Sumitomo Corporation acquired FW Energie from Amec Foster Wheeler for $170m.

Sumitomo Corporation, one of the largest Japanese keiretsu, acquired FW Energie, a circulating fluidised bed boiler business, from Amec Foster Wheeler, a British multinational consultancy, engineering and project management company, for $170m. Tomas Harju-Jeanty, CEO, Sumitomo SHI FW, said: “Combining our strong Foster Wheeler heritage with Sumitomo’s world-wide recognized name and skill will create a strong brand within and outside our traditional markets. Sumitomo SHI FW will have a deep commitment to technology innovation. Our goal is to provide clients with sustainable value that will endure for the longer term.”