Wartsila extends engine licence agreement with Doosan

17 November 2011 (Last Updated November 17th, 2011 18:30)

Wartsila has extended its licensing agreement with its Korean partner Doosan Engine for a further ten years in order to build Wartsila low-speed engines.

Wartsila has extended its licensing agreement with its Korean partner Doosan Engine for a further ten years in order to build Wartsila low-speed engines.

As per the deal, the licensee is authorised to build and sell Wartsila low-speed marine diesel engines within its specified territory.

The company said that a full range of Wartsila RTA, RT-flex and X-series marine engines are included under the deal.

The licence agreement has been extended from 2012 to 2021.

Doosan Engine president and CEO Sung-Hee Lee said, "By renewing this licence agreement, both companies will continue their close co-operation in providing the latest technology low-speed engines to the rapidly changing shipbuilding market."

"It is a win-win growth opportunity for both companies, and will certainly strengthen their market positions. "