Wartsila Oyj Abp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Wartsila Oyj Abp Establishes Joint Venture with Yuchai Marine Power
Wartsila Oyj Abp announced that together with Yuchai Marine Power Co. Ltd., a subsidiary of Guangxi Yuchai Group, have signed an agreement in Zhuhai, China to establish a 50/50 joint venture for manufacturing medium-speed marine engines in Zhuhai City, Guangdong Province. The joint venture will serve the Chinese shipbuilding industry, with the focus being on the assembly and testing of Wartsila 20, Wartsila 26 and Wartsila 32 engines. Operations are planned to start in 2014. The value of Wartsila's investment in the joint venture is approximately EUR 17 million. The joint venture is subject to approval by the relevant authorities.
Latest Developments for Wartsila Oyj Abp
- Wartsila issues FY 2014 guidance in line with analysts' estimates
- Wartsila to realign its organization including reduction of about 1,000 employees globally
- Wartsila confirms no ongoing discussions with Rolls-Royce
- Wartsila Oyj Abp Specifies Downwards FY 2013 Net Sales Guidance and Maintains FY 2013 Operating Profitability Outlook
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