Feb 2 2010
Calgon Carbon Corporation (NYSE: CCC) announced today that it has acquired the outstanding stock of Hyde Marine, Inc., a manufacturer of systems that utilize ultraviolet light technology to treat marine ballast water. Terms of the transaction were not disclosed.
In 2004 the International Maritime Organization (IMO) adopted the International Convention for the Control and Management of Ships' Ballast Water and Sediments (BWMC) which addresses the transportation of potentially harmful organisms through ballast water. The regulation is scheduled to be phased in globally over a ten-year period beginning in 2010, and industry sources estimate that it will require treatment of ballast water from more than 40,000 vessels by 2020.
Hyde Marine's Hyde Guardian system (Guardian), which employs stacked disk and ultraviolet light technology to filter and disinfect ballast water, offers cost, safety, and technological advantages. Guardian has received Type Approval from Lloyd's Register on behalf of the U.K. Maritime and Coast Guard Agency. Type Approval confirms compliance with the BWMC.
Commenting on the announcement, John Stanik, Calgon Carbon's president and CEO, said, "We are very pleased that Hyde Marine will become part of our UV business. Although small, this strategic acquisition will broaden our knowledge base and experience in using ultraviolet light technology to treat water. It also provides Calgon Carbon immediate entry into a global, legislative-driven market with major long-term growth potential."