ABB has announced it has completed its acquisition of the Siemens low voltage NEMA motor business. The transaction was originally announced August 11, 2022, and financial terms of the transaction were not disclosed. The business employs around 600 people and generated revenues of approximately $63 million in 2021.
The acquisition of the Siemens low voltage NEMA motor business is part of the Motion business area’s profitable growth strategy. It strengthens ABB’s position as a leading industrial NEMA motor manufacturer, and it provides an even stronger platform from which ABB can better serve its global customers.
The line of horizontal and vertical induction severe duty and general purpose motors will be re-branded as ABB and reintroduced to the market during second quarter of 2023.
The global NEMA motor industry, roughly $2.7 billion in size, comprises industrial electric motors primarily used within North America. NEMA motors are essential components used to run equipment in industries such as food and beverage, oil and gas, mining & aggregate, and water & wastewater and in applications like those which move air, liquids, and units.
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation.
ABB Ltd. is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden’s Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland’s Brown, Boveri & Cie merged to create ASEA Brown Boveri, later simplified to the initials ABB. Both companies were established in the late 1800s and were major electrical equipment manufacturers, a business that ABB remains active in today. The company has also since expanded to robotics and automation technology.
It is ranked 341st in the Fortune Global 500 list of 2018 and has been a global Fortune 500 company for 24 years. Until the sale of its Power Grids division in 2020, ABB was Switzerland’s largest industrial employer.
ABB is traded on the SIX Swiss Exchange in Zürich, Nasdaq Stockholm in Sweden, and the New York Stock Exchange in the United States.
An ABB entity pleaded guilty for bid rigging in 2001, and the company has had 3 US Foreign Corrupt Practices Act bribing resolutions against it – in 2004, 2010, and 2022.