Wartsila says the divestment will allow it toconcentrate on its core areas of expertise in power solutions for the marineand energy markets.
Transmashholding and Wartsila signed the joint venture agreement tomanufacture multipurpose diesel engines in May 2010,setting up a 50/50 holding company to build and operate a new factory inPenza, Russia.
Construction of the production facilities began in2012, with the engines designed for use in shunter locomotives and variousmarine and power applications.
Wartsila says it continues to see growth opportunitiesin Russia’s marine and power plant markets, and will continue to serve theregion through its existing manufacturing locations.
The sale to Transmashholding is expected to be closedby the end of June 2014.
