Wärtsilä agrees terms for Hamworthy

Offshore staff

POOLE, UK – Propulsion/drives specialist Wärtsilä has reached agreement concerning a recommended cash offer for pump engineering group Hamworthy.

This values the Poole-based company at £383 million ($598.75 million), although the acquisition remains conditional on approval by Hamworthy’s shareholders and regulatory approvals in Germany and Norway.

Wärtsilä says that in partnership, both companies will be able to broaden and enhance their capabilities in evolving offshore, marine gas, and environmental applications. They should also benefit from technology- sharing and optimized R&D.

11/22/2011