WÃ¤rtsilÃ¤ Signs 10-year License Extension with HHI
WÃ¤rtsilÃ¤ said today that it has signed a ten year extension to a license agreement with Hyundai Heavy Industries’ Engine and Machinery Division to build WÃ¤rtsilÃ¤ low-speed engines. The agreement, signed at a ceremony on February 28 in Ulsan, South Korea, extends the partnership until at least 2021.
WÃ¤rtsilÃ¤ says that HHI’s Engine and Machinery division has been a licensee of WÃ¤rtsilÃ¤ since 1975, building more than 22,800 MW of WÃ¤rtsilÃ¤ 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, WÃ¤rtsilÃ¤ 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 WÃ¤rtsilÃ¤ 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.
Sign up for our newsletter
Be the First
Join the 65,885 members that receive our newsletter.
Have a news tip? Let us know.