ABB erweitert Elektrifizierungsportfolio durch Übernahme der Wiring-Accessories-Sparte von Siemens in China. Foto: ABB

ABB: Acquisition of Siemens’ Wiring Accessories division in China

ABB has announced the signing of an agreement to acquire Siemens’ Wiring Accessories business in China. The acquisition expands ABB’s market reach and complements its regional customer offering in the smart building sector. The acquired portfolio includes switch ranges, smart home systems, door communication and other complementary home control products, which will continue to operate under the Siemens brand on the basis of a license agreement. ABB will also gain access to an extensive distribution network in 230 Chinese cities and additional expertise from regional sales, manufacturing and management teams. Siemens’ Wiring Accessories business in China generated more than $150 million in revenue in 2023 and employs more than 350 people. The business will be a positive margin contributor for ABB and the transaction is expected to close within the next twelve months. Financial terms were not disclosed.

“The acquisition reflects our strategic direction and growth ambitions in China,” said Mike Mustapha, head of the Smart Building division of ABB’s Electrification business. “With the new market channel and expanded offering, we will provide a full range of ABB’s building automation and power distribution solutions, giving our customers more options in safe and reliable smart building technology.”

21.05.2024   |  

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