Lamor acquired ballast water treatment manufacturer Hyde Marine, Inc

LAMOR ACQUIRED BALLAST WATER TREATMENT MANUFACTURER HYDE MARINE, INC

Lamor Group, a world leader in oil spill response and environmental technologies with headquarters in Vantaa, Finland, expanded its business operations to new fields of environmental technology by acquiring full ownership of American ballast water treatment manufacturer Hyde Marine, Inc., based in Cleveland Ohio, USA. The acquisition is part of Lamor's growth strategy.

-Through ownership of Hyde Marine we significantly increase our focus and ability to grow on the global environmental technology market. Hyde Marine is a leader in developing ballast water technologies, and this acquisition gives us an excellent opportunity to expand our environmental technology range, said Rasmus Guldbrand, CEO of Lamor Group.

- We are most pleased to join Lamor, a strong global leader in the oil spill response market. This merger will greatly enhance Hyde's ability to serve the ballast water treatment market worldwide, explained Tom Mackey, CEO of Hyde Marine, Inc.

Hyde's Ballast Treatment Systems Controlling Aquatic Nuisance Species

It is estimated that about 10 billion tonnes of ballast water are transferred globally each year, potentially transferring from one location to another marine species that may prove ecologically harmful when released into a non-native environment. The International Maritime Organization's (IMO) Ballast Water Management Convention will soon require that all existing or newly built ships have IMO type approved Ballast Water Treatment Systems installed. About 75 000 ships over the next 10 years will need Ballast Water Treatment systems, making it a multi billion dollar market globally.

- Hyde Marine's Hyde GuardianT Ballast Treatment System protects the maritime environment and efficiently reduces the impact of aquatic nuisance species in new ecosystems, Guldbrand told.

- The territorial conquest of the latest invasive species in the Baltic Sea, the American comb jelly (Mnemiopsis leidyi) could have been prevented if IMO's global legislation for ballast treatment would have been in force and our ballast treatment system in use, added Guldbrand.

Hyde Marine has invested significant resources in the development of ballast water technologies designed to enhance the protection of the marine environment. The system is currently undergoing IMO type approval through the UK Maritime & Coastguard Agency (MCA) in cooperation with Lloyds Register.

The type approval process for Hyde Marine's Hyde GuardianT Ballast Treatment System will be coordinated together with the VTT Technical Research Centre of Finland. VTT is an impartial expert organisation providing research, development, testing and information services to the public sector and to companies.

For further information, please contact:

Rasmus Guldbrand, CEO, Lamor Group
E-mail: rasmus.guldbrand@lamor.com
or phone: +358 20 7650 100

Tom Mackey, CEO, Hyde Marine, Inc.
E-mail: tmackey@hydemarine.com
or phone: +1 440 871-8000, ext 112

Lamor Group

The Lamor group of companies is a world leader in oil spill response and environmental technologies. With 25 years of experience, Lamor specializes in comprehensive solutions developed for a specific problem using efficient environmental technologies. The company has a global sales office network and production facilities are located in Finland, the U.S. and Asia. Last year's turnover was 33 million euros. Additional information is available at: http://www.lamor.com

Hyde Marine, Inc

Hyde Marine, Inc. traces its origins back to the Hyde Windlass Company, established in Bath, Maine in 1865. Hyde is today a leading U.S supplier of a wide variety of marine machinery and systems, with a focus on technologies for solving shipboard environmental needs. Current projects include technologies targeting ballast water, bilge water, cargo residues, processed sewage and gray water. Hyde has also developed technologies for shipboard security solutions including non-lethal, forceful deterrent systems using remotely controlled water cannons. Hyde Marine and Lamor LLC, manufacture and market oil spill response equipment in the Americas. Additional information is available at http://www.hydemarine.com

Hyde GuardianT Ballast Water Treatment System - protecting marine environments

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