Wartsila has warned of write-downs of more than $65m in its second quarter results as it divests its stake in a Chinese joint venture (JV).
The Finnish company has agreed to transfer its 30% minority stake in the two-stroke engine JV with China State Shipbuilding Corporation (CSSC).
Winterthur Gas & Diesel (WinGD) was formed by the two parties in 2014, when Wartsila made an effort to increase its market share in the sector.
Wartsila
