Wärtsilä and China State Shipbuilding Corporation's 2-stroke engine joint venture to start operations

Wärtsilä Corporation, Stock Exchange release, 19 January 2015 at 3.30 pm EET

The joint venture agreement between Wärtsilä and China State Shipbuilding
Corporation (CSSC) for the take-over of Wärtsilä's 2-stroke engine business,
which was announced in July 2014, has now been finalized. The required
government and merger control approvals having been received, official closing
took place on 19 January 2015. The company is owned 70% by CSSC and 30% by
Wärtsilä, and is to be named Winterthur Gas & Diesel Ltd. (WinGD). The head
office of WinGD remains in Winterthur, Switzerland and the company has
subsidiaries in China, South Korea and Japan.

The joint venture assumes ownership of Wärtsilä's 2-stroke engine technology,
and will continue to develop and promote sales of the Wärtsilä 2-stroke engine
portfolio with the full support of both partners. Responsibility for servicing
Wärtsilä's 2-stroke engines will remain with Wärtsilä via its global service
network.

The partnership between two of the marine sector's major players will enhance
the market opportunities for Wärtsilä 2-stroke engines. CSSC is the largest
shipbuilding conglomerate in China and successfully exports ships and related
products worldwide. The synergies of the joint venture will accelerate product
development, thus bringing critical new engine technologies to the market faster
than earlier. Wärtsilä customers will benefit from the greater market
penetration and the worldwide service network that provides lifecycle support.

"The new joint venture company represents an important opportunity for both
partners and we stand at the threshold of a positive future for the Wärtsilä 2-
stroke engine. The global shipping industry is developing with fuel economy and
environmental compliance as its driving forces. The combination of Wärtsilä's
technical leadership and CSSC's industrial strength will support the aim of
WinGD to serve the industry with advanced products," says Mr Martin Wernli, CEO,
WinGD.


Link to the Stock Exchange release published 18 July 2014
Wärtsilä and China State Shipbuilding Corporation to join forces in 2-stroke
engine joint venture


Link to image
Caption: Logo of Winterthur Gas & Diesel Ltd.


Media contacts:

Jaakko Eskola
Senior Executive Vice President & President, Ship Power
Wärtsilä Corporation
Tel. +86 21 5858 5500
jaakko.eskola@wartsila.com

Atte Palomäki
Executive Vice President, Communications & Branding
Wärtsilä Corporation
Tel. +358 10 709 5599
atte.palomaki@wartsila.com

For investor information, please contact:

Natalia Valtasaari
Director, Investor Relations
Wärtsilä Corporation
Tel: +358 10 709 5637
natalia.valtasaari@wartsila.com



Wärtsilä in brief:
Wärtsilä is a global leader in complete lifecycle power solutions for the marine
and energy markets. By emphasising technological innovation and total
efficiency, Wärtsilä maximizes the environmental and economic performance of the
vessels and power plants of its customers.
In 2013, Wärtsilä's net sales totalled EUR 4.7 billion with approximately
18,700 employees. The company has operations in more than 200 locations in
nearly 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX
Helsinki, Finland.
www.wartsila.com

Winterthur Gas & Diesel Ltd. in brief:
Winterthur Gas & Diesel Ltd. (WinGD) is a leading developer of two-stroke low-
speed gas and diesel engines used for propulsion power in merchant shipping.
WinGD's target is to set the industry standard for reliability, efficiency, and
environmental friendliness. WinGD provides design, licenses and technical
support to manufacturers, shipbuilders, and ship operators worldwide. The
engines are sold under the Wärtsilä brand name and are manufactured under
license in four shipbuilding countries. WinGD has its headquarters in
Winterthur, Switzerland, where its activities were founded in 1898, and employs
about 350 people worldwide.


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