Wartsila acquires hydroelectric power servicer Weir American Hydro
Global manufacturing group Wartsila Corp. has acquired Weir American Hydro from the Weir Group plc, with ownership of the U.S.- and Canada-based business to be transferred effective June 30.
Weir is a supplier, installer and service provider for the hydroelectric power and water distribution industries, with more than 240 employees at its headquarters in York, Pa., and service center in Montreal. They will now be part of the Wartsila Services arm.
"Weir American Hydro has an established and respected position in the hydroelectric business," said Pierpaolo Barbone, president of Wartsila Services. "The acquisition supports our growth strategy and expansion in renewables, improving our offering and services toward our customers."
Wartsila said the acquisition will allow the Finland-based company to expand its hydro offerings, building on more than 30 years of supplying seals and bearings.
"American Hydro is excited to be an instrumental part of Wartsila Services' aim to be a leading global services provider to the hydropower and industrial markets," Weir American Hydro president Alan Roth said.
Financial terms of the acquisition were not disclosed, though Wartsila said Weir posted a net sales of US$45.6 million in 2015.