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 Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

USA Urged Not to Delay Arctic Drilling

The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, reports AP.

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Viking Bags Charter Deal for AHTS Brage Viking

Viking Supply Ships has entered into a contract with an Oil major for the charter of “Brage Viking” commencing 1stof April 2015. The duration is for 2 years and 8 months firm,

Marine Power

Obangame Express 2015 Concludes in the Gulf of Guinea

Maritime forces from Gulf of Guinea nations, Europe, South America, and the United States and several regional and international organizations concluded the multinational maritime exercise,

USA Urged Not to Delay Arctic Drilling

The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, reports AP.

US Navy to Roll out Underwater Spy Satellites

The robotic series that remade crusade in skies will shortly extend to a low sea, with underwater view “satellites,” drone-launching pods on a sea building and unmanned ships sport submarines,

 
 
Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1157 sec (9 req/sec)