John Swire & Sons Limited ‘Swire’ has completed its purchase of all of WesTech’s common stock. The purchase follows the vote by WesTech shareholders, with more than 94% voting in favor of the deal, and the successful meeting of all regulatory conditions.
Swire is committed to the growth and development of WesTech. This support is expected to enable WesTech to both diversify and accelerate its strategic development, building on the skills and corporate reputation that already exists. In particular, there are significant opportunities from close co-operation between WesTech and another Swire subsidiary based in Salt Lake City, Purestream Services.
“Today’s announcement reflects our commitment to invest in and grow companies that contribute positively to the environment and facilitate sustainable development,” said James Hughes-Hallett, Finance Director of John Swire & Sons Limited. “Combining our resources with WesTech’s process capabilities and established market reputation will accelerate our position in the water treatment market.”
“The current unprecedented circumstances caused many delays to this closing. However, we are delighted to finally see the process completed. I know we have found the right partner in Swire and am excited by the opportunities this will bring for WesTech,” said Ralph Cutler, CEO of WesTech Engineering. “We are fully committed to the long-term potential of the municipal, industrial and minerals markets. WesTech has developed a reputation for quality and value in these markets since the company was founded in 1972. We look forward to building on this strong foundation for our customers, employees and stakeholders.”