Fuji Electric Corp. has entered into a definitive agreement to acquire the turbine and power plant service business of RTS Holdings, Inc., and its subsidiaries ("RTS"), headquartered in Sullivan, MO. The acquisition is part of Fuji Electric's global expansion plan, which is focused on expanding the company's energy-related businesses through the acquisitions of strategically placed regional businesses abroad.
"With many power plants aging in recent years, the need for inspection, repair, and maintenance services is increasing," said Phil Charatz, president and CEO of Fuji Electric Corp. of America. "This acquisition will serve to expand Fuji Electric's power generation business in the Americas and strengthen our ability to capture new orders for power production equipment as existing equipment requires replacement."
Officials said the acquisition of RTS will help to increase Fuji Electric's service capabilities, addressing the growing demand for maintenance and repair services and broadening Fuji Electric's existing service area and network.
"Fuji Electric's customers will benefit from this acquisition, as we will now be able to offer them a broader range of maintenance and post-sales service options," added Charatz. "The specialized knowledge, techniques, and equipment that will be gained will enable us to quickly deploy service personnel for inspections, repairs, and maintenance calls, thus reducing downtime."