Wärtsilä Establish China Engine Manufacturing J/V

Press Release
Thursday, December 20, 2012
Wärtsilä 32 Engine: Image credit Wärtsilä

Wärtsilä & Yuchai Marine Power Co to establish a 50/50 joint venture for manufacturing medium-speed marine engines in Zhuhai City.

The joint venture will serve the increasingly dominant Chinese shipbuilding industry, with the focus being on the assembly and testing of Wärtsilä 20, Wärtsilä 26 and Wärtsilä 32 engines. Operations are planned to start in 2014. The value of Wärtsilä's investment in the joint venture is approximately EUR 17 million. The joint venture is subject to approval by the relevant authorities.

“By forging a strong partnership with Yuchai, China’s leading producer and market leader for high-speed diesel engines, we can continue to broaden our customer base and further expand our market share in China. This is an important step for securing our market leadership position for medium-speed engines,” says Björn Rosengren, President & CEO of Wärtsilä Corporation at today’s signing ceremony where he signed the joint venture agreement with partners from Guangxi Yuchai Group and YCMP.

“This investment demonstrates Wärtsilä’s commitment to supply competitive engine products to its customers in China. Furthermore, it is fully aligned with China’s central government’s 12th Five-Year Plan to significantly increase locally produced content for marine equipment,” adds James Han, President of Wärtsilä China.

“Yuchai is proud to be in partnership with Wärtsilä, a world leader in providing engine and power solutions. We share the same commitment to serving the growing Chinese market with products that deliver the best economic and environmental value to our customers", said Mr. Yan Ping, Chairman of Guangxi Yuchai Group.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Asia Tankers-VLCC Rates Expected to Soften

MidEast rates slip from two-week high on June 28; raft of new ships and repaired vessels weigh on rates. Freight rates for very large crude carriers (VLCCs)

Boskalis Bags Aberdeen Offshore Windfarm Deal

Royal Boskalis Westminster N.V. (Boskalis) has been appointed the preferred Offshore Balance of Plant contractor by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

Gibdock Overhauls Solstad Cutter Propulsion System

Gibraltar’s Gibdock shipyard has completed an extensive package of work on Solstad Shipping’s Normand Cutter. The 127m long, 10,979grt construction support vessel

Marine Power

Red Funnel Catamaran Powered by MTU Engines

The latest addition to the British Red Funnel ferry fleet, Red Jet 6, completed first sea trials in June 2016 and will go into service in July. The high-speed catamaran

Gibdock Overhauls Solstad Cutter Propulsion System

Gibraltar’s Gibdock shipyard has completed an extensive package of work on Solstad Shipping’s Normand Cutter. The 127m long, 10,979grt construction support vessel

India: Big Push on Coastal Shipping of Thermal Coal under Sagarmala

The State Government of Odisha will partner the Ministry of Shipping for taking ahead the ‘port-led development’ agenda under Sagarmala, the flagship program of the Ministry.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0707 sec (14 req/sec)