Wärtsilä acquires Weir American Hydro to strengthen presence in hydro and industrial services
(Thomson Reuters ONE) -
Wärtsilä Corporation, Press release, 23 June 2016 at 9.00 a.m. EET
Wärtsilä, a global leader in complete lifecycle solutions for the marine and
energy markets, announces that it has acquired the USA and Canada based company
Weir American Hydro from the Weir Group plc. Ownership of the company will be
transferred to Wärtsilä, with effect from 30 June 2016.
American Hydro is a leading supplier and installer of large equipment upgrades
and servicing for the hydroelectric and water distribution industries,
specializing in consultancy, design and precision performance enhancements
for hydro-turbines and pumps.
With its headquarters in York, Pennsylvania, USA and a service center in
Montreal, Canada, they currently employ 241 people, with net sales of USD 45.6
million in 2015.
This acquisition will enable Wärtsilä to grow and expand its existing global
Hydro and Industrial service offering. Wärtsilä has over 30 years' experience in
supplying seals and bearings to the hydro and industrial markets globally.
American Hydro will be part of the Wärtsilä Services business.
In announcing the acquisition agreement, Mr. Alan Roth, President American
Hydro, commented: "American Hydro is excited to be an instrumental part of
Wärtsilä Services' aim to be a leading global services provider to the
Hydropower & Industrial markets".
Wärtsilä has a long history of investment in the development of new services and
technologies that enhance operational efficiency and this know-how will be
further strengthened with the addition of American Hydro's range of
capabilities.
In announcing the acquisition agreement, Mr. Pierpaolo Barbone, President,
Wärtsilä Services commented: "American Hydro has an established and respected
position in the hydroelectric business. The acquisition supports our growth
strategy and expansion in renewables, improving our offering and services
towards our customers."
Link to image
Caption: Weir American Hydro building in USA
Media contacts:
Rob Burford
Vice President, Seals & Bearings
Wärtsilä Services
+44 2392 391534
rob.burford(at)wartsila.com
Hanna Viita
Marketing Director
Wärtsilä Services
+358 10 709 5429
hanna.viita(at)wartsila.com
For investor information, please contact:
Natalia Valtasaari
Director, Investor & Media Relations
Wärtsilä Corporation
Tel: +358 10 709 5637
natalia.valtasaari(at)wartsila.com
Wärtsilä Services in brief
Wärtsilä Services creates lifecycle services for its customers, enhancing their
business - whenever, wherever. We provide industry's broadest range of services
for both shipping and power generation. Our solutions range from spare parts and
basic support to ensuring maximised lifetime, increased efficiency and
guaranteed performance of customer's equipment or installation - in a safe,
reliable, and environmentally sustainable way.
Wärtsilä in brief
Wärtsilä is a global leader in advanced technologies and complete lifecycle
solutions for the marine and energy markets. By emphasising sustainable
innovation and total efficiency, Wärtsilä maximises the environmental and
economic performance of the vessels and power plants of its customers. In 2015,
Wärtsilä's net sales totalled EUR 5 billion with approximately 18,800 employees.
The company has operations in over 200 locations in more than 70 countries
around the world. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wärtsilä Oyj Abp via GlobeNewswire
[HUG#2022675]
Unternehmensinformation / Kurzprofil:
Datum: 23.06.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 479556
Anzahl Zeichen: 4441
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 205 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Wärtsilä acquires Weir American Hydro to strengthen presence in hydro and industrial services"
steht unter der journalistisch-redaktionellen Verantwortung von
Wärtsilä Oyj Abp (Nachricht senden)
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