Korean licence agreement extended

15 Nov 2011
Sung-Hee Lee and Martin Wernli sign the license extension at the Doosan Engine HQ in Changwon, South Korea

Sung-Hee Lee and Martin Wernli sign the license extension at the Doosan Engine HQ in Changwon, South Korea

Wärtsilä and its Korean partner, Doosan Engine Co, a member of the Doosan Group, have signed a 10-year extension, covering 2012 to 2021, to the licensing agreement to build Wärtsilä low-speed engines.

The full range of Wärtsilä RTA, RT-flex, and X-series marine engines are included in the scope of the agreement. Doosan Engine Co, along with its predecessor licence holders Korea Heavy Industries and Samsung Heavy Industries, has been a Wärtsilä licensee for 28 years. It has produced close to 400 engines with a total power of over 20million bhp. Doosan Engine is the world’s second biggest engine.

"We are very pleased to renew this agreement with our business partner in Korea. Doosan Engine is a major global producer of large marine diesel engines, and this agreement strengthens our partnership in promoting Wärtsilä brand low-speed engines in the territory. Our expectations are high for increasing our market share in the Korean market, and we are confident that by extending this agreement for a further ten years, our goals can be achieved," says Martin Wernli, president, Wärtsilä Switzerland, vice president, product centre 2-stroke.

"By renewing this licence agreement, both companies will continue their close co-operation in providing the latest technology low-speed engines to the rapidly changing shipbuilding market. It is a win-win growth opportunity for both companies, and will certainly strengthen their market positions," says Sung-Hee Lee, president & CEO of Doosan Engine.

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