Wärtsilä Yuchai J/V Inaugurate Marine Engine Factory
The Wärtsilä Corporation & Yuchai Marine Power Co., Ltd., Joint Venture (J/V) has inaugurated its new factory in Doumen District, Zhuhai City, Guangdong Province, China. Details as follows:
The new factory covers a total area of 266,700 square meters and will be used for the assembly and testing of Wärtsilä 20, Wärtsilä 26 and Wärtsilä 32 medium speed engines. The assembly lines and test beds are in partial operation already, and the plant is expected to be in full production before the end of 2016.
Wärtsilä and Yuchai Marine Power Co. Ltd. (YCMP), a subsidiary of Guangxi Yuchai Group, established the 50/50 joint venture in May 2013. The joint venture, for which the value of Wärtsilä's investment was approximately EUR 17 million, will strengthen Wärtsilä's competitiveness in the Asian markets and increase its focus on the offshore and special segments in China, the world's largest shipbuilding country.
"As China is the world's major supplier of newbuild ships, the Chinese market plays a central role in Wärtsilä's global growth strategy. By inaugurating another Wärtsilä joint venture in China, we not only demonstrate our strong commitment to this important market, but also take another significant step towards enhancing our presence in the region. Strengthening our local production capacity is an important part of this strategy."
"Through this partnership with Yuchai, China's leading high-speed engine manufacturer and market leader, we are convinced we can serve our customers in China in the best possible way and further reinforce our market leadership position for medium-speed engines," says Björn Rosengren, President and CEO of Wärtsilä Corporation."
Wärtsilä in China
Wärtsilä has been present in China for more than 20 years, through its fully owned subsidiary and long-term licensing agreements. To serve the world's largest shipbuilding region, Wärtsilä has established joint ventures for propeller, auxiliary engines and mid-size medium-speed engine production with strong Chinese industrial groups and a joint venture for automation services.
Wärtsilä also manufactures thrusters at its fully owned company facilities, while low-speed engines are produced by eight licensees and by a joint venture company.
In the marine market Wärtsilä Services provides service and maintenance for its customers from eight locations in China, the largest of which is in Shanghai. In the energy markets, Wärtsilä has delivered power plants producing a total of 3500 MW of electricity to customers in China. Including Wärtsilä joint venture companies, there are currently more than 2000 Wärtsilä employees working in China.