Wärtsilä extends license agreement with long-term partner Hyundai Heavy Industries
(Thomson Reuters ONE) -
Wärtsilä Corporation, Trade and Technical Press Release, 29 February 2012
at 2.30 pm EET
Wärtsilä, the marine industry's leading solutions provider, and its South Korean
partner Hyundai Heavy Industries, Engine and Machinery Division, have signed a
ten year extension to their license agreement to build Wärtsilä low-speed
engines. The agreement was signed at a ceremony held on 28 February 2012 in
Ulsan and covers the period from 2012 to 2021.
Hyundai Heavy Industries (HHI), a part of the biggest shipbuilding cluster in
the world, has through its Engine and Machinery Division been a licensee of
Wärtsilä since 1975. During these 37 years, the total power volume of the
Wärtsilä licensed engines built by HHI exceeds 22,800 MW. Under the terms of the
newly signed agreement, HHI is licensed to manufacture and sell the full range
of Wärtsilä RTA, RT-flex, and X-series low-speed marine diesel engines within
its specified territory.
"We are pleased to renew our license agreement with HHI, which is the world's
largest marine engine builder and our long-standing business partner in South
Korea. With the renewed agreement we have a strong platform for intensifying our
fruitful co-operation, and promoting our products to the future generation of
ocean-going merchant ships," says Mr Martin Wernli, President, Wärtsilä
Switzerland and Vice President, Product Centre 2-stroke.
"At HHI we are happy to sign the renewal of the license agreement and see the
smooth continuation of the long-standing business relationship and fruitful co-
operation between the two companies. During recent years, Wärtsilä and HHI have
expanded their co-operation which, I am convinced, will generate mutual
strengths in the coming years," says Mr JH Kim, Sr. Executive Vice President and
Chief Operating Officer of HHI Engine and Machinery Division.
Image of the signing ceremony
In the image:
Left side of table from front to back:
Mr JT. Kim, Executive Vice President, HHI; Mr JH. Kim Sr. Executive Vice
President and Chief Operating Officer; HHI; Mr KD. Chang, Sr. Vice President,
HHI and Mr CH. Lee, General Manager, HHI.
Right side of table from front to back:
Mr YU.Park, General Manager Wärtsilä Korea; Mr Eero Markkinen, License Director,
Korea; Mr Martin Wernli, President of Wärtsilä Switzerland; Mr Rolf Stiefel,
Sales Director, Wärtsilä Ship Power Merchant.
For further information please contact:
Mr Martin Wernli
President, Wärtsilä Switzerland,
Vice President, Product Centre 2-stroke
Tel. +41 52 262 2686
martin.wernli(at)wartsila.com
Ms Tuula Franck
Senior Manager, Media and Stakeholder Relations
Wärtsilä Corporation
Tel. +358 400 267 555
tuula.franck(at)wartsila.com
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 2011, Wärtsilä's net sales
totalled EUR 4.2 billion with approximately 18,000 employees. The company has
operations in nearly 170 locations in 70 countries around the world. Wärtsilä is
listed on the NASDAQ OMX Helsinki, Finland.
www.wartsila.com
Image of the signing ceremony:
http://hugin.info/131481/R/1590054/499462.jpg
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originality of the information contained therein.
Source: Wärtsilä Oyj Abp via Thomson Reuters ONE
[HUG#1590054]
Unternehmensinformation / Kurzprofil:
Datum: 29.02.2012 - 13:31 Uhr
Sprache: Deutsch
News-ID 120078
Anzahl Zeichen: 4289
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Wärtsilä extends license agreement with long-term partner Hyundai Heavy Industries"
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