CSSC will have 70% of the company, with Wartsila having the rest.
The value of the deal is EUR 46m ($62m).
Regulatory approvals are expected to be granted by the first quarter of 2015.
The joint venture's head office will remain in Switzerland with management unchanged.
"The objective of the partnership is to combine the strengths of the two partners, both of whom are major players in the global marine sector," Wartsila said.
"By
