Chinese Company Acquires Stake in WinGD

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In a move to become market leaders in the two stroke speed engine manufacture business, CSSC, one of the largest shipping companies in China, has acquired a 30% shareholding in Wintherthur Gas and Diesel (WinGD) from Wärtsila, whereby WinGD will continue as an independent, international company to develop and innovate its two-stroke low-speed marine engine portfolio.  WinGD is one of the earliest exponents of diesel technology and is headquartered in Switzerland.  The work on this project started last year while the joint venture itself was announced in July, 2014.

“The sell-off will enable us to establish closer ties with CSSC and accelerate the development of two-stroke low-speed engines meeting the market demands of merchant shipping of the future.  WinGD will continue to work with the Wärtsilä Corporation Service Network for after-sales support,” said Martin Wernli, CEO of WinGD.

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Source: Winterthur Gas & Diesel

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