Sumitomo completed the acquisition of a 45% stake in EEW.

Sumitomo, an electric services company, completed the acquisition of a 45% stake in EEW, a worldwide leading manufacturer of “Monopiles”, large diameter steel pipes used for the foundation of bottom-fixed offshore wind power generation. Financial terms were not disclosed. EEW is a worldwide leading supplier of monopiles. EEW’s strength is its mass production system enabled by sophisticated technology to bend extra-thick steel plates over 100mm thick and advanced high-quality welding technology. Sumitomo Corporation has been engaged in trading activities with EEW since the 2000s and has a strong business relationship with the company.