Acwa Field Services Acquires EthosEnergy's Steam Turbine Business in Poland | energynews. pro
Acwa Field Services, the field maintenance and technical services subsidiary of Saudi-listed group Acwa (Tadawul: 2082), announced the acquisition of the steam turbine services entity of EthosEnergy Sp. . . .
Acwa Field Services, the field maintenance and technical services subsidiary of Saudi-listed group Acwa (Tadawul: 2082), announced the acquisition of the steam turbine services entity of EthosEnergy Sp. z. o. o. , based in Wrocław, Poland. The transaction transfers to Acwa Field Services the 85 employees of the business, its specialist assets, existing contracts, intellectual property, and an already engaged service backlog. The business will operate under the name Acwa Field Services Poland. A strategic entry into the European marketThe acquisition marks Acwa Field Services' first move into the European Union and the opening step of a deliberate growth strategy aimed at expanding the group's field services business globally. According to the company, the deal strengthens its steam turbine field services capability, adds specialized engineering and technical expertise, and widens its execution footprint across Europe. The Polish entity already has a skilled workforce, specialist equipment and a live contract base operating in the market. Matthew York, President of Acwa Operations, said owning a specialist maintenance capability, rather than contracting it out, would give the group greater control over performance, cost and reliability across its fleet. According to him, acquiring EthosEnergy's steam turbine business in Poland would immediately provide Acwa with the team, technical depth and customer relationships needed to build a strong European service business. EthosEnergy continues to simplify its portfolioAna Amicarella, Chief Executive Officer of EthosEnergy, said the transaction supports the company's strategy to simplify its portfolio and strengthen its focus on core operations. According to her, the steam turbine business in Wrocław is joining an organization whose expertise and long-term growth ambitions align closely with its own. She added that the business would, according to EthosEnergy, continue serving clients across the oil and gas, power generation and industrial manufacturing sectors. Acwa Field Services Poland will operate as an integral part of the Acwa group, extending the subsidiary's reach into independent power producers, government utilities and the oil and gas sector. Acwa's current portfolio spans 111 assets across 16 countries, representing 468. 9 billion Saudi riyals (125 billion dollars) of assets under management, according to figures disclosed by the group.