China State Shipbuilding Corporation (CSSC) and Wärtsilä have announced that Wärtsilä has transferred its 30% shareholding in Winterthur Gas & Diesel (WinGD) to CSSC, one of the two state run shipbuilding conglomerates in China.
WinGD will continue as an independent, international company to develop and innovate its two-stroke low-speed marine engine portfolio serving merchant markets and customers worldwide.
Wärtsilä and CSSC launched the 2-stroke engine joint venture in January 2015.
“With the transfer of the shares in WinGD from Wärtsilä Cooperation to CSSC, we will be able to establish even closer cooperation with one of the leading global shipbuilding conglomerate CSSC enabling us to accelerate the development of reliable, efficient and innovative two-stroke low-speed engines meeting the market demands of merchant shipping of the future. WinGD will continue to work with the Wärtsilä Corporation Service Network to serve our customers for after-sales support,” said Martin Wernli, CEO of WinGD.
In March, Wärtsilä and CSSC signed a letter of intent to establish a new joint venture for electrical & automation solutions for marine applications.