Wärtsilä acquires Weir American Hydro:strengthens energy market

Published on: 23 Jun 2016 9:29 AM GMT
Wärtsilä acquires Weir American Hydro:strengthens energy market

Hensinki: Global leader in complete lifecycle solutions in marine and energy, Wärtsilä, on Thursday announced 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 on June 30.

A leading supplier and installer of large equipment upgrades and servicing for the hydroelectric and water distribution industries, American Hydro is, specialised in consultancy, design and precision performance enhancements for hydro-turbines and pumps.

The company has its headquarters in York, Pennsylvania, USA and a service center in Montreal, Canada. It currently employs 241 people, with net sales of USD 45.6 million in 2015.

Wärtsilä said that the acquisition will enable it to grow and expand its existing global Hydro and Industrial service offering.

What officials of both the companies said:

  • While announcing the acquisition agreement, Mr. Alan Roth, President American Hydro, stated, “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".
  • Mr. Pierpaolo Barbone, President, Wärtsilä Services said that American Hydro has an established and respected position in the hydroelectric business.
  • “The acquisition supports our growth strategy and expansion in renewable. It is improving our offering and services towards our customers," said the Wärtsilä president.

Next Story