Wärtsilä's JV with CSSC to Expands Engines Range
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co. Ltd factory will be located at Lingang, Shanghai and is expected to have its first engine ready for delivery by the end of 2015. The company will in particular target the growing offshore and LNG markets, as well as the market for very large container vessels. The Wärtsilä share of the joint venture is 49 per cent and the size of Wärtsilä's equity investment is approximately EUR 12 million. The new joint venture company, CSSC Wärtsilä Engine (Shanghai) Co.
Wärtsilä Opens Propeller Factory in China
Wärtsilä's joint venture company in China, Wartsila CME Zhenjiang Propeller Co Ltd., inaugurated its new propeller factory at Zhenjiang in Jiangsu province. The new factory is expected to double Wärtsilä's capacity to manufacture this type of propellers. During the past ten years the output has increased by 500 percent. In 2007 up to May, there are 425 vessels contracted in China, which is 45 percent of the global vessel order intake, ranking China number one in the world. The new factory has more than doubled the annual production output to 6,500 tons of propellers. The new maximum size of propeller that can be produced at the new factory is suitable for the world's largest container ships that are currently envisaged with propellers individually weighing up to as much as 140 tons.
