This transaction is part of the Motion business area’s profitable growth strategy.
ABB purchased Siemens’ low voltage NEMA motor business. With manufacturing operations in Guadalajara, Mexico, this acquisition provides a well-regarded product portfolio, a longstanding North American customer base, and an experienced operations, sales, and management team, stated ABB.
The business employs around 600 people and generated revenues of approximately $63 million in 2021. Financial terms of the transaction were not disclosed. The transaction is expected to close in the second quarter of 2023.