Wärtsilä transfers its share in WinGD to China’s CSSC

20 June 2016

China State Shipbuilding Corporation (CSSC) and Wärtsilä announced that Wärtsilä has transferred its 30% shareholding in Winterthur Gas & Diesel Ltd. (WinGD) to CSSC, one of the largest shipping conglomerates in China. The financial terms were not disclosed.

WinGD will continue as an independent, international company to develop its two-stroke low-speed marine engine portfolio serving all merchant markets and customers worldwide.

WinGD has its headquarters in Winterthur, Switzerland. Originally named Sulzer, the company started the development of large internal combustion engines in 1898. In 1997, the Sulzer engine business was acquired by Wärtsilä. In 2014, CSSC and Wärtsilä formed a 70/30 two-stroke engine joint venture and named it Winterthur Gas & Diesel. The joint venture assumed ownership of Wartsila’s two-stroke engine technology and started operations in 2015.

WinGD two-stroke engines will continue to be serviced by Wärtsilä through their global service network.

Source: Winterthur Gas & Diesel