Elsewedy Electric Acquires 60% Stake in Thomassen Service for Enhanced Gas Turbine Operations
Elsewedy Electric has acquired a 60% majority stake in Thomassen Service, enhancing its gas turbine maintenance capabilities. The acquisition supports strategic growth and local service delivery amid rising demand for energy infrastructure in the Arabian Gulf.
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Elsewedy Electric has acquired a 60% majority stake in Thomassen Service, which includes operations in the Middle East and Africa, as well as its filter manufacturing unit. This acquisition aims to strengthen Elsewedy's capabilities in gas turbine maintenance and repair, aligning with the increasing demand for reliable energy solutions in the Arabian Gulf, particularly Saudi Arabia.
The deal is expected to reduce reliance on overseas facilities and improve service delivery efficiency. Elsewedy Electric is also developing two facilities in the UAE dedicated to gas turbine component repair, enhancing local operational capabilities. The partnership will accelerate technology investments and reinforce both companies' positions in the global energy services market.
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