Subscribe to RSS feedWärtsilä axes 1,400 jobs and boosts China presence
FINNISH engine maker Wärtsilä is shifting parts of its marine production business to China in a move that will see up to 1,400 jobs lost in various divisions as it reacts to the decline in orders.
Propeller production will be shifted to China, particularly to the company’s joint-venture production facility with China State Shipbuilding Corp in Zhejiang. The joint venture was expanded in 2007 to more than double capacity during the shipbuilding boom.
The shift will...
This full article is available to Lloyd's List DCN subscribers only.
If you are already a subscriber, please sign in below.
If you're not a subscriber and would like to experience the full benefits of Lloyd's List DCN with a 14 day trial, please click here.
Alternatively, click here to subscribe.
| Tweet |
Daily Top Stories
- New salvage facility for Cairns
- Worker dies in Newcastle wharf tragedy
- Major supramax markets diverge
- Panama Canal fees hike planned for July
- 12% of world tanker fleet facing scrapping
- Rena officers sent to prison
