Wärtsilä and United Shipbuilding Corporation sign Memorandum of Understanding for co-operation

Wärtsilä Corporation, Trade press release 2 November 2010 at 14:00 UTC+2

Wärtsilä, a global leader in complete lifecycle power solutions for the marine and energy markets, and United Shipbuilding Corporation (Sudoexport), Russia’s leading shipbuilder, have signed a Memorandum of Understanding. Both parties have expressed the mutual interest to establish joint set-ups in the areas of developing modern ship designs and manufacturing of propulsion systems.

The long-term strategic partnership between United Shipbuilding Corporation and Wärtsilä is aimed to combine the joint expertise of both companies to meet customers’ challenging requirements in building of modern and efficient vessels.

Wärtsilä’s first representative office in Russia was established in 1979. Today, Wärtsilä Vostok LLC employs more than 130 people in its St. Petersburg head office and its branch offices in Moscow, Vladivostok and Murmansk.

United Shipbuilding Corporation is the company formed to integrate the major Russian shipbuilding and ship repair yards, as well as the design bureaus, that together account for more than 70 per cent of all Russian shipbuilding facilities. www.oaoosk.ru

Sudoexport acts in the interests of the United Shipbuilding Corporation in terms of business development with foreign partners. www.sudoexport.ru

For further information, please contact:

Mr Dmitry Firsov
Managing Director
Wärtsilä Vostok
Tel: +7 812 4483248

Mr Erik Pettersson
Vice President, Strategic Ventures
Wärtsilä Corporation
Tel: +358 10 7092122

Wärtsilä in brief
Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2009, Wärtsilä’s net sales totalled EUR 5.3 billion with more than 18,000 employees. The company has operations in 160 locations in 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.   www.wartsila.com