Ownership will be transferred to Wärtsilä of Weir American Hydro as on 30 June 2016. Weir American Hydro will now be a part of Wärtsilä Services business.
With this acquisition, Wärtsilä will be expanding its global hydro and industrial service offerings.
Weir American Hydro is a supplier, installer and service provider for large equipment for hydroelectric and water distribution industries.
It has specialisation in consultancy, design and precision performance improvement for hydro-turbines and pumps.
The company with its headquarters in York, Pennsylvania US and service centre in Montreal, Canada, employs 241 people recording net sales $45.6m in 2015.
Wärtsilä has more than 30 years of experience in supplying seals and bearings to global hydro and industrial markets.
Weir American Hydro president Alon Roth said: "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 is of the opinion that such investment in the development of new services and technologies can improve operational efficiency and the technical know-how will further strengthen by acquiring Weir American Hydro’s range of capabilities.
Wärtsilä Services president Pierpaolo Barbone 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."
