Wärtsilä signed a cooperation agreement for the 24/7 global spare parts transportation management and control tower services for Wärtsilä Services. For CEVA, the contract value is approximately EUR 32 million per annum over the next 3 years. The agreement follows Wärtsilä's earlier announcement of its intention to centralize spare parts logistics and to build a Central Distribution Center facility in the Netherlands. The new operating model is planned to be fully implemented by 2011.
CEVA Logistics will take responsibility for shipments of spare parts to Wärtsilä's various warehousing facilities in Europe and for the spare parts deliveries to Wärtsilä's international customers. Until today Wärtsilä's seven product companies, in Finland, Italy, the Net herlands, France, Sweden, Norway and Switzerland, are responsible for the global logistics of the spare parts for their own products. A centralisation of these activities will result in faster and more efficient spare part deliveries.