Wärtsilä to Divest Its Valves Business
Finland-based technology group Wärtsilä said it has divested 100% of its shares in Wärtsilä Valves Ltd to an affiliate of Evergreen Capital L.P., based in New York. The transaction was closed Thursday.“Wärtsilä is focusing on creating a stronger and simpler core whilst making sure the non-core businesses get an opportunity under a new ownership to be able to drive their business success and better serve their customers,” said Tamara de Gruyter, President, Wärtsilä Marine Systems and Head of Portfolio business.
Wärtsilä Expands Valve Range
Wärtsilä Shipham Valves has extended its range of duplex and super duplex stainless steel valves to cover higher pressure ratings. The full product range of Wärtsilä Shipham Valves, including gate, globe, check, ball and butterfly valves, can now be specified in duplex and super duplex, with sizes ranging from 1/2 inch (15mm) to 48 inches (1,200mm) and pressure ratings up to ANSI 1,500 lbs. Shipham Valves is a Wärtsilä company and based in the U.K. The extended offering of duplex and super duplex valves meet the requirements of NORSOK M-630…
Shipham Valves' New Range of Wafer Check Valves
Wärtsilä subsidiary, Shipham Valves, completes development of a range of composite single plate wafer check valves. The new valves will be introduced to the market place at the Valve World Exhibition to be held in Düsseldorf at the end of November. Available in sizes from 3” – 12” / DN80 – DN300 and rated at 16 bar (230psi), the single plate Wafer Check Valve adds to Shipham Valves existing range of composite valves. The latest range is a compact, lightweight, fully non-metallic valve and comprises only two components - the body and the disc.
Hamworthy Acquires AW Flow Holdings
Hamworthy, a designer and manufacturer of innovative marine and offshore fluid handling systems, announces that it has acquired 100 per cent of the issued share capital of AW Flow Holdings Limited ("AW Flow") and its subsidiary undertakings, a UK based specialist valve manufacturer for the oil and gas sector. The consideration is £24 million on a debt free/cash free basis, funded entirely from Hamworthy's own cash reserves. £21.6 million was paid on completion with a further £2.4 million of deferred consideration payable over the next two years. In the year to 31 October 2010 AW Flow had revenue of £20.2 million and pre-tax profit of £4.6 million in respect of its continuing businesses.
