Mon 9 Jan 2012, 15:06 GMT

Hamworthy shareholders vote in favour of Wärtsilä takeover


Shareholder approval paves the way for Wärtsilä acquisition to go ahead.



Wärtsilä has announced that, at both the Court Meeting and General Meeting of Hamworthy plc, held earlier today in relation to Wärtsilä's recommended acquisition of Hamworthy by way of Scheme of Arrangement, all the resolutions proposed received the strong support of Scheme Shareholders.

At the Court Meeting, a majority in number of Scheme Shareholders who voted (either in person or by proxy) and who together represented over 75 percent by value of the votes cast, voted in favour of the resolution to approve the Scheme. The resolution was accordingly passed.

At the General Meeting, the special resolution to approve certain matters necessary to implement the Scheme were also passed by the requisite 75 percent majority.

The proposed acquisition has received clearance from German and Norwegian antitrust authorities and the relevant condition in the offer announcement has therefore been satisfied.

Completion of the Acquisition remains subject to the satisfaction or waiver of the other Conditions, including the Court sanctioning the Scheme and confirming the associated Reduction of Capital at Court hearings which are expected to take place on 26 January and 30 January 2012 respectively.

Subject to the Scheme and the associated Reduction of Capital receiving the sanction and confirmation of the Court on those dates, the Scheme is expected to become effective on 31 January 2012.

Commenting on the results of the vote, Björn Rosengren, CEO, Wärtsilä Corporation, said: "We are delighted that the shareholders of Hamworthy have voted in favour of the Scheme. We believe strongly that by combining our resources with Hamworthy, we will be able to broaden and enhance our capabilities in rapidly evolving offshore, marine gas application, and environmental solutions markets. We welcome the management and employees of Hamworthy to Wärtsilä and look forward to combining our expertise and experience for the benefit of our customers around the globe."


Suezmax crude oil tanker render. Guangzhou Shipyard secures Suezmax order, delivers vessels ahead of schedule  

China State Shipbuilding subsidiary reports nine vessel deliveries in the first quarter of 2026.

Clean ammonia project pipeline chart as of March 2026. Renewable ammonia pipeline grows despite Norway project freeze  

GENA Solutions tracks 325 projects totalling 146 MMT of capacity by 2034 despite execution challenges.

Antwerpen and Arlon naming ceremony. Exmar names world’s first ocean-going ammonia dual-fuel gas carriers in South Korea  

Two 46,000-cbm vessels can reduce CO₂ emissions by up to 90% during navigation.

Fujian province map with highlighted locations. Gulf Marine expands bonded lubricant supply network in China’s Fujian province  

Company adds supply points in Putian, Ningde and Fuqing, covering 20 terminals across the region.

Excelerate Acadia naming ceremony. Bureau Veritas classifies Excelerate Energy’s new 170,000-cbm FSRU Excelerate Acadia  

Vessel built by HD Hyundai Heavy Industries features dual-fuel engines and proprietary regasification system.

Osprey Energy logo. Osprey Energy seeks junior bunker trader to support Cebu trading activities from Netherlands  

Dutch marine fuel supplier targets Cebu region expansion through new training programme for Filipino candidates.

EUA prices dropping graphic. KPI OceanConnect highlights falling EUA prices as opportunity for shipowners to lock in compliance costs  

Marine fuel firm says timing carbon allowance purchases can reduce costs as EU emissions scope expands.

RINA employee in control room. RINA partners with Hanwha Group on battery-hybrid propulsion for ro-ro ferries  

Classification society to provide regulatory compliance verification for hybrid battery systems on newbuilds and retrofits.

Amadeus Titanium vessel. HGK Shipping’s Amadeus Titanium fitted with wind assistance system  

Coastal vessel equipped with VentoFoils at Dutch port to reduce fuel consumption on Covestro routes.

Sebastian Weder, Bunker One. Bunker One expands physical supply operations to Tallinn and Finland  

Marine fuel supplier extends Baltic Sea coverage with new operational presence in Estonia and Finland.