Wärtsilä relinquishes WinGD shareholding

The deal comes almost exactly two years after Wärtsilä announced its plan to sell 70% of its two-stroke engine business to CSSC, an acquisition finalised in January last year.

Martin Wernli, CEO of WinGD, said: “We will be able to establish even closer cooperation with one of the leading global shipbuilding conglomerates, CSSC, enabling us to accelerate the development of reliable, efficient and innovative two-stroke low-speed engines – meeting the market demands of merchant shipping of the future.”

WinGD will continue to work with Wärtsilä’s service network to offer after-sales support to its customers, the company said. The engine developer, which began its two-stroke business in Winterthur, Switzerland in 1898 under the Sulzer brand, noted that it would remain an “independent, international company” serving merchant markets and customers worldwide.