The history of Wärtsilä Corporation from 1834 until 1990
1834 Wärtsilä is established when the governor of the county of Karelia approves the construction of a sawmill by a rapids in the municipality of Tohmajärvi on 12th April. Some years later the sawmill becomes the property of N. L. Arppe.
1851 The Wärtsilä iron mill is built in place of the sawmill.
1898 The sawmill changes hands and consequently the sawmill and iron works company is renamed Wärtsilä Ab, which becomes a new company called Ab Wärtsilä Oy in 1907.
1908 The power station by Saario rapids starts operating. Wärtsilä has become a modern smelting plant and steel mill running on electricity generated by the rapids it owns.
1926 Wilhelm Wahlforss becomes President of Wärtsilä.
1930 Wärtsilä’s galvanization factory manufacturing magnetically galvanized wire is completed.
1931 Wärtsilä is on the brink of bankruptcy. Workers agree to a 25% cut in wages.
But already in next year Wärtsilä pays a dividend to its shareholders for the first time in a decade.
1935 Wärtsilä acquires a majority holding in Kone- ja Siltarakennus Oy (Machine and Bridge Construction Ltd), gaining also control of the Hietalahti shipyard (est’d 1865) in Helsinki and the Crichton-Vulcan shipyard (est’d 1741) in Turku. Kone- ja Siltarakennus Oy manufactures for example paper machines and Abloy locks. Soon Wärtsilä's headquarters move from Karelia to Helsinki.
1936 Wärtsilä acquires the Onkilahti engineering workshop in Vaasa and the next year the Pietarsaari workshop in the town of Pietarsaari.
1938 Kone ja Silta (Machine and Bridge) group is merged with Wärtsilä, along with the iron mill Taalintehdas (est’d 1686) just acquired, and the Turku, Pietarsaari and Vaasa subsidiaries.
After that Wärtsilä-Yhtymä O/Y (Wärtsilä Group Ltd) is established under chief executive Wilhelm Wahlforss.
1938 The diesel engine era begins when Wärtsilä signs a licence agreement with Friedrich Krupp Germania Werft AG in Germany. The first diesel engine sees the light of day in Turku in November 1942.
1947 Wärtsilä acquires most of the ceramics factory Arabia Ab’s share capital and later the entire company.
1950 Wärtsilä acquires the Nuutajärvi glass factory.
1961 Inauguration of the Wärtsilä Technical College in Joensuu, donated by Wärtsilä.
1961 Bertel Långhjelm is appointed CEO of the group after Wilhelm Wahlforss.
1965 The company is renamed Oy Wärtsilä Ab. The next year the Crichton-Vulcan shipyard is renamed the Turku Shipyard and the Hietalahti shipyard becomes Helsinki Shipyard.
1968 Joensuun Lukkotehdas (The Joensuu Lock Factory) is completed and the manufacturing of Abloy locks is transferred there from Helsinki Factory (former Kone ja Silta Oy).
1970 Tankmar Horn becomes chief executive officer.
1970 Wärtsilä's new Järvenpää factory is completed where e.g. paper machine production moves there from the Helsinki factory.
1971 Sanitary ware production of Arabia is moved to the new factory in Tammisaari.
1974 Wärtsilä begins to build a new shipyard to Perno, Turku, where the whole Turku Shipyard will move by 1983.
1978 Wärtsilä’s head office is moved to Pitkänsillanranta 1 in Helsinki, a property gained by the company when it acquired the John Stenberg engineering workshop in 1975.
1978 Tor Stolpe becomes chief executive officer.
1978 Acquisition of 51% of the NOHAB diesel business from Bofors in Sweden, marking the beginning of Wärtsilä’s international manufacturing operations. The remaining shares are acquired in 1984.
1978 Wärtsilä acquires Björkboda lock factory.
1979 As a result of structural rationalization Taalintehdas is merged with Ovako Oy of which Wärtsilä has the biggest hold.
1979 A new organization is introduced based on six business groups: shipyard, diesel, mechanical engineering, technical porcelain, locks, and consumer goods.
1983 Wärtsilä floats a share series on the Stockholm stock exchange.
1984 Wärtsilä floats its second share issue for international investors and is the first Finnish company to be quoted on the London stock exchange.
1986 A crisis in the global marine industry that had lasted several years leads Wärtsilä to pool its marine resources with Valmet, resulting in the establishment of Wärtsilä Marine Oy. Valmet’s shipbuilding activities are joined with Wärtsilä’s while Wärtsilä’s paper machines are transferred to Valmet.
1986 Wärtsilä Cimtec is formed when Wärtsilä acquires two factory automation companies: GCA Corporation's Industrial Systems division in USA and Oy W. Rosenlew Ab's Automation division in Finland.
1988 A company is set up in India and floated on the Bombay stock exchange. The diesel engine assembly plant in Khopoli is built.
