China State Shipbuilding Corp. (CSSC) and Wärtsilä announced that Wärtsilä has transferred its 30% shareholding in Winterthur Gas & Diesel Ltd (WinGD) to CSSC, one of the largest Shipping conglomerates in China.
“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 Mr. Martin Wernli, CEO of WinGD.
The WinGD-CSSC relationship is one that will allow WinGD to demonstrate a well proven track record in the design and development of modern two-stroke diesel engines.
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/20062016/wartsila-transfers-shareholding-to-cssc-2659/