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Wärtsilä To Purchase Hamworthy

Posted on December 1, 2011

In a move to grow its presence in offshore, marine gas applications, Wärtsilä has agreed to buy U.K.-based Hamworthy.

Hamworthy provides specialist equipment and services to the marine, oil and gas and industrial sectors and employs 1150 people worldwide. It is headquartered in Poole, England, and has design, manufacture and sales offices in the U.K., Norway, Denmark, Germany, Singapore, as well as an assembly plant in China. The deal is valued at £383 million.

The companies said that Hamworthy and Wärtsilä will benefit from technology sharing and optimized research and development to enhance their positions for the global marine and offshore markets. Wärtsilä said its services network will support Hamworthy in its after sales activities.

The acquisition is expected to close during the first quarter in 2012. The acquisition is subject to Hamworthy shareholder approval and relevant regulatory approvals in Germany and Norway.

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