Wärtsilä: License Agreement Extension with Korean Partner
Wärtsilä and its Korean partner, Doosan Engine Co. Ltd, a member of the Doosan Group, have signed a 10-year extension to the licensing agreement to build Wärtsilä low-speed engines. The agreement renewal covers the period from 2012 to 2021. Doosan Engine Co. Ltd, along with its predecessor licence holders Korea Heavy Industries and Samsung Heavy Industries, has been a long standing licensee of Wärtsilä, altogether for 28 years. It has produced close to 400 engines with a total power of over 20,000,000 BHP. Doosan Engine is the second biggest engine manufacturer in the world. Under the terms of the agreement, the licensee is authorised to manufacture and sell Wärtsilä low-speed marine diesel engines within its specified territory.
Daewoo Heavy May Join Engine Joint Venture
Daewoo Heavy Industries Co. has reportedly expressed willingness to join Korea Heavy Industries and Construction Corp. in a planned ship engine joint venture. Executives from Daewoo, Korea Heavy and Samsung Heavy Industries Co. are to meet Dec. 4 to discuss Daewoo's proposal to join the venture. Korea Heavy and Samsung have agreed to set up a 60-40 joint venture that will take over ship engine manufacturing operations of the two companies starting on Jan. 1. Daewoo Heavy officials confirmed it had expressed its intention to join the venture, but did not give more information.
Koreans Consider Marine Propulsion Consolidation
Korea Heavy Industries and Construction Corp. said Daewoo Heavy Industries has expressed willingness to join it in a planned ship engine joint venture. A spokesman for the government-run machinery manufacturer said executives from Daewoo, Korea Heavy and Samsung Heavy Industries were due to meet to discuss Daewoo's proposal to join the venture.
