Wartsila B : Wärtsilä’s acquisition of Hamworthy becomes effective - total solutions concept significantly strengthened

Wärtsilä's acquisition of Hamworthy bees effective - total solutions concept significantly strengthened

Wärtsilä Corporation, Trade and Technical Press release, 31 January 2012, at 12.45 pm (EET)

Hamworthy's portfolio of high technology products and systems represents a valuable plementary addition to Wärtsilä's offering. The bining of the two panies' strengths will speed up and ease the means for customers to reduce operating costs and achieve pliance with environmental legislation.

Wärtsilä's acquisition of the British-headquartered, global engineering pany Hamworthy plc has today bee effective. This acquisition is a major step in Wärtsilä's strategy to strengthen its position as a total solutions provider, and to be the most valued partner for its customers with a plete range of products, integrated solutions, and services to the marine and offshore industries. Wärtsilä announced the remended cash offer for Hamworthy in November last year.

Wärtsilä already has an exceptionally broad offering that covers the plete lifecycle of a vessel, from initial ship design to daily operating requirements, and which is backed by the most extensive global service network in the industry. Hamworthy's portfolio of high technology products and systems represents a valuable plementary addition to this range. With the marine and offshore industries undergoing challenging times as a result of economic and environmental restrictions, the bining of the two panies' strengths will speed up and ease the means for customers to reduce operating costs and achieve pliance with environmental legislation. It also further facilitates 'one-stop' procurement procedures for shipyards to reduce risks arising from having multiple suppliers.

"This move is fully in line with our strategy," says Jaakko Eskola, Group Vice President, Wärtsilä Ship Power. "Both panies 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."

"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 pliance will be shortened," says Joe Oatley, CEO, Hamworthy. 

Hamworthy has been highly successful in providing a wide assortment of specialist equipment and systems to the shipping industry, and systems that improve process efficiency and environmental pliance in the oil & gas industry. The joining of these two industry leaders will thus create an exciting platform for long-term growth. In particular, the ability to address and prepare for future legislation and operating requirements will be enhanced, to the benefit of customers and stakeholders around the world.

Hamworthy employs approximately 1000 people worldwide, and has offices in Europe, the USA, Asia, the Middle East and India. Wärtsilä currently employs some 18,000 people working from 170 locations in 70 different countries.

Link to Stock Exchange release (22 November 2012):
Wärtsilä Corporation announces remended cash offer for Hamworthy plc

For further information, please contact:

Timo Koponen
Vice President, Finance and Control
Wärtsilä Ship Power
timo.koponen@wartsila.
Tel [phone]

Tuula Franck
Senior Manager, Media and Stakeholder Relations
Wärtsilä Corporation
tuula.franck@wartsila.
Tel: [phone]

Wärtsilä in brief
Wärtsilä is a global leader in plete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2011, Wärtsilä's net sales totalled EUR 4.2 billion with approximately 18,000 employees. The pany has operations in nearly 170 locations in 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.www.wartsila.