Engie has announced what it says is a major step in developing energy services in Latin America, through the acquisition of IMA in Chile.
Engie subsidiary Cofely, has completed the purchase of the leading provider of industrial services (maintenance and solutions) to major customers in mining, energy generation and industry.
In effect it means Engie will represent the Chilean leader in energy services with $101m of yearly revenues and 1,700 employees, serving more than 200 customers in all sectors.
Combined with its existing energy services operations in Chile (Cofely Térmika and Energía del Sur), this new acquisition will enable Engie to offer multi-technical services both in the commercial and the industrial sector, having now internal capabilities in all technical skills.
It will contribute to accelerate its development in the industrial market, develop energy efficiency and decentralized energy proposals to the current customers of IMA. Engie will thus use this platform to enter in energy services in other Latin American countries like Peru.
This acquisition is in line with the Group strategy to be leader in energy transition in Europe and to develop its European leading position in energy services on an international scale. The Group has recently reaffirmed its ambition to double its energy efficiency revenues outside Europe by 2020.