GOTEBORG, Sweden, August 18, 2003 (PRIMEZONE) -- Volvo (Nasdaq:VOLVY)(Other OTC:VOLVF) (Other OTC:VOLAFK)and Wartsila (Other OTC:WRTAF) are planning future cooperation regarding service and delivery of marine diesel engines for commercial shipping. The cooperation will be initiated in a number of selected markets, with global coverage planned thereafter.
Through a broadening of its product program, Volvo Penta has increased its total product offering for commercial shipping. With engines up to 2,000 hp, Volvo Penta's engines -- both main and auxiliary -- are installed in increasing larger vessels within this business segment.
Wartsila's marine engines are considerably larger than these, the largest having outputs of more than 100,000 horsepower (80,000 MW). Wartsila is the world's leading supplier of ship power and propulsion systems. The respective product ranges of the two companies complement each other very well.
The planned cooperation between the companies means that Wartsila will sell and provide service for Volvo Penta's auxiliary engines and marine gensets. The combination of Wartsila's propulsion engines and Volvo Penta's marine gensets will create a broad customer offering within commercial shipping.
"The cooperation strengthens Volvo Penta's position as an engine supplier within commercial shipping," says Goran Gummeson, responsible for Volvo Penta's marine engines. "Wartsila has a worldwide reputation in the industry, in terms of products as well as service, and we believe that through this cooperation we can strengthen both companies' total customer offering."
"Including the largest Volvo Penta marine engines in our product and service offering marks a significant step for Wartsila," commented Tage Blomberg, Group Vice President, Service Division at Wartsila.
Volvo Penta's engine deliveries to Wartsila will comprise mainly the engines in the power range of 300 to 2,000 hp. The cooperation solely involves Volvo Penta's marine commercial activities.
For further information please contact Mats Edenborg, AB Volvo Penta, Corporate Communication, phone +46 31 66 83 11 or Tage Blomberg, Wartsila, phone: +358 10 709 2424.
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