Wärtsilä has announced it has acquired North American firm Weir American Hydro from the Weir Group plc in a move that will allow the company to grow and expand its existing global Hydro and Industrial service offering.
Wärtsilä has announced it has acquired North American firm Weir American Hydro from the Weir Group plc in a move that will allow the company to grow and expand its existing global Hydro and Industrial service offering.
The deal will see ownership of the company transferred to Wärtsilä with effect from 30 June 2016, with the firm to become part of the Wärtsilä Services business.
Weir American Hydro is a 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, US and a service center in Montreal, Canada, it currently employs 241 people, with net sales of US$45.6 million in 2015.
In announcing the acquisition agreement, commented: "American Hydro has an established and respected position in the hydroelectric business," commented Mr. Pierpaolo Barbone, President, Wärtsilä Services. "The acquisition supports our growth strategy and expansion in renewables, improving our offering and services towards our customers."