Wilh. Wilhelmsen recalls Unitor Ballast Water Treatment System - books $15M loss

Wilh. Wilhelmsen Holding ASA (WWASA.OS) said Friday it will book a first quarter loss of $15 million before tax on the recall of its Unitor Ballast Water Treatment System.


-On February 29, the company said it withdrew the system after a comprehensive performance verification.

-The company found that the system was not compliant with the demands of vessels engaged in global trade.[

-The licensor of the technology placed itself under Business Rescue, or bankruptcy protection, in February 2012.

-At 0828 GMT, Wilh. Wilhelmsen Holding shares traded 1% higher at NOK38.80.

[I]-By Kjetil Malkenes Hovland, Dow Jones Newswires[/I]