Schedule a Call Back
ABB acquires China-located Siemens’ Wiring Accessories; expands portfolio
Industry News- May 22,24
The acquisition will also give access to a wide distribution network across 230 cities in China and provide additional expertise from regional sales, manufacturing operations and management teams.
ABB has announced the signing of an agreement to acquire Siemens' Wiring Accessories business in China, aiming to enhance its market reach and complement its regional customer offerings in smart buildings. The acquisition encompasses wiring accessories, smart home systems, smart door locks, and other home automation products, all to be retained under the Siemens brand through a licensing agreement.
Additionally, ABB will gain access to a vast distribution network spanning 230 cities in China and benefit from the expertise of over 350 employees in regional sales, manufacturing operations, and management teams. With revenues exceeding $150 million in 2023, the acquisition is expected to be margin accretive to ABB and is anticipated to close within the next twelve months.
“This acquisition reflects our strategic focus and commitment to growth in China,” said Mike Mustapha, President, ABB Electrification’s Smart Buildings Division. “The new channel to market and expanded offering will help us deliver a full range of ABB building automation and energy distribution solutions, enriching customers’ options for safe and reliable smart buildings technology.”
As a technology leader in electrification and automation, ABB aims to facilitate a more sustainable and resource-efficient future by leveraging engineering expertise and software solutions to optimize manufacturing, transportation, power distribution, and operations. With over 140 years of experience and a workforce exceeding 105,000 employees, ABB remains dedicated to driving innovations that accelerate industrial transformation.
(Source: ABB)
Related Stories
Electrical & Electronics
Consistent Infosystems to revolutionise IT sector with H310C Motherboard launch
The H310C Motherboard supports 6th, 7th, 8th, and 9th Generation Intel® Core™ i3, i5, and i7 processors.
Read moreMachine Tools & Accessories
Digital maintenance of TRUMPF laser in Benz
TRUMPF is a high-tech company offering manufacturing solutions in the fields of machine tools and laser technology.
Read moreAutomation & Robotics
Ansys & IIT Bombay’s SINE Collaborate to support tech startups
Ansys will provide an evaluation or trial license for three months to the startups associated with SINE and will support them for the same.
Read moreRelated Products
Servo Drives, Fully Digital
ELECTRICAL & ELECTRONIC EQUIPMENT
Bristol
Industrial Electronics offers optimum quality, fully digital servo drives.
Fluorescent Pigments for Traffic Cone
ELECTRICAL & ELECTRONIC EQUIPMENT
Aron Universal Limited offers a wide range of fluorescent
pigments for traffic cone.
D C Choke
ELECTRICAL & ELECTRONIC EQUIPMENT
Miracle Electronic Devices Pvt Ltd offers a wide range of D C choke.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
