Fortum to acquire VG Power Turbo's generator businesses
Fortum has announced that it is to acquire VG Power Turbo AB’s and VG Power Tools AB's generator businesses in a bid to offer an "unparalleled range of services" in the Nordic countries for all areas of turbine plants.
Finland-headed energy utility major Fortum Oy has announced that it will acquire VG Power Turbo AB’s and VG Power Tools AB’s generator businesses. Both of the Swedish companies operate in Västerås, Sweden and the company’s areas of expertise in turbo generators include maintenance, modernization and balancing of all brands of generators.
The value of the acquisition will not be disclosed by either party.
According to a statement, the competence areas of Fortum and VG Power Turbo AB complement each other very well and will offer customers “an unparalleled range of services” in the Nordic countries for all areas of turbine plants.
Our goal is to together provide our customers with a broader service offering. We aim to together strengthen our position, particularly in the Swedish markets, and to also pursue growth elsewhere, said Heikki Andersson from Fortum’s Power Solutions business area.
With the acquisition, a total of 18 electricity and generator sector professionals will transfer from VG Power Turbo to Fortum and complement Fortum’s Turbine and Generator Solutions business and strengthen the modernisation and balancing services for rotors.
VG Power Tools AB’s Västerås site has two units to provide high-speed balancing for rotors between 30-110 tonnes. This service is unique in the Nordic countries and is available for rotors of any brand of generator.