Wärtsilä believes that Hamworthy offers a strong strategic fit and a complementary product offering. Post acquisition, Hamworthy would be integrated as a business unit within Wärtsilä’s Ship Power division.
Wärtsilä CEO Björn Rosengren said: “We believe strongly in marine gas markets and in the opportunities in the rapidly evolving environmental market. 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.”
Gordon Page, non-executive chairman of Hamworthy, added: “The board believes this is an attractive offer for Hamworthy shareholders, reflecting the strengths of Hamworthy’s global positions and its growth prospects.”