1989 Pekka Laine is named President and CEO in June.
1989 Wärtsilä Marine Oy is filed for bankruptcy in October.
1989 Wärtsilä Diesel acquires the French SACM, a manufacturer of high-speed engines.
Wärtsilä acquires a majority holding in the Dutch company Stork Werkspoor B.V., which makes medium-speed engines. This company is renamed Stork-Wärtsilä Diesel B.V.
1989 Klaus Grönbärj appointed President of Wärtsilä.
1989 Wärtsilä and Lohja sign a merger agreement. Lohja becomes a major shareholder in Wärtsilä after a privileged share issue.
1990 Wärtsilä extraordinary shareholders’ meeting approves the merger plan according to which Wärtsilä will be merged into Lohja, and Wärtsilä shareholders receive as a merger consideration cash and shares of the company formed as a result of the merger.
1990 Wärtsilä sells the majority of Oy Arabia Ab and Rörstrand-Gustavsberg AB to Oy Hackman Ab.
The history of Wärtsilä Corporation from 1897 until 1989
Born in Virkkala
1897 Lime industry is born in Virkkala
Karl Forsström, a sea captain, builds the first shaft kiln in Virkkala for burning lime. Petter Forsström takes the helm of this industrial enterprise of Lohja Lime Factory.
1907 A rotary kiln is built
The first rotary kiln is brought into operation, raising capacity five-fold.
1911 Tytyri limestone deposit
The limestone deposit situated in Tytyri is rented but will be returned in 1930's.
1914 Lojo Kalkverk – Lohjan Kalkkitehdas (The Lohja Lime Factory) is established as a limited company.
1919 Lohjan Sähkö is founded
The production of cement starts in Virkkala after the first world war. Lohjan Sähkö Oy (The Lohja Electricity Ltd) is founded.
1924 Lohjan Kalkkitehdas buys the mining industry of Ojamo where lime is mined until 1965.
1927 Lohjan Kalkkitehdas becomes a publicly listed company.
1935 Saseka is founded
Oy Saseka Ab is established to produce mortar bricks. Two years later Petter Forsström takes a majority holding in Saseka. The name Saseka comes from the Finnish words santa (=sand), sementti (=cement) and kalkki (=lime).
1937 Lohjan Kalkkitehdas acquires the rights to the limestone deposits in Sipoo.
1939 Lohjan Kalkkitehdas takes a majority holding in Oy Rudus Ab.
1946 Tytyri for Lohja
The limestone deposit of Tytyri is partly bought and partly rented again for 50 years. Two years later the Tytyri lime factory starts to function.
1947 Lohjan Kalkkitehdas acquires Iskumetalli Oy (Impact Metal Ltd), a company specializing in pumps.
1949 Iskumetalli Oy starts manufacturing Luxor radios under licence in Lohja.
1958 Rudus sets up the first Finnish ready-mixed concrete plant in Helsinki.
Iskumetalli Oy starts manufacturing black-and-white television sets.
1961 Saseka is merged with Lohjan Kalkkitehdas.
1962 Petter Forsström retires. Petter's nephew Börje Forsström is appointed President.
1964 Lohjan Sähkö Oy and Iskumetalli Oy are merged with Lohjan Kalkkitehdas.
1971 Lohja acquires Lahden Betoni Oy (Lahti Concrete Ltd) and production of municipal products starts.
The factory of Iskumetalli Oy is renamed Finlux and next year the production of colour televisions starts with the Finlux brand.
1972 Two further acquisitions: Betonila Oy, which manufactures concrete piles and elements, and Betonisora Oy, a concrete aggregates producer.
1973 Risto K. Alanko is appointed President.
1975 The company is renamed Oy Lohja Ab.
1975 Production of Solifer caravans begins in Vuosaari, Helsinki.
1977 Lohja buys a research project related to electroluminescent flat screens from Instrumentarium Oy.
1978 President Risto K. Alanko dies in a flying accident.
Georg Ehrnrooth is named President next year.
1979 Lohja acquires Turku-based television manufacturer Asa Radio Oy and a majority holding in Oy Kafi Ab, which makes caravans in Teuva, Ostrobothnia.
1981 Lohja acquires paint and printing ink manufacturer Oy Winter Ab in Tampere.
1984 Lohja acquires ready-mixed concrete producer Southern Ready Mix Inc. in the USA.
Lohja Microelectronics is founded to support the development and production of electroluminescent display. Later on it becomes Elcoteq.
1988 Lohja acquires caravan manufacturer Polar & Sävsjö in Sweden.
1989 Southern Prestressed Inc., established in the USA, acquires ten concrete element factories from Florida Mining and Materials Inc.
1989 Announcement of plans to merge Oy Lohja Ab and Oy Wärtsilä Ab.
Next year the extraordinary general meeting of Lohja shareholders approves the merger plan.
