Fortum to acquire two generator businesses in Sweden

Finland-based energy group Fortum will acquire the Swedish VG Power Turbo’s and VG Power Tools's generator businesses. Both companies operate in Västerås, Sweden and the company’s areas of expertise in turbo generators include maintenance, modernisation and balancing of all brands of generators. 

The value of the acquisition will not be disclosed by the parties. 

According to Fortum, 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.  

In a statement, Fortum said: “VG Power Turbo’s operations are an excellent complement to 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.”