Asia/Pacific News
Wärtsilä: No New Engine Joint Ventures in China
Wärtsilä Corp. (Wärtsilä) vice president Jaakko Eskola says the company will not enter any more joint ventures with Chinese engine makers, industry news site Tradewinds reports.
The company already has a number of joint ventures and licensing agreements with Chinese firms.
"We don't do them because they're fun, but because you have to have a partner to make engines in China," Eskola said.
"Our existing joint ventures have quite a lot of possibilities to enlarge and we are well ahead of our competition in China."
He said it is possible that Wärtsilä will make deals with Chinese companies in the ship design sector, since the company has expertise in offshore and specialised vessels while its Chinese counterparts are more focused on conventional merchant shipping, making collaboration potentially valuable.
In July, Wärtsilä announced the creation of a joint venture with China State Shipbuilding Corp. (CSSC) for the manufacturing of diesel and dual-fuel engines.
