Electronics Production | November 23, 2011
Wärtsilä to acquire Hamworthy
Wärtsilä Corporation announced it has reached agreement to acquire Hamworthy, a UK listed engineering company focussed on the marine and oil and gas sectors, for approximately 382 GBP million.
The acquisition is conditional on the approval by the shareholders of Hamworthy and is expected to be closed during the first quarter in 2012, relevant to regulatory approvals in Germany and Norway. Björn Rosengren, CEO, Wärtsilä Corporation, commenting on the acquisition, said: “We believe strongly in marine gas markets and the opportunities in the rapidly evolving environmental markets. Combining our resources with Hamworthy, we will be able to offer customers a broader portfolio of economically efficient, reliable and environmentally sustainable products and systems. We recognise the success achieved to date by Hamworthy and we are confident that our global presence, scale and resources will enable Hamworthy to accelerate its growth and exploit its full potential, particularly in the early stage environmentally sustainable technologies. We look forward to working with the management and employees of Hamworthy to combine our expertise and experience for the benefit of our customers around the globe as well as for the benefit of our shareholders.”
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