ABB, specialist in power and automation technologies, has declared that it is planning to purchase the operating business of ABS Global Industries and Services on April 1, 2011.
ABB India claimed that the acquisition represents an internal transfer from ABB Group to ABB India. The purpose of this acquisition was aimed at strengthening the ties between the two companies and their aligning businesses.
The newly acquired business proposals include LV breakers, transformer insulation, boards and components, and switches and vacuum interrupters. The two companies are expecting to create an extra revenue of around INR 250 crore annually.
This is the second acquisition that ABB India is making within a period of six months. On September 2010, the company acquired Metsys Engineering and Consultancy, a Bangalore-based company that provides technical solutions to the steel industry in India and other countries.
Source: http://www.abb.com/