European Commission’s clearance for the joint venture of Wärtsilä, China Shipbuilding Industry Corporation and Mitsubishi Heavy Industries

Wartsila Corporation
  • Press release
26 April 2007 at 3:01 AM E. Europe Standard Time

Wärtsilä Corporation Press release 26 April 2007

The European Commission’s competition authorities have cleared the joint venture being formed by Wärtsilä, China Shipbuilding Industry Corporation (CSIC) and Mitsubishi Heavy Industries (MHI).

The joint venture will manufacture large low-speed marine engines in China. CSIC’s ownership in the the joint venture will be 50%, Wärtsilä’s 27% and MHI’s 23%. The production is expected to start in the fourth quarter of 2008.

For further information please contact Ms Eeva Kainulainen, VP, Corporate Communications, Wärtsilä, phone +358 10 709 5235.

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