Fuji Electric Co., Ltd., 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, headquartered in Sullivan, Missouri, U.S.A and serving the North, Central, and South American markets.
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.
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.
Fuji Electric Co., Ltd. will be exhibiting at the GRC Annual Meeting & GEA Geothermal Energy Expo, September 20-23 at the Peppermill Resort Spa Casino, Reno, Nevada.