Russian Zvezdochka Shipyard and Wartsila to Sign Joint Venture Agreement

Russian Zvezdochka Shipyard and Finland’s Wartsila are intending to sign a joint venture agreement in February-March 2012.

Relying on its propeller production, Zvezdochka Shipyard will establish a center of propulsion systems manufacturing. The center will combine the production capabilities of the Severodvinsk shipyard and its affiliates Design Bureau “Screw” and pilot plant “Vega”.

Zvezdochka Shipyard based in Severodvinsk is a diversified shipbuilding enterprise. It has two covered slipways with 7 shipbuilding sites which are designed for overhaul and construction of vessels with a launching weight of up to 18,000 tons. The firm is majority owned by Northern Shipbuilding and Ship Repair Center, part of JSC United Shipbuilding Corporation.

Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasizing technological innovation and total efficiency, Wärtsilä maximizes the environmental and economic performance of the vessels and power plants of its customers. In 2010, Wärtsilä’s net sales totaled EUR 4.6 billion with 17,500 employees. The company has operations in 160 locations in 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.

Shipbuilding Tribune Staff, December 21, 2011;

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Posted on December 21, 2011