corporación Cantabria

Wärtsilä Corporation, Press release, 31 May at 2:30 PM EEST

The technology group Wärtsilä announces the divestment of Delivery Centre Santander (“DCS”) to Javier Cavada Corporación Cantabria (“JCCC”). Delivery Centre Santander is a state-of-the-art foundry able to cast the highest grades of NiAlBronze alloys. The facility located in Santander, Northern Spain, employs 45 professionals and has an annual casting capacity of 700 tons.

As part of the divestment, Wärtsilä and JCCC signed a strategic supply agreement where JCCC becomes a supplier for bronze alloy castings parts to Wärtsilä Marine Power business unit Propulsion. Moving forward, JCCC and Wärtsilä will work closely together to jointly develop and optimise the propulsion propeller portfolio.

Henk de Jong, Director Delivery Management Business Unit Propulsion, says that this new strategic alliance with JCCC will bring together Wärtsilä’s advanced R&D and design capabilities with strong manufacturing knowledge provided by JCCC.

Javier Cavada, owner at JC Corporación, said: “We are very excited to partner with Wärtsilä to maximize together the potential of this historical factory in Santander, with its state-of-the-art processes, cutting-edge technologies and an impressive know-how from the team running the activities." 

Bernd Bertram, VP Business Unit Propulsion, states: “In the current fast changing business environment, we need to be flexible, agile and concentrate our internal resources in those areas where we can provide most value to our customers. At the same time, we work together with trusted strategic partners in areas requiring specialised competences. We believe that under the new ownership, the foundry gets the opportunity to further develop its business and offering independently, and that the DCS team will find a good home with JCCC.”

Subject to fulfilment of closing conditions, closing of the transaction is expected in July 2021.

Media contacts for more information on this release:

Mr Atte Palomäki 
Executive Vice President, Communications, Branding & Marketing 
Wärtsilä Corporation 
Tel: +358 10 709 5599 
atte.palomaki@wartsila.com

Ms Tania Rado
Communications Manager for JC Corporación
Tel: +34 942 226 868
trado@glezco.com

Wärtsilä in brief
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2020, Wärtsilä's net sales totalled EUR 4.6 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki
www.wartsila.com

JC Corporación in brief
JCC is an industrial group headquartered in Spain, active at the most innovative technology fronts of the marine and energy markets, with a growing international footprint since 2018.