07/01/2015 (Agence Europe) - Mergers: CSSC and Wärtsilä Corporation take joint control of Wärtsilä Switzerland. On Tuesday 6 January, the European Commission cleared the acquisition of joint control over Wärtsilä Switzerland by the Finnish group Wärtsilä Corporation and the Chinese state company China State Shipbuilding Corporation (CSSC). Wärtsilä Switzerland is currently solely owned by Wärtsilä Corporation, a provider of power solutions for the marine and energy markets. Wärtsilä Switzerland is active in developing and licensing two-stroke low speed marine engine technology. CSSC is the parent company of one of the largest shipbuilding conglomerates in China and produces marine-related equipment, amongst other activities. As Wärtislä Switzerland has very limited activities in the European Economic Area, the Commission concluded that the proposed transaction would not raise competition concerns. (EL)