Wärtsilä Names Håkan Agnevall as President and CEO
and autonomous vehicles will strengthen our activities in corresponding areas," said Tom Johnstone, Chairman of the Board of Wärtsilä Corporation. "Håkan has the skills needed to accelerate Wärtsilä’s activities in supporting and enabling our marine and energy customers on their journey towards more sustainable operations and business models."Agnevall said, "I am eagerly looking forward to joining Wärtsilä and its team of highly skilled and committed professionals. I believe that Wärtsilä can make a real difference for its stakeholders
Rolls-Royce to Cut Another 800 Jobs at Marine Unit
British engineering company Rolls-Royce said it would cut a further 800 jobs in its marine business to save an extra 50 million pounds ($63 million) a year, responding to weak demand from shipping and energy customers. The marine business, which depends on oil and gas-related customers for about 60 percent of its business and currently employs about 4,800 people with its main operations in Norway, has seen weak demand for new equipment and lower maintenance revenues as customers use their vessels less. Rolls, which has been cutting costs for three years to make the marine unit more competitive
Hvid to Take Over as Teekay President and CEO
be my successor to lead Teekay into the next phase of its strategy,” Evensen said. “Teekay's success is largely about how we work together as a team not only within the company but also with our customers and business partners. The decline in the oil price has significantly affected our energy customers. Faced with these challenges, the Teekay team has responded with resilience, adapting to the new environment in many ways, including implementing cost reduction programs while maintaining our high safety standards, increasing focus on efficient operations, and systematically completing the financing
Hydro Group Plans for Asia Pacific Growth
.” Doug Whyte, Hydro Group managing director, said, “Asia currently represents Hydro Group’s second largest export market, with significant growth in demand for our range of subsea optical cables, electrical cables and connectors from defense markets and increasingly energy customers, due to the expansion of exploration activities in the region. “These new agreements allow us to increase efficiency and ensure regular interaction with customers across the region. We look forward to working with our new Business Partners and fulfilling increasing demand for
