Wärtsilä Moves Marine Production to China

19 January 2010 (Last Updated January 19th, 2010 18:30)

Engineering giant Wärtsilä plans to move the majority of its propeller and auxiliary engine production to China. The company said it is shutting down the Wärtsilä 20 generating set production in Vaasa Finland, which will be moved to China. The non-recurring costs related to th

Engineering giant Wärtsilä plans to move the majority of its propeller and auxiliary engine production to China.

The company said it is shutting down the Wärtsilä 20 generating set production in Vaasa Finland, which will be moved to China.

The non-recurring costs related to the restructuring will be nearly €140m, including non-cash write offs of about €50m, of which €40m is recognised in 2009.

Wärtsilä is hoping for cost savings of approximately €80m-€90m, the company said.