Receive our newsletter – data, insights and analysis delivered to you
March 1, 2012

Wärtsilä extends engine license agreement with HHI

Marine solution provider Wärtsilä has extended its licensing agreement with Hyundai Heavy Industries' (HHI's) engine and machinery division for a further ten years in order to build Wartsila low-speed engines.

By admin-demo

Marine solution provider Wärtsilä has extended its licensing agreement with Hyundai Heavy Industries’ (HHI’s) engine and machinery division for a further ten years in order to build Wartsila low-speed engines.

The division has been a licensee of the company since 1975, building more than 22,800MW of Wärtsilä engines.

Wärtsilä Switzerland president and vice president of product centre 2-stroke Martin Wernli said with the renewed agreement the company has a strong platform for intensifying its fruitful cooperation, and promoting its products to the future generation of ocean-going merchant ships.

Under the deal, HHI will build and sell the full range of Wärtsilä RTA, RT-flex, and X-series low-speed marine diesel engines within its specified territory.

HHI Engine and Machinery Division senior executive vice president and chief operating officer JH Kim said during recent years, Wärtsilä and HHI have expanded their cooperation, which will generate mutual strengths in the coming years.

In November last year, the company signed a ten-year extension to a license agreement with its Korean partner Doosan Engine to build similar engines.

Doosan Engine, along with its predecessor licence holders Korea Heavy Industries and Samsung Heavy Industries, has been a long standing licensee of the company, and has produced about 400 engines with a total power of over 20,000,000BHP.

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

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

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU