Amec completes $170m sale of boiler business to Sumitomo

Amec Foster Wheeler said it has completed the sale of its circulating fluidised bed (CFB) boiler business to Sumitomo Heavy Industries for $170m, which will be used to reduce net debt.

The CFB boiler business is the largest part of Amec's GPG unit. The remaining GPG steam generator businesses include the heat recovery steam generator and industrial boilers businesses and these are also expected to be sold during 2017, Amec said.

The North American aftermarket services business, originally part of GPG, is being retained and since the beginning of 2017, has been operating as part of Amec Foster Wheeler's power & process business.