Wärtsilä Acquires Weir American Hydro to Strengthen Hydro & Industrial Services

HELSINKI, Finland (June 23, 2016) — Wärtsilä, a global leader in complete lifecycle solutions for the marine and energy markets, announced that it has acquired the U.S.- and Canada-based company Weir American Hydro from the Weir Group plc. Ownership of the company will be transferred to Wärtsilä effective June 30, 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, and a service center in Montreal, Canada, American Hydro currently employs 241 people, with net sales of $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 of 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, 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, Pierpaolo Barbone, President, Wärtsilä Services, said: “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.”