Wärtsilä invested EUR17m in the joint venture, which was established in May 2013 and has assembly lines and test beds in partial operation at its new 266,700 sq m factory. The plant is expected to reach full production by the end of 2016 and will be dedicated to assembling and testing Wärtsilä's medium speed engines.
"As China is the world's major supplier of newbuild ships, the Chinese market plays a central role in Wärtsilä's global growth strategy. 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," said Björn Rosengren, president and ceo of Wärtsilä Corporation.
"We are proud to witness the inauguration of Wärtsilä Yuchai Engine Company. Wärtsilä is a global technology leader in the marine industry with a broad range of high quality offerings with economical and environmental advantages for ship owners and operators. This is a great example of two leading companies working together to create jobs, growth and prosperity," added Gu Tangsheng, president of Yuchai Group.
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