Wärtsilä to Start Propeller Manufacture in China
Wärtsilä will begin manufacturing propellers in China. Wärtsilä's wholly owned company Wärtsilä Propulsion and Zhenjiang CME Co. Ltd (CME), wholly owned by the China State Shipbuilding Corporation (CSSC), have today signed a contract to establish a joint venture company. The company will be 55%-owned by Wärtsilä and 45%-owned by CME and its name will be Wärtsilä-CME Zhenjiang Propeller Co. Ltd. "China's shipbuilding industry is growing rapidly and 15% of new ships are currently built in the country. China also is developing into a significant production country for ship equipment. The propeller manufacturing in China is Wärtsilä's first step in developing its production in this growing market", says Wärtsilä's President and CEO Ole Johansson.
Wärtsilä to start propeller manufacture in China
Wärtsilä will begin manufacturing propellers in China. and Zhenjiang CME Co. signed a contract to establish a joint venture company. 45%-owned by CME and its name will be Wärtsilä-CME Zhenjiang Propeller Co. Ltd. "China's shipbuilding industry is growing rapidly and 15% of new ships are currently built in the country. also is developing into a significant production country for ship equipment. CEO Ole Johansson. CSSC is the leading shipbuilding corporation in China. competitive component suppliers for increasingly demanding ships. opportunities in the global market. The company will produce LIPS and Kaida brand propellers. world. The joint venture will commence operations in CME's premises in Zhenjiang some 220 km west of Shanghai. be the design and manufacturing expertise.
Wärtsilä' Starts Prop Production in China
The joint venture company set up by Wärtsilä and CSSC (China State Shipbuilding Corporation) in China to design, manufacture and deliver Fixed Pitch Propeller (FPP) packages has officially started operating at the beginning of June 2004. The new company, called Wärtsilä-CME Zhenjiang Propeller Co. Ltd, is 55%-owned by Wärtsilä and 45%-owned by Zhenjiang CME Co. Ltd (CME), the latter being a wholly owned subsidiary of the CSSC. The move comes at the right time for Wärtsilä as the focus of the world's shipbuilding industry shifts heavily to Asia…
