Wärtsilä and CSSC teams to create joint venture company in China
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed a letter of intent (LOI) to create a joint venture company in China to focus on the country's evolving market for electrical & automation (E&A) solutions for marine applications.
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed a letter of intent (LOI) to create a joint venture company in China to focus on the country’s evolving market for electrical & automation (E&A) solutions for marine applications.
The joint venture, which will involve sales, marketing, engineering and project management for the E&A market, is scheduled to be operational at the beginning of next year.
The full detail of the range of scopes under the joint venture by the companies is yet to be ellaborated.
Wärtsilä CEO Jaakko Eskola said: "Wärtsilä has a leading position in supplying E&A systems for high-end and offshore vessel applications.
"Wärtsilä has a leading position in supplying E&A systems for high-end and offshore vessel applications."
"By combining our strengths in this field with the strong market position of CSSC, we can provide Asian owners and yards with the best possible solutions supported by local presence and capabilities."
Wärtsilä and CSSC had an earlier account of partnerships in establishing joint venture companies like the Zhenjiang Propeller formed in 2004 which had produced fixed and controllable pitch ship propellers.
2014 had witnessed the formation of CSSC Wärtsilä Engine (Shanghai) locally manufacturing medium and large bore, medium speed, and diesel and dual-fuel Wärtsilä engines.
Last year, the companies had partnered to form Winterthur Gas & Diesel (WinGD) which had assumed the responsibility of the technical development and sales of Wärtsilä’s range of 2-stroke, low speed marine engines.
Image: Wärtsilä and CSSC staff. Photo: courtesy of Wärtsilä.