The history of Wärtsilä Corporation from 1990 until 2000
1990 Metra is born
The Tohmajärvi district court confirms the merger of Wärtsilä and Lohja.
An extraordinary meeting of Lohja shareholders in December approves the new name of the company, Metra Oy Ab, and appoints a new Board of Directors. Wärtsilä is merged with Lohja. Metra is defined as “an international industrial corporation whose key areas of focus are building-related activities and the diesel engine business”.
1991 The merger carried out
Metra Oy Ab is registered in the Trade Register. The merger is then carried out. Georg Ehrnrooth is appointed President and CEO.
1991 Changes in group structure
The electronics manufacturer Elcoteq Oy Ab is sold to its operative management.
Imatra Steel is created when Ovako AB, an associated company, is split up between its owners, Metra and SKF.
Wärtsilä sells its 35% holding in Valmet Paper Machines Ltd to Valmet. Wärtsilä also sells its power stations in Northern Karelia.
1991 Metra’s shares are listed for trading on the SEAQ system in London Stock Exchange.
1992 Finlux is sold to Nokia in accordance with the letter of intent.
1992 Restructuring building business
Partek and Metra announce a plan to restructure the building materials business. The Lohja business is merged with Partek’s corresponding operations. In 1993 75% of the operations is sold to the Swedish Euroc AB.
1993 Lohja Caravans is sold to a new company set up by investors.
1994 Assa Abloy is established
The Abloy Security division and the Swedish Securitas group’s Lock Group are merged resulting in the establishment of Assa Abloy, in which Metra holds 55% in October. In December Metra’s holding of Assa Abloy is reduced to 48,3%, so that the company ceases to be Metra’s subsidiary.
1994 Metra sells it’s remaining share of the building material business to Partek.
1995 Cummins-Wärtsilä is established
Wärtsilä Diesel and the American Cummins Engine Company Inc. set up a joint venture based on equal ownership to develop and manufacture high-speed 170 and 200 series engines.
1996 Cimcorp Oy (former Wärtsilä Cimtec) is sold to the Swiss Swisslog Group.
1996 AWEK is established
Metra’s patent department becomes an independent company AWEK Industrial Patents Ltd.
1996 Metra and Fincantieri agree on the merger of Wärtsilä Diesel, New Sulzer Diesel and Diesel Ricerche in 1997, the new company will be called Wärtsilä NSD Corporation. This makes Fincantieri a minority (15%) shareholder in Metra’s largest division. The merger also includes a 40% share of Grandi Motori Trieste SpA, of which Fincantieri owns another part.
1996 European Works Council is born
Wärtsilä Diesel signs a co-operation contract with its employees leading to the establishment of a European Works Council.
1997 Wärtsilä NSD is born
Metra Corporation and Fincantieri sign the agreement of diesel function’s merger and Wärtsilä NSD is born.
1998 Demerger plan
Metra plans demerger into three listed companies: a diesel and gas engine company, a bathroom products company and an investment company. The aim is that the Finnish parent companies will be quoted on the Helsinki stock exchange.
Metra postpones the decision on its demerger owing to the deteriorating international economic situation and Wärtsilä NSD’s weak performance. Despite the postponement of the decision on demerger Metra will further increase the independence of its divisions.
1999 Sanitec division is listed on the Helsinki stock exchange.
1999 Changes in Wärtsilä NSD
Wärtsilä NSD acquires Fincantieri’s remaining 60% holding in Grandi Motori Trieste.
Wärtsilä NSD acquires the remaining 40% of Wärtsilä NSD Netherlands BV from Stork NV. The Special Products unit which manufactures military equipment for the Dutch armed forces is sold to Stork NV.
The split-up of the Cummins-Wärtsilä joint venture is announced.
2000 Wärtsilä NSD and John Crane-Lips in the UK sign an alliance on the supply of complete marine propulsion systems.
2000 Fincantieri sells its holding 15.4% in Wärtsilä NSD to Metra. Wärtsilä NSD becomes wholly owned subsidiary of Metra.
2000 Metra reduces its' holdings
Metra reduces it’s holding of Assa Abloy first to 19.8%, so that Assa Abloy is not anymore an associated company. Later in the same year holding declines to 16.4%.
Metra’s holding in Sanitec falls below 50% and Sanitec becomes an associated company. This is carried out in the form of an extra dividend as Sanitec shares to Metra shareholders.
2000 Metra becomes Wärtsilä
An extraordinary meeting of Metra shareholders on 13th September approves the Board of Director’s proposal to rename the group Wärtsilä. On the same day CEO Georg Ehrnrooth resigns. His place is taken by Ole Johansson, president of Wärtsilä NSD. Wärtsilä name becomes official on 22th September when it is recorded in the Finnish Trade Register.
The history of Wärtsilä Corporation from 2001 until 2010
2001 2002 2010
2003
2004
2005
2006
2007
2008
2009
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