Wärtsilä said it will begin discussions with employee representatives and relevant authorities and institutions in line with Italian legislation.
The engine manufacturer said it was centralising its four-stroke engine production to Vaasa, Finland, and that the Trieste site will contiinue to focus on R&D, sales, project management, sourcing, service and training activities.
The decision was referred to as an optimisation of Wärtsilä's European manufacturing footprint, with estimated annual cost savings of around EUR35m by 2025, with transformation costs of approximately EUR130m, and a cash flow impact of around EUR75m.
“Over the years we have continuously consolidated our manufacturing footprint in Europe. With our new European manufacturing footprint, we are taking the next step in strengthening our competitiveness and creating a structure enabled for future growth. Italy and Trieste will continue to be very important for Wärtsilä in many areas as we aim to be part of shaping the decarbonisation of marine and energy industries”, said Håkan Agnevall, President and CEO of Wärtsilä.
Roger Holm, President of Wärtsilä Marine Power said the company was "investigating possibilities for future investments in Trieste related to the development of technology for sustainable fuels".
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