By
Michele Witthaus |
Wärtsilä announced on 31 January that its acquisition of UK-based global engineering company Hamworthy had reached completion.
The company said that Hamworthy’s portfolio of high-technology products and systems represented a valuable complementary addition to its offering and would help customers to reduce operating costs and achieve compliance with environmental legislation. Wärtsilä announced its cash offer for Hamworthy in November last year.
The acquisition will broaden Wärtsilä’s existing offering, which covers the complete lifecycle of a vessel, from initial ship design to daily operating requirements. It is also expected to facilitate ‘one-stop’ procurement procedures for shipyards.
“This move is fully in line with our strategy,” said Jaakko Eskola, group vice president, Wärtsilä Ship Power. “Both companies are excited by the challenges and opportunities in the rapidly evolving offshore, marine gas applications, as well as environmental solutions markets. We have the broadest range of solutions and services in the industry, and by adding Hamworthy's strengths to our own, we can serve our customers even better.”
Joe Oatley, CEO, Hamworthy commented: “We are delighted to be joining Wärtsilä, an acknowledged leader in providing technologically advanced solutions for customers around the world. The Hamworthy strengths will be gradually and systematically integrated with those of Wärtsilä, with the end result that the customer's route to greater profitability and easier compliance will be shortened.”