South Korea: Wartsila Inks Licence Agreement Extension with Doosan Engine

Wärtsilä, the marine industry’s leading solutions provider, and its Korean partner, Doosan Engine Co. Ltd, a member of the Doosan Group, have signed a ten year extension to the licensing agreement to build Wärtsilä low-speed engines. The agreement renewal covers the period from 2012 to 2021.

Doosan Engine Co. Ltd, along with its predecessor licence holders Korea Heavy Industries and Samsung Heavy Industries, has been a long standing licensee of Wärtsilä, altogether for 28 years. It has produced close to 400 engines with a total power of over 20,000,000 BHP. Doosan Engine is the second biggest engine manufacturer in the world.

Under the terms of the agreement, the licensee is authorised to manufacture and sell Wärtsilä low-speed marine diesel engines within its specified territory. The full range of Wärtsilä RTA, RT-flex, and X-series marine engines are included in the scope of the agreement.

We are very pleased to renew this agreement with our business partner in Korea. Doosan Engine is a major global producer of large marine diesel engines, and this agreement strengthens our partnership in promoting Wärtsilä brand low-speed engines in the territory. Our expectations are high for increasing our market share in the Korean market, and we are confident that by extending this agreement for a further ten years, our goals can be achieved,” says Mr Martin Wernli, President, Wärtsilä Switzerland, Vice President, Product Centre 2-stroke.

Wärtsilä in Switzerland is the centre for the company’s 2-stroke engine R&D and business operations.

By renewing this licence agreement, both companies will continue their close co-operation in providing the latest technology low-speed engines to the rapidly changing shipbuilding market. It is a win-win growth opportunity for both companies, and will certainly strengthen their market positions,” says Mr Sung-Hee Lee, President & CEO of Doosan Engine Co. Ltd.

The agreement was signed at a ceremony held on 7 November 2011 at the headquarters of Doosan Engine Co. Ltd in Changwon, South Korea.

Shipbuilding Tribune Staff, November 15, 2011; Image:wartsila

Share this article

Follow World Maritime News

Posted on November 15, 2011

In Depth>

Events>

<< May 2015 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Port Finance International Mexico 2015

Given the successful gathering last June of our 1st Port Finance International Mexico & LATAM, PFI will be holding the 2nd Mexican & LATAM PFI Forum.

This conference is a meeting point to understand Mexicans ports current and future opportunities and find solutions to challenges.

Mexico’s port development and operations is currently thriving, with great opportunities of product and service provider companies to access high value opportunities.

Mexico’s Infrastructure investment has grown from 3% of GDP in 2000 to nearly 5% in 2012.

A National Program has been launched, devoting nearly £65 billion to help modernize and develop four leading ports, construct ten specialized terminals and grow Mexico’s cargo handling capacity by 60%.

There has been a £2.9 billion investment into expanding the port of Veracruz which will increase the port’s terminals from 18 to 28 and enhance its cargo capacity to 116 million tons.

More info

read more >

Basic Dry Dock Training

The course begins with the basics and safety concerns, and progresses through all phases of dry docking: preparation, docking, lay period…

read more >

IMPA Singapore

The event will have a total focus on maritime procurement, featuring a high-level conference, IMPA’s Developing Skills in Procurement…

read more >

Offshore Accommodation and Access

Asia’s ONLY Event on Offshore Accommodation

Offshore Accommodation and Access is the only event in Asia that provides you the key to find cutting-edge accommodation solutions for your offshore personnel. Get the latest outlook from key players as well as technical, commercial and operational perspectives that drive the market.

More info

Contact Details:
Email: register@ibcasia.com.sg
Telephone: +65 6508 2401
Fax: +65 6508 2407
Mail: IBC Asia (S) PTE LTD, 111 Somerset Road, TripleOne Somerset #10-06 Singapore 238164

read more >