Press Release: Mergers: Commission clears proposed joint venture between Wärtsilä and Hyundai

The European Commission has cleared under the EU Merger Regulation the creation of a joint venture between Wärtsilä Technology Oy (Wärtsilä), a Finnish manufacturer of ship propulsion and power plant solutions and Hyundai Heavy Industries (HHI), a Korean shipbuilder. The Commission’s investigation has found that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA), given the limited scope of activities of the joint venture, which will produce only one type of engine (dual fuel engines) mainly for the Korean, Taiwanese and Japanese markets.