In July 2022, technology group Wartsila announced a plan to ramp down manufacturing in Trieste and to centralise its 4-stroke engine manufacturing in Europe to Vaasa, Finland. The production activities in Trieste have since been discontinued, with manufacturing volumes centralised in Vaasa, according to the company’s release.
Now, Wartsila and Mediterranean Shipping Company (MSC) have agreed on a transaction of the Trieste manufacturing site. Today, 255 employees and the production facility have been transferred to MSC, with the rest of the buildings and assets to be transferred later this autumn.
The full annual cost savings as well as the transformation costs are estimated to end in line with the plan announced in July 2022, with majority of the transformation costs taken as Items Affecting Comparability in 2022-2024 and the savings realised in 2024.
While production activities for Wartsila in Trieste have already been discontinued, Trieste will remain an important site for Wartsila with R&D, sales, project management, sourcing, service, and training activities.
Source: Port News
