Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine diesel engines. Wärtsilä's shares in the joint venture will be transferred to the current majority shareholder, Qingdao Qiyao Linshan Power Development Co. Ltd., a company fully owned by China Shipbuilding Industry Corporation. The agreement was signed today in Beijing, China. Wärtsilä said the value of the transaction is not significant, and the deal will have a positive effect on Wärtsilä's continuing operations but the impact is not significant. The closing of the transaction is subject to the required regulatory approvals.
