Executive Summary
Hamworthy is a market-leading global company providing specialist equipment and service to marine and offshore and onshore oil and gas markets. Its main market today is the new building of specialist ship types, predominantly oil and gas carriers and cruise ships. Hamworthy employs over 1,100 people. It is headquartered in Poole, Dorset and has design, development and production facilities in the UK, Norway, Denmark, Singapore and a modern assembly plant in China. In addition there are sales and service offices in Korea, China, USA, The Netherlands, Spain, India and the Middle East. Its business activities are currently organised into four main operating divisions: 1) Pump systems; 2) Gas systems; 3) Inert gas systems; and 4) Water systems.
Company History
- The Hamworthy business was founded in 1911. It was acquired by Powell Duffryn plc in 1962. Subsequently, a series of acquisitions were completed, most notably Svanehøj International A/S in 1993 and the ships’ equipment companies of the Norwegian Kværner Group in 1998.
- In 2000, Nikko Principal Investments Limited advised and financed the purchase of Powell Duffryn plc and since then, Hamworthy has sold certain lower growth and margin activities and has developed new products and technologies for the fluid handling systems market. In addition, the Group opened an assembly facility at Suzhou, China in November 1998 which was replaced with a larger and more modern facility in 2001.
- In July 2004 Hamworthy announced the commencement of dealings of its Ordinary Shares on AIM
- In August 2006 Hamworthy acquired Serck Como GmbH, a market leader in desalination plants for cruise ships.
Current Events
- 03 November 2008 - Acquisition of 79 per cent. of the issued share capital of Baltic Design Centre Limited
Business Model
Its business activities are currently organised into four main operating divisions: 1) Pump systems; 2) Gas systems; 3) Inert gas systems; and 4) Water systems.
Products/Services
- The pump systems division is divided into three product groups: deepwell pumps, pump room systems and engine room systems. The division supplies products predominantly for LPG carriers, product and chemical tankers, crude oil tankers and FPSOs.
- The gas systems division is located in Asker, Norway. Products include LPG reliquefaction systems - These systems allow cargo vapour boil-off created during transportation to be reliquefied and returned to cargo, thereby minimising cargo loss and reducing emissions.
- Inert gas systems - These systems supply oxygen-depleted air to prevent explosions…
