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."
About Wärtsilä Services
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 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. For more information, visit www.wartsila.com.