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China in the center of importance

China in the center of importance
Finnish engine giant Wärtsilä has outlined plans to radically shift its operations to China amidst a protracted order downturn.

Finnish engine giant Wärtsilä has outlined plans to radically shift its operations to China amidst a protracted order downturn.

Finnish engine giant Wärtsilä has outlined plans to radically shift its operations to China amidst a protracted order downturn. Wärtsilä, whose ship motors propel one in three of the world"s vessels, climbed the most in 15 months in Helsinki yesterday trading on a plan to cut 1,400 jobs and shift some manufacturing from Europe to China.

Two propeller and component-manufacturing plants in the Netherlands and another site in Finland will close, the Helsinki-based company said.

The measures will move the majority of propeller and auxiliary-engine building to China, following relocation of Wärtsilä"s ship-power unit"s senior management to Shanghai in 2008.

?China has become a strong maritime center and its growth will continue,? Chief Executive Officer Ole Johansson said in a statement. ?By developing our manufacturing footprint and our businesses for the future key markets, Waertsilae will further improve its competitiveness.?

www.TurkishMaritime.com.tr

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