Finnish Wärtsilä and Yuchai Marine Power,a subsidiary of Guangxi Yuchai Group, have established a joint venture for manufacturing medium-speed marine engines in Zhuhai City, Guangdong Province, China.
The 50/50 joint venture will serve the Chinese shipbuilding industry, and focus on the assembly and testing of Wärtsilä 20, Wärtsilä 26 and Wärtsilä 32 engines. Operations are planned to start in 2014.
“Yuchai is proud to be in partnership with Wärtsilä, a world leader in providing engine and power solutions,” said Gu Tangsheng, President of Guangxi Yuchai Group.
“We share the same commitment to serving the growing Chinese market with products that deliver the best economic and environmental value to our customers.”
The joint venture with YCMP is a further step in Wärtsilä’s strategy to increase its focus on the offshore and special segments in China, the world’s largest shipbuilding country.
“By forging a strong partnership with Yuchai, China’s leading producer and market leader for high-speed diesel engines, we can continue to broaden our customer base and further expand our market share in China,” said Björn Rosengren, President and CEO of Wärtsilä.
“This is an important step for securing our market leadership position for medium-speed engines,” he added.