Wärtsilä 2-stroke engine business deal finalised

20 Jan 2015
Nordic Hamburg’s new dual-fuel container ships are being built in China so improving access to the Chinese market for two-stroke engines is essential

Nordic Hamburg’s new dual-fuel container ships are being built in China so improving access to the Chinese market for two-stroke engines is essential

Wärtsilä and China State Shipbuilding Corporation's (CSSC) 2-stroke engine joint venture has been finalised with the required government and merger control approvals having been received.

The takeover, announced in July 2014 (www.motorship.com/news101/engines-and-propulsion/wartsila-looks-east-but-maintains-its-european-roots), means that CSSC will own 70% of the business with 30% being retained by Wärtsilä. With a new name of Winterthur Gas & Diesel Ltd. (WinGD), the head office of the new business will remain in Winterthur, Switzerland, with subsidiaries in China, South Korea and Japan.

Martin Wernli, CEO, WinGD, said: “The new joint venture company represents an important opportunity for both partners and we stand at the threshold of a positive future for the Wärtsilä 2-stroke engine. The global shipping industry is developing with fuel economy and environmental compliance as its driving forces. The combination of Wärtsilä's technical leadership and CSSC's industrial strength will support the aim of WinGD to serve the industry with advanced products.”

Wärtsilä said that both partners will continue work closely together to develop and promote sales of the Wärtsilä 2-stroke engine portfolio. Responsibility for servicing will remain with Wärtsilä via its global service network.

It is hoped that the partnership between two of the marine sector's major players will enhance the market opportunities for Wärtsilä 2-stroke engines. The synergies of the joint venture will accelerate product development, thus bringing critical new engine technologies to the market faster than before.

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