Wärtsilä Oyj Abp — M&A Activity 2011

Dec 13, 2011

Wärtsilä Corporation's recommended acquisition of Hamworthy plc, posting of Scheme Document

Wärtsilä Corporation's recommended acquisition of Hamworthy plc, posting of Scheme Document

Wärtsilä Corporation, Company Announcement, 13 December 2011, at 9.00 am (EET)

On 22 November 2011, Wärtsilä and Hamworthy announced that they had reached
agreement on the terms of a recommended offer for the entire issued and to be
issued ordinary share capital of Hamworthy for 825 pence in cash per Hamworthy
share. The acquisition will be effected by means of a Scheme of Arrangement
under English law.

Further to that announcement, Wärtsilä and Hamworthy are pleased to announce
that the scheme document relating to the acquisition is being posted to
Hamworthy Shareholders today. The scheme will need to be approved at the Court
Meeting and will require the passing of a special resolution at the Hamworthy
General Meeting.

The scheme document, together with information incorporated by reference
therein, will be available on the Investors section of Wärtsilä's website at
www.wartsila.com.

The expected timetable of principal events, UK time:

EVENT TIME AND DATE((1))

Court Meeting 11.00 a.m. on 9 January 2012

General Meeting of Hamworthy((2)) 11.15 a.m. on 9 January 2012

Scheme Court Hearing (to sanction the 26 January 2012
Scheme)((1))

Effective Date((1)) 31 January 2012

Cancellation of trading of Hamworthy by no later than 8.00 a.m. on 31
shares((1)) January 2012

Notes:

1. These dates and times are indicative only and will depend, among other
   things, on the dates by which all necessary anti-trust clearances are
   obtained and the dates on which the Court sanctions the Scheme and confirms
   the associated Reduction of Capital. This timetable assumes that German and
   Norwegian anti-trust clearances are obtained by not later than 26 January
   2012.
2. In the event that the Court Meeting concludes after 11.15 a.m., the General
   Meeting will follow as soon as possible thereafter.

For further information, please contact:

Atte Palomäki
Group Vice President, Communications & Branding
Wärtsilä Corporation
Tel: +358 10 709 5599
atte.palomaki@wartsila.com

For investor information, please contact:

Pauliina Tennilä
Director, Investor Relations
Wärtsilä Corporation
Tel: +358 10 709 5445
pauliina.tennila@wartsila.com

Wärtsilä in brief

Wärtsilä is a global leader in complete lifecycle power solutions for the marine
and energy markets. By emphasising technological innovation and total
efficiency, Wärtsilä maximises the environmental and economic performance of the
vessels and power plants of its customers. In 2010, Wärtsilä's net sales
totalled EUR 4.6 billion with more than 17,500 employees. The company has
operations in 160 locations in 70 countries around the world. Wärtsilä is listed
on the NASDAQ OMX Helsinki, Finland. www.wartsila.com

[HUG#1570835]