Wärtsilä and Hitachi renew co-operation agreement on low-speed marine diesel engines

Wärtsilä Corporation, Trade press release 12 March 2009 at 10:00 UTC+2

Wärtsilä and Hitachi Zosen Corporation of Japan yesterday signed a ten-year renewal of the existing co-operation agreement for the marketing, sale, manufacturing and servicing of Wärtsilä low-speed marine diesel engines. Hitachi’s low-speed engine business is handled by the group company Hitachi Zosen Diesel & Engineering Co Ltd at its Ariake Machinery Works in Kumamoto Prefecture, Japan.

The licence co-operation agreement is a basis for the exchange of diesel engine technology between Wärtsilä and Hitachi. It defines and regulates intellectual property rights. It also sets out the delivery and feedback of technical information and support. Such licence agreements allow synergies to the participating companies through aggregating research, development and design with the licensor while distributing and localising manufacture to licensees in separate countries.

This is the third renewal of a licence agreement of Wärtsilä concluded in Japan in recent months. The other agreements are with Diesel United Ltd, signed in October 2008, and Mitsubishi Heavy Industries Ltd, signed in January this year. Renewal of these agreements, all for ten years’ validity, at a time of financial and market uncertainties is a clear statement of the confidence in the future for these important licence relationships.

The partnership with Hitachi goes back to an agreement signed in November 1956. More recently, it was reinforced in 2008 when Hitachi began the manufacture of RT-flex low-speed marine diesel engines which incorporate the very latest electronically-controlled common rail technology. Hitachi is currently focusing on the manufacture of electronically-controlled engines (RT-flex types) and is building a series of RT-flex50 engines for installation in new ships being constructed in China and Brazil.

Media contacts:
Mr Martin Wernli
Wärtsilä Switzerland Ltd
Direct tel: +41 52 262 2686
e-mail: martin.wernli@wartsila.com

Ms Marit Holmlund-Sund
Senior Manager, PR and Marketing Communications
Wärtsilä Corporation
Direct tel: +358 10 709 1439
Direct fax: +358 10 709 1425
e-mail: marit.holmlund-sund@wartsila.com
Internet: www.wartsila.com

Mr. Tomomitsu Yamamoto
Assistant Manager, Public Relations
Hitachi Zosen Corporation
E-mail : yamamoto_t@hitachizosen.co.jp
Direct tel: +81 3 6404 0802
Direct fax:+81 3 6404 0809
Internet: www.hitachizosen.co.jp


Wärtsilä Corporation in brief:
Wärtsilä enhances the business of its customers by providing them with complete lifecycle power solutions. When creating better and environmentally compatible technologies, Wärtsilä focuses on the marine and energy markets with products and solutions as well as services. Through innovative products and services, Wärtsilä sets out to be the most valued business partner of all its customers. This is achieved by the dedication of close to 19,000 professionals manning 160 locations in 70 countries around the world. Wärtsilä is listed on the Nordic Exchange in Helsinki, Finland.

Hitachi Zosen Corporation in brief
Hitachi Zosen is one of leading heavy industry companies in Japan, including the manufacturing and sales of marine diesel engines. Hitachi Zosen also promotes the construction of high-tech information processing systems and the automation and mechanization of production facilities, placing due consideration on both the working environment and environmental conservation and developing our business on a foundation of high technology and reliability. Hitachi Zosen makes every effort to produce products and services that will continually satisfy our customers’ needs.