Market Chatter: Itochu, Sankyu Plan SWTS Acquisition to Expand in Southeast Asia

MT Newswires04-09

Itochu (TYO:8001) and Sankyu (TYO:9065) plan to jointly acquire Singapore-based SWTS, splitting ownership equally, in a deal expected to close in May, subject to government approval, Nikkei reported Thursday.

The value is estimated at tens of billions of yen. The move gives the partners a regional platform in plant maintenance, with SWTS operating workshops across Asia and serving major energy clients, according to the report.

By handling repairs locally, the tie-up aims to cut turnaround times versus sending equipment overseas. It also broadens Sankyu's service scope and supports Itochu's expansion beyond North America, the report said.

The companies are targeting growth in Southeast Asia and the Middle East, while also pursuing demand from semiconductor facilities and data centers, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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