Wartsila Opens Shop in Hanoi

Wartsila Corp. on Tuesday expanded its representation in Vietnam by opening a branch office in Hanoi. Vietnam is a rapidly growing market for Wartsila's products and services to the shipping, shipbuilding and power industries.

"With more than 3000 km of coastline and abundant offshore oil and natural gas resources, Vietnam is a natural participant in the global power and marine industry and Wartsila will support and be part of its development," said Clas-Eirik Strand, Chairman of the board of Wartsila in Vietnam.

Wartsila has had a permanent presence in Vietnam since 1994 when it set up a representative office in Ho Chi Minh City. In 1998 Wartsila obtained a business license to operate as a 100% foreign-owned service company and founded Wartsila Vietnam Co Ltd.

The company in Vietnam is actively involved in the promotion of Wartsila marine power and propulsion systems and land-based power plants. Full after-sales support is provided for the complete range of products.

The recent growth in world shipbuilding demand has led to the rise of Vietnam as a major shipbuilding country and thus as a market for Wartsila products and services. Wartsila is already supplying engines and propulsion systems from its wide range of products for newbuildings at shipyards in Vietnam. In parallel Wartsila is providing full after-sales support for the existing fleet and engineers are being trained as the engine population increases.

Vietnam Shipbuilding Industry Corp. (Vinashin) is a key customer and within recent months, Wartsila received several orders from Vinashin for propulsion systems and low-speed main engines to be installed in newbuildings contracted at its shipyards.

Wartsila, through its presence in Vietnam, will be able to strengthen its deliveries of required propulsion and power equipment and local technical expertise that will enable Vietnamese shipyards to compete for newbuilding contracts locally and internationally. Wartsila will thus contribute to the development of the Vietnamese shipbuilding industry for ocean-going and offshore vessels.

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