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Industry News
Wärtsilä Enters Rail Market
Wärtsilä has signed a joint venture agreement with Transmashholding (TMH), a Russian company, to manufacture modern and multipurpose diesel engines in Russia. The engines will be used in shunter locomotives and for various marine and power applications.
The two companies will jointly engineer the railway application, and evaluate the possibility of developing and manufacturing other diesel engine models in the future. According to the agreement, Wärtsilä and TMH will establish a 50/50 holding company to set up and operate a new engine factory in Penza, Russia, for assembling and testing engines and creating larger engine components.
Annual production is estimated at about 250 to 300 engines targeted primarily toward the Russian market. Production is expected to start in 2012. The value of the joint venture is €30 million (US$36.8 million).
For more information: www.wartsila.com
Thursday, May 27, 2010
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DIESEL & GAS TURBINE WORLDWIDE
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