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January 19, 2010

Wärtsilä Moves Marine Production to China

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

By cms admin

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.

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