Fortum sells its turbine and generator services

Fortum has agreed on the sale of its turbine and generator services to Elcoline Group Oy, which offers industrial maintenance services.

Fortum says that the sale is part of the strategic review of the company’s business operations. Circular Solutions business operations are not at the core of Fortum’s strategy, but Fortum’s strategy focuses on producing clean energy and promoting industrial decarbonization in the Nordic countries.

The turbine and generator services that are the subject of the transaction are located in Finland, Sweden and Germany. They employ approximately 170 employees.

Fortum’s according to which the transaction does not materially affect its result. The transaction is estimated to be completed during the end of the year.

Elcoline says that the acquisition strengthens its position as a producer of technical services for industry and expands the supply of service services and maintenance of critical infrastructure.