FORTUM CORPORATION ONLINE NEWS 16 May 2017

Fortum will acquire the Swedish VG Power Turbo AB's and VG Power Tools AB's generator businesses. Both companies operate in Västerås, Sweden and the company's areas of expertise in turbo generators include maintenance, modernization and balancing of all brands of generators.

The value of the acquisition will not be disclosed by the parties.

The competence areas of Fortum and VG Power Turbo AB complement each other very well and will offer customers an unparalleled range of services in the Nordic countries for all areas of turbine plants.

'Our goal is to together provide our customers with a broader service offering. We aim to together strengthen our position, particularly in the Swedish markets, and to also pursue growth elsewhere', note Heikki Andersson from Fortum's Power Solutions business area.

With the acquisition, a total of 18 electricity and generator sector professionals will transfer from VG Power Turbo to Fortum.

VG Power Turbo's operations are an excellent complement to Fortum's Turbine and Generator Solutions business and strengthen the modernisation and balancing services for rotors. VG Power Tools AB's Västerås site has two units to provide high-speed balancing for rotors between 30-110 tonnes. This service is unique in the Nordic countries and is available for rotors of any brand of generator.

Fortum Corporation
Group Communications

Further information:
Heikki Andersson, Vice President, Power Solutions, Fortum, tel. +358 50 453 4092

Read more:
VG Power Turbo: http://vgpowerturbo.se/en/
Fortum's Turbine and Generator Solutions: Power Solutions /TGS

Fortum
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com

Fortum Oyj published this content on 16 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 May 2017 08:34:10 UTC.

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