John Crane-Lips will operate within Wartsila under the name Wartsila Propulsion. Wartsila acquires the brand name Lips while the Smith Group retains the name John Crane. The acquired business and its 1,200 employees will be part of the Wartsila Marine Division, adding ?235m to its net sales.
John Crane-Lips has operational centres in the Netherlands, the UK, America, Japan and Norway as well as five manufacturing sites in Europe and Japan.
MJ Information 16729
