Vinashin signed a license agreement
Wärtsilä and Vietnam Shipbuilding Industry Corporation (Vinashin) signed a license agreement for the manufacture and sale of Wärtsilä low-speed marine engines in Vietnam, MarineLink reported. The agreement was signed by Pham Thanh Binh, Chairman & CEO of Vinashin and Mr Martin Wernli, President of Wärtsilä Switzerland Ltd. The agreement grants Vinashin the right to manufacture certain types of Wärtsilä modern low-speed engine types between 48 and 82 cm bore size at their works in Vietnam. The first delivery of a Wärtsilä engine is scheduled for the beginning of 2010, with production building up to a targeted annual output of 30 to 40 engines. At the same time Wärtsilä Corporation announced it is expanding its representation in Vietnam by opening a branch office today in Hanoi. Vietnam is a rapidly-growing market for Wärtsilä’s products and services to the shipping, shipbuilding and power industries.