Wärtsilä and Mitsubishi renew co-operation ag...

Wärtsilä Corporation, Press release, 12 February 2009, at 9 am (EET)

Wärtsilä and Mitsubishi Heavy Industries Ltd have signed a ten-year
renewal of the existing co-operation agreement for the sale,
manufacturing and servicing of Wärtsilä low-speed marine diesel
engines. Mitsubishi is the longest-standing member of the Wärtsilä
family of low-speed engine licensees. The renewal was signed on the
84th anniversary of the signing of the first licence by Mitsubishi
for Sulzer low-speed marine engines on 14 January 1925. Sulzer diesel
engines were incorporated in the Wärtsilä engine programme in 1997.

The licence co-operation agreement is a basis for the exchange of
diesel engine technology between Wärtsilä and Mitsubishi, defining
and regulating intellectual property rights, and the delivery and
feedback of technical information and support. Such licence
agreements allows synergies to the participating companies of
aggregating research, development and design with the licensor while
distributing and localising manufacture to licensees in separate
countries.

Wärtsilä and Mitsubishi look back on a most successful, fruitful
relationship. Besides building many engines of Sulzer and most
recently Wärtsilä designs, Mitsubishi has over the years also
contributed to the development of Sulzer and Wärtsilä low-speed
engines and often built the first examples of new engine types.

The relationship between the two companies was taken a stage further
in 2005 with the formation of a strategic alliance in the field of
two-stroke diesel engines. Under this alliance, the two companies
agreed to share resources and experience for improved business. In
2006, Wärtsilä and Mitsubishi joined with China Shipbuilding Industry
Corporation to establish a new, major factory for low-speed marine
engines at Qingdao, China, through the joint venture Qingdao Qiyao
Wärtsilä MHI Linshan Marine Diesel Co Ltd (QMD). A further joint
project was agreed in 2008 between Wärtsilä and Mitsubishi for the
design and development of new small, low-speed marine diesel engines.

Related material:
Links to Press Releases.

15 November 2002: Wärtsilä and Mitsubishi join forces in designing
new marine engine

28 September 2005:
Strategic alliance between Wärtsilä Corporation and Mitsubishi Heavy
Industries in two-stroke engines

8 September 2009: Wärtsilä and Mitsubishi announce new, smaller
low-speed marine engines


Media contacts:

Mr Martin Wernli
President
Wärtsilä Switzerland Ltd
Direct tel: [phone]
e-mail: [e-mail]

Ms Tuula Franck
Press Manager
Wärtsilä Corporation
Tel: [phone]
e-mail: [e-mail]



Wärtsilä Corporation in brief
Wärtsilä enhances the business of its customers by providing them
with complete lifecycle power solutions. When creating better and
environmentally compatible technologies, Wärtsilä focuses on the
marine and energy markets with products and solutions as well as
services. Through innovative products and services, Wärtsilä sets out
to be the most valued business partner of all its customers. This is
achieved by the dedication of close to 19,000 professionals manning
160 locations in 70 countries around the world. Wärtsilä is listed on
the Nordic Exchange in Helsinki, Finland.
www.wartsila.com

Mitsubishi in brief
Mitsubishi Heavy Industries Ltd is one of the world's leading
shipbuilders and also a major supplier of a wide-range marine
machinery such as diesel engines, turbines, boilers, propellers, deck
machinery etc., covering high-, medium-, and low-speed diesel
engines, with the related services, for various type of vessels. For
the power generation market, Mitsubishi delivers power plant
solutions from 1 to 1200 MW. In addition Mitsubishi has high-level
independent research and development centres with more than 2,000
qualified researchers who assist the development and design of the
wide range of various products. Mitsubishi's net sales totalled
Japanese Yen 3,200 billion (approx. EUR 20.0 billion) in fiscal year
of 2007 and it has 33,000 employees.
For the low-speed engines, Mitsubishi has been a licensee of the
Sulzer and Wärtsilä types since 1925, and has been the designer of UE
engines for some 50 years as well, enjoying the customers' reputation
on its products.
www.mhi.co.jp


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