Fuji Electric Corp. to purchase turbine, power plant company
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."