Wärtsilä to Divest Delivery Centre Santander to Javier Cavada
The technology group Wärtsilä announced the divestment of Delivery Centre Santander to Javier Cavada Corporación Cantabria. 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 tonnes. 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.
Subject to fulfilment of closing conditions, closing of the transaction is expected in July 2021.