The Finnish technology group Wartsila Corporation has agreed to sell American Hydro, a supplier and installer of turbines and pumps for the hydroelectric and water distribution industries, to Enprotech Corporation, a wholly owned subsidiary of Japanese trader Itochu Corporation. The sale is expected to close in the first half of this year, subject to receiving certain approvals, Waertsilae announced in late December. Waertsilae acquired the company, which offers hydropower refurbishment solutions and turbine services to customers mainly in North America, from the Weir Group in June 2016. Set up in 1986, American Hydro generated annual revenues of about US$ 50 million in 2021. The company, which is based in York, Pennsylvania, operates a service centre in Montreal, Canada, "Our organization is extremely excit- ed to add American Hydro to our collective portfolio of businesses focused on the maintenance, repair, rebuild and modernization of heavy industrial equipment. American Hydro expands our industry segmentation into the renewable energy sector, a key growth category for Enprotech Corporation," said Chris Pascarella, President and CEO. "American Hydro has remarkable technical capabilities that will strengthen our entire organization."
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