Elcoline to acquire the turbine and generator services from Fortum.

Elcoline, a company specialising in industrial technical services for international industrial companies, agreed to acquire the turbine and generator services from Fortum, an energy company. Financial terms were not disclosed. “This acquisition will accelerate Elcoline’s ambitious growth strategy and is an important step towards our EUR 250 million revenue target. In the coming year, our revenue is expected to reach almost €150m. The transaction will internationalise and expand our operations in important sectors such as energy and other industrial power producers. By joining forces with TGS, we will be able to offer our customers more specialised expertise and strengthen our position as a Nordic provider of technical services to industry,” Elina Engman, Elcoline CEO.