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Wärtsilä has announced that on January 31st the Scheme of Arrangement with regards to the acquisition of Hamworthy has become effective and the control of Hamworthy has been transferred to Wärtsilä. The associated Reduction of Capital was confirmed at a Court hearing on January 30, 2012 in London, UK and the trading of Hamworthy shares ceased the next day.
In November 2011, Wärtsilä announced that it had reached agreement with the Board of Hamworthy in regards to a recommended cash offer for the acquisition of Hamworthy, a global provider of specialist equipment and services to the marine, oil & gas and industrial sectors.
The acquisition of Hamworthy will enhance Wärtsilä’s capabilities in the offshore, marine gas applications, and environmental solutions markets and it will provide important synergies. Hamworthy will be integrated as a business unit within Wärtsilä’s Ship Power business.