abb buys ge industrial solutions business

ABB is buying General Electric's Industrial Solutions unit for $2.6 billion to expand its reach in North American markets, the Swiss engineering company said on Monday. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with By Dipo Olowookere Swedish-Swiss multinational corporation headquartered in Zürich, ABB, has announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. It also expands ABB’s access to the North American market via GE’s large installed base and extensive distribution networks. ABB will retain the GE Industrial Solutions brand and management team and build upon its experienced sales force. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. The GE products include circuit breakers, switchgear, components for lighting control and power supply equipment for facilities including data centers. ABB has announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. ABB buys GE's industrial solutions unit for $2.6 billion ABB CEO Ulrich Spiesshofer says that for his company, GE's industrial solutions unit is "absolutely right in the sweet spot." GE Industrial Solu- Twitter. Ask an Expert Best of Both Resource Center Taking care of business together. ABB said it would finance the deal -- likely its last for some time -- with cash and did not need to raise equity capital. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. WhatsApp. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. The two companies also has a sourcing agreement. GE Industrial Solutions has deep customer relationships in more … ABB buys GE business for $2.6 billion in bet it can boost margins. Industrial Solutions empowers smarter business operations by connecting equipment, software and services to protect, control and optimize assets within electrical infrastructures. The $2.6 billion transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Print. Sarah Priestley: GE has also been in the news in the past week. On Monday, it was announced that Swiss power-grids maker ABB will buy General Electric's industrial-solutions business … ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. ABB announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business.GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. www.abb.com ABB’s Electrification Business Area is a global leader in electrical products and solutions, operating in more than 100 countries, with over 200 manufacturing sites. Zurich-based ABB has completed its acquisition of GE Industrial Solutions (GEIS) in a deal worth about $2.6 billion. 01:52 GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. “This acquisition strengthens our position as partner of choice for electrification globally and in North America," said Tarak Mehta, President of ABB’s EP division. 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