Sumitomo Heavy Industries completes share acquisition of FW Energie B.V.
Japan-headed Sumitomo Heavy Industries Ltd (SHI) has announced that it has completed the share acquisition of FW Energie B.V. culminating in the combination of SHI and Amec Foster Wheeler’s fluidized bed business to become Sumitomo SHI FW, a new global player in sustainable energy solutions.
In March this year, Amec Foster Wheeler revealed that it has signed an agreement to sell its core boiler business to SHI as part of its non-core disposal programme.
This has now been finalised and according to a statement, Sumitomo SHI FW will become part of the Energy and Environment Group within SHI dedicated to circulating fluidised bed (CFB) and bubbling fluidised bed (BFB) steam generators and gasifiers, CFB scrubbers, metallurgical waste heat boilers and aftermarket services. The company has sold over 450 CFB steam generating units around the world.
Combining our strong Foster Wheeler heritage with Sumitomo’s world-wide recognized name and skill will create a strong brand within and outside our traditional markets. Sumitomo SHI FW will have a deep commitment to technology innovation. Our goal is to provide clients with a sustainable value that will endure for the longer term, said Tomas Harju-Jeanty, CEO, Sumitomo SHI FW in a statement.