Nordic Business Report-September 27, 2006-Wartsila Corporation secures propeller order in China
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The Finnish power solutions provider Wartsila Corporation said on Wednesday (27 September) that its Chinese joint venture, Wartsila CME Zhenjiang Propeller Company Ltd, has secured an order for 50 fixed-pitch propellers.
The EUR17m order was awarded jointly by the shipyards New Century Shipyard and New Times Shipbuilding Co Ltd, in the Jiangsu province in China.
Wartsila CME Zhenjiang Propeller Company is 55%-owned by Wartsila and 45%-owned by Zhenjiang CME Co Ltd, a subsidiary of China State Shipbuilding Corporation.
One euro (EUR) is worth approximately 0.67 British pounds (GBP).
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