Wartsila buys Finnish biomass power plant firm
Date: 19-Oct-01
Country: FINLAND
"Sermet's net sales in 2001 are expected to total approximately 20 million euros ($18.18 million) and the result to be on a good level," Wartsila said in a statement.
Acquiring Sermet would help strengthen Wartsila's position as a supplier of decentralised power plant systems, the engine-builder said.
"Demand for power plants running on fuels from renewable energy sources is growing strongly," Wartsila said. It added that biomass-fuelled power plants with total capacity of about 1,000 megawatts were currently under construction in Europe.
"There is a large market potential in the developing countries," it said.