Wärtsilä-Hyundai Engine Company, a joint venture between Wärtsilä and Hyundai Heavy Industries (HHI), inaugurated its new factory in . The 50/50 joint venture company manufactures Wärtsilä 50DF dual-fuel engines for LNG carriers and other marine applications. The optimal capacity of the factory is 100-120 engines a year.
During the inauguration, the first engine manufactured by the joint venture company was started by Mr Ole Johansson, President and CEO of Wärtsilä and Dr Keh-Sik Min, Vice Chairman and CEO of HHI.
The Wärtsilä 50DF dual-fuel engine has pioneered an industry change. It has allowed the shipping industry to move away from traditional steam turbine machinery to a dual-fuel-electric concept having the benefits of much better operating economy and lower exhaust emissions. The engine can be run either on natural gas, marine diesel oil or on heavy fuel oil. The engine can smoothly switch between fuels during engine operation and is designed to give the same output regardless of the fuel.
The joint venture manufactures Wärtsilä 50DF dual-fuel engines for the Korean, Japanese, Chinese and Taiwanese shipbuilding markets. , as today is the main market, has a market share exceeding 80 percent of the global LNG shipbuilding market.
The joint venture will utilize the established global service networks of Wärtsilä and HHI, covering some 80 countries, to take complete care of customers' ship machinery needs at every stage.
In January 2007 Wärtsilä and Hyundai Heavy Industries Co. Ltd signed an agreement to set up a 50/50-owned joint venture to manufacture dual-fuel engines in for LNG carriers and other marine applications. In September 2007, the ground breaking ceremony for the new factory was held. In July 2008, the company received a significant order from Samsung Heavy Industry to supply 16 engines for four ships. Today, Wärtsilä-Hyundai Engine company employs 130 people in , with this number to be increased to 210 when the factory is fully ramped up.