GE: sale of industrial solutions division to ABB.
(CercleFinance.com) - Confirming rumours in the press last Friday, ABB has announced an agreement with General Electric to acquire its industrial solutions business for 2.
6 billion dollars, a deal that is expected to be completed in the first half of 2018.
Headquartered in Atlanta, Georgia, the business concerned has approximately 13,500 employees worldwide. It generates sales of approximately 2.7 billion dollars, with an EBITA margin of around 6%.
The Swiss-Swedish group explains that this deal will strengthen its position as the world's second largest electrification company, along with its access to the North American market. It represents potential annual cost synergies of approximately 200 million dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
6 billion dollars, a deal that is expected to be completed in the first half of 2018.
Headquartered in Atlanta, Georgia, the business concerned has approximately 13,500 employees worldwide. It generates sales of approximately 2.7 billion dollars, with an EBITA margin of around 6%.
The Swiss-Swedish group explains that this deal will strengthen its position as the world's second largest electrification company, along with its access to the North American market. It represents potential annual cost synergies of approximately 200 million dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.