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Wärtsilä in talks to buy regas firm

LNG Industry,

Wärtsilä is in advanced discussions with Hamworthy regarding an 825 pence per ordinary share cash offer. Hamworthy are producers of ship based LNG regasification systems.

The Board of Wärtsilä believes that the combination would create an exciting platform in the offshore, marine gas and environmental solutions markets creating long-term growth to the benefit of shareholders, customers, and employees alike.

Wärtsilä has strategically developed its Ship Power division in recent years beyond the traditional engine technology to encompass ancillary equipment and systems to be able to provide customers with more value added marine solutions. Hamworthy would extend that strategy by offering excellent technology in strong market positions, on which Wärtsilä could leverage its international sales and service network.

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