The shares in QMD, established for the manufacturing of large low-speed marine diesel engines, will be transferred to majority stakeholder Qingdao Qiyao Linshan Power Development, which is owned by China Shipbuilding Industry Corporation (CSIC).
In a company press release, Wärtsilä indicated that, “The deal will have a positive effect on Wärtsilä's continuing operations but the impact is not significant”. Ship Power, 2-stroke vp and md of Wärtsilä Switzerland Martin Mernli said "The move to divest manufacturing assets will free up resources and increase our emphasis on accelerating the development of new engines and advanced technologies.
“In particular, Wärtsilä's unique low-pressure dual-fuel two-stroke engine development, the further expansion of the environmentally friendly Generation X -engines, as well as emission reduction technologies will benefit from this increased focus.”
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