Finnish engineering company Wärtsilä and China State Shipbuilding Corporation (CSSC) have inked a Letter of Intent to form a new joint venture that will focus on China’s growing market for electrical and automation (E&A) solutions for marine applications.
The planned activities of the joint venture include sales, marketing, engineering and project management for the E&A market. However, the full scope of the company’s operations is yet to be defined. The JV is expected to be operational at the beginning of 2017.
“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,” Jaakko Eskola, Wärtsilä’s CEO says.
The two companies are already partners in three joint ventures. Wärtsilä CME Zhenjiang Propeller Co Ltd (WCME), a company focused on the manufacturing of fixed and controllable pitch ship propellers, was jointly formed in 2004. In 2014, CSSC Wärtsilä Engine (Shanghai) Co Ltd (CWEC) was established for the local production of medium and large bore, medium speed, diesel and dual-fuel Wärtsilä engines.
The third joint venture company, formed in 2015 by CSSC and Wärtsilä, is Winterthur Gas & Diesel (WinGD), specializing in the technical development and sales of Wärtsilä’s range of 2-stroke, low-speed marine engines.