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Wärtsilä Oyj Abp Wärtsilä Corporation, Press release, 6 August 2008 at 6 am (EET)
Wärtsilä-Hyundai Engine Company Ltd., the new joint venture between Wärtsilä and Hyundai Heavy Industries in South Korea, has received a major order. The order calls for a total of 16 Wärtsilä 50DF engines for four ships to be built by Samsung Heavy Industries. The contract also includes an option of four more engines for a fifth vessel. The order is recorded in the order book of Wärtsilä-Hyundai Engine Company Ltd.
The engines are to be installed on so called Floating Production Storage Offloading (FPSO) vessels ordered by FLEX LNG. The first engine will be delivered in February 2010.
The Wärtsilä 50DF dual-fuel engine represents a pioneering industry change from traditional steam turbine machinery to a dual-fuel-electric concept with the benefits of much better operating economy and lower exhaust emissions. The engine can run on either natural gas, marine diesel oil (MDO) or on heavy fuel oil (HFO). Furthermore, the engine can smoothly switch between fuels during engine operation and is designed to give the same output regardless of the fuel used.
Wärtsilä Corporation and Hyundai Heavy Industries Co. Ltd (HHI) established the 50/50-owned South Korean joint venture, Wärtsilä-Hyundai Engine Company Ltd, in January 2007. The joint-venture manufactures Wärtsilä 50DF dual-fuel engines for LNG (liquefied natural gas) carriers and other marine applications. The 25,000 m2 manufacturing facility, which has a production volume of approximately 120 engines per year, is located in the Deabul Industrial Complex in South Korea. Production began in July, 2008.
Wärtsilä-Hyundai Engine Company has been certified to the ISO 9001 Quality Management System standard. The certificate was issued on July 28, 2008 by the Netherlands-based accreditating authority, DNV certification BV.
The main markets for the dual fuel engines are in South Korea, which currently has a market share exceeding 80 percent of the LNG shipbuilding market.
For further information, please call: Wärtsilä-Hyundai Engine Company Ltd. Mr Michael Lok Director Business Management Daebul Industrial complex, Block 5, Nabuli 611-29, Samho-eup, Yeongam-gun, Jeonlanamdo, Republic of Korea 526-891 Tel: +82-61-9831160 Mobile. +82-10-5097494 michael.lok@wartsila.com
About Wärtsilä Corporation Wärtsilä enhances the business of its customers by providing them with complete lifecycle power solutions. When creating better and environmentally compatible technologies, Wärtsilä focuses on the marine and energy markets with products and solutions as well as services. Through innovative products and services, Wärtsilä sets out to be the most valued business partner of all its customers. This is achieved by the dedication of more than 17,000 professionals manning 160 Wärtsilä locations in 70 countries around the world. Wärtsilä is listed on The Nordic Exchange in Helsinki, Finland.
www.wartsila.com
About Hyundai Heavy Industries Hyundai Heavy Industries Co., Ltd (HHI) is one of the world's leading industry companies, with 26,000 employees and net sales of USD 16.2 billion in the fiscal year 2007. HHI is also the world's number one shipbuilder and also the world's largest builder of two stroke diesel engines for ship propulsion and power generation.
