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- Advances ABB’s management place within the wiring equipment market
- Good points entry to an expansive distributor community to help development
ABB introduced immediately it has signed an settlement to accumulate Siemens’ Wiring Equipment enterprise in China. The acquisition will broaden ABB’s market attain and complement its regional buyer providing inside good buildings.
The providing ABB is buying consists of wiring equipment, good house methods, good door locks and additional peripheral house automation merchandise, which can proceed with the Siemens model beneath phrases of a licensing settlement.
The acquisition will even give entry to a large distribution community throughout 230 cities in China and supply extra experience from regional gross sales, manufacturing operations and administration groups. Siemens’ Wiring Equipment enterprise in China generated greater than $150 million in revenues in 2023 and consists of greater than 350 workers. The enterprise shall be margin accretive to ABB and the transaction is predicted to shut throughout the subsequent twelve months. Monetary phrases weren’t disclosed.
“This acquisition reflects our strategic focus and commitment to growth in China,” mentioned Mike Mustapha, President of ABB Electrification’s Good Buildings Division. “With the new channel to market and expanded offering, we can deliver a full range of ABB building automation and energy distribution solutions, enriching customers’ options for safe and reliable smart buildings technology.”
ABB is a expertise chief in electrification and automation, enabling a extra sustainable and resource-efficient future. The corporate’s options join engineering know-how and software program to optimize how issues are manufactured, moved, powered and operated. Constructing on over 140 years of excellence, ABB’s greater than 105,000 workers are dedicated to driving improvements that speed up industrial transformation.
Press launch from ABB.
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