VW Struggles With Sale of MAN Energy Solutions
By Aaron Kirchfeld (Bloomberg) Volkswagen AG is disappointed with the offers so far for its MAN Energy Solutions division, which makes diesel engines for ships and power generators, according to...
Wärtsilä said today that it has signed a ten year extension to a license agreement with Hyundai Heavy Industries’ Engine and Machinery Division to build Wärtsilä low-speed engines. The agreement, signed at a ceremony on February 28 in Ulsan, South Korea, extends the partnership until at least 2021.
Wärtsilä says that HHI’s Engine and Machinery division has been a licensee of Wärtsilä since 1975, building more than 22,800 MW of Wärtsilä licensed engines.
“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,” said Martin Wernli, President, Wärtsilä Switzerland and Vice President, Product Centre 2-stroke.
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.
“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” added JH Kim, Sr. Executive Vice President and Chief Operating Officer of HHI Engine and Machinery Division.
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