Edison, NJ – Fuji Electric Co., Ltd. (TSE:6504), headquartered in Tokyo, Japan, led by President Michihiro Kitazawa, is pleased to announce that its U.S. subsidiary Fuji Electric Corp. of America 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, Missouri, U.S.A and serving the North, Central, and South American markets. 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.”
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. RTS has a proven track record as a specialist in the field, primarily in the United States, and is recognized by power producers in the region for its ability to provide rapid response to repair and maintenance needs.
“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.”
RTS Holdings, Inc. (RTS) was established in 1984 in Sullivan, Missouri and is led by President Tim Weiss. With 60 employees, the company’s primary business activities are repairing and maintaining steam turbines and generators (as well as their peripheral devices). “RTS is very excited about the tremendous benefit that Fuji Electric’s world class products, engineering capabilities, and excellent reputation in the power generation industry will bring to RTS’ customers and our own team, as well,” said Tim Weiss. Upon completion of the acquisition, which is scheduled to be complete on August 31, 2015, Fuji Electric will have 100% ownership of RTS. Fuji Electric plans to continue providing the same repair and maintenance services.
About Fuji Electric Corp. of America
Fuji Electric Corp. of America is a wholly owned subsidiary of Fuji Electric Co., Ltd., and has been responsible for sales and distribution of the company’s products since 1970. Fuji Electric Co., Ltd. began developing power electronics equipment in 1923, and is a global leader in industrial products ranging from semiconductors, HMIs, power supply, and power generation equipment to AC drives and uninterruptible power systems.
For more information about Fuji Electric, visit www.americas.fujielectric.com or follow us on Twitter @FujiElectricFEA.
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