com:20090930:Rnsd9038Z
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RNS Number : 9038Z  
  
Hamworthy plc  
  
30 September 2009  
  
 
  Press Release   30September 2009  
  
  
Hamworthy plc  
  
("Hamworthy" or the "Group")  
  
Acquisition  
  
Hamworthy (AIM:HMY), a world leader in the design and manufacture of innovative 
marine, onshore and offshore fluid handling systems, today announces that it has 
completed the acquisition of the business and assets of Krystallon Limited 
("Krystallon") for a cash consideration of £0.95 million payable immediately 
plus £0.8 million payable upon satisfactory completion of an internal testing 
programme. The acquisition will be funded entirely from Hamworthy's own cash 
reserves. Further payments will be due dependent on future profit performance up 
to the period ending 30 March 2015.  
  
Based in the UK, Krystallon is a leading supplier of marine exhaust sulphur 
emissions reduction technology.  Krystallon's technology provides a 
cost-effective means of complying with the International Maritime Organisation's 
regulations for the reduction of marine exhaust gas emissions.  
  
Commenting on the acquisition, Joe Oatley, Chief Executive of Hamworthy, said: 
"The emerging market for marine sulphur emissions reduction is an exciting 
global opportunity underpinned by international environmental regulations. The 
acquisition of Krystallon is consistent with our strategy of expanding the 
Group's technological base in long-term growth markets."  
  
- Ends -  
  
For further information:  
  
 
  Hamworthy plc                                                
  Joe Oatley, Chief Executive       Tel: +44 (0) 1202 662 600  
  Paul Crompton, Finance Director   www.hamworthy.com          
  
  
 
  Hawkpoint Partners Limited                              
  Christopher Kemball          Tel: +44 (0) 20 7665 4500  
  Vinay Ghai                   www.hawkpoint.com          
  
  
Media enquiries:  
  
 
  Abchurch                                                                          
  Henry Harrison-Topham / George Parker / Simone Alves   Tel: +44 (0) 20 7398 7702  
  simone.alves@abchurch-group.com                        www.abchurch-group.com     
  
  
Notes to editors  
  
Hamworthy is a leader in the design and manufacture of innovative gas handling, 
pumping and water management systems for the marine and oil & gas industries. 
The business benefits from markets that have long-term growth prospects.  It 
produces technically advanced solutions, often in response to environmental 
needs and legislation.  
  
With its headquarters in the UK, operations in 13 countries and representation 
in over 50, the Group has established a leading global position in its chosen 
markets. Further information on Hamworthy plc can be found at www.hamworthy.com  
  
Seawater scrubbing / legislation  
  
In October 2008, the IMO unanimously adopted guidelines for the regulation of 
marine exhaust emissions of sulphur (SOx) and nitrogen oxides (NOx), with a 
phasing in over a number of years  
  
 
The regulations have already been introduced by a number of countries that have 
grouped together to form Emission Control Areas (ECA's).  ECA's are currently in 
force in the North Sea, English Channel and the Baltic. The US and Canada have 
also applied for ECA status and it is believed that the Mediterranean and waters 
of Singapore will also seek ECA status.  For further information, please see 
www.krystallon.com   
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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