Following Sumitomo Heavy Industry’s purchase of Amec Foster Wheeler’s circulating fluidised bed business, TEI Times caught up with Tomas Harju-Jeanty to discuss the deal and the opportunities it presents. Junior Isles
published in The Energy Industry Times, September 2017 Issue
It is always a big decision to spend hard-earned money to acquire a new business, especially during challenging market conditions. But there are times when some acquisitions make perfect sense for all involved. According to Tomas Harju-Jeanty, CEO at the newly formed Sumitomo SHI FW (SFW), the recent acquisition of Amec Foster Wheeler’s (Amec FW) circulating fluidised bed (CFB) boiler business by Sumitomo Heavy Industries is one such deal.
“While there has been less consolidation in the industry than I would have expected, I think that Sumitomo was ready to take the opportunity when it appeared. One of the biggest reasons was the long-term friendship and cooperation that Foster Wheeler has had with Sumitomo Heavy Industries for around 20 years,” he says, adding: “During this period the Foster Wheeler CFB has become the core business for Sumitomo’s Energy and Environment business area.”…Read full article