Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed a Letter of Intent to establish a new joint venture (JV) company. The new JV will focus on China's growing market for electrical & automation (E&A) solutions for marine applications.
The Letter of Intent was signed by Wärtsilä CEO Jaakko Eskola and Mr Wu Qiang, President of CSSC at a ceremony in Shanghai on 16 March.
The planned activities of the JV will include sales, marketing, engineering and project management for the E&A market. However, following the signing of the Letter of Intent, the full scope of the company's operations will be further defined.
The JV company is expected to be operational at the beginning of 2017.
Picture: Wärtsilä and CSSC to establish new E&A joint venture in China. Jaakko Eskola, CEO of Wärtsilä and Wu Qiang, President of CSSC in the middle.
