Home » ABB Finalizes Thomas & Betts Buy
ABB Finalizes Thomas & Betts Buy
By Control Global Staff
The acquisition advances ABB's strategy of expanding its Low-Voltage Products division into new geographies,
sectors and products. In North America, the combination will double ABB's addressable market to approximately $24 billion. Thomas & Betts' has a North-American network of more than 6000 distributor locations and wholesalers, which will provide greater access for ABB's low-voltage products. In Europe and Asia, distribution capabilities and coverage will be expanded through ABB's well-established channels.
"The acquisition of Thomas & Betts furthers our global strategy and provides substantial opportunities to create value for our shareholders," said Joe Hogan, ABB's CEO. "ABB firmly believes in the strength of American manufacturing. Within the past three years, we have invested over $11 billion in North America to become a leading player for power and automation technologies in the region, and today the U.S. is ABB's largest market in terms of sales and employees."
Tarak Mehta, head of ABB's Low- Voltage Products division, added,. "Our joint low-voltage electrical components business is globally balanced and has one of the broadest scopes in the industry."
Dominic Pileggi will remain as chairman of Thomas & Betts, and Charles Treadway, previously chief operating officer, will take over from him as CEO. The headquarters of the company are in Memphis, Tenn.
"We are proud to join ABB and bring our skills, products and long-standing customer relationships into ABB's portfolio", said Treadway. "With our expanded product offering and global market presence, our combined companies have significant opportunities for growth."
In connection with the completion of the transaction, Thomas & Betts shares have ceased trading on the New York Stock Exchange.
West Texas Investigation Hampered by Inter-Agency Cat Fight
ATF and CSB in dispute about access to plant, witnesses, evidence.
ProComSol Distributes PowerXpress HART Power Solution
ProComSol Announces It Now Distributes PowerXpress HART Calibration Power Solution
Fieldbus Foundation Launches Project Gemstone
New initiative is designed to make the fieldbus experience easier, more application-centered.
Pressure Sensors Monitor Remote Field Safety Trailers
AST Pressure sensors are used to monitor Nomadic safety trailers in the field in remote oil field locations.
Great Moments in Process Automation History
Take a broken soda fountain machine, a car a.c. unit, flavor mixes, water and CO2, add inventiveness; you get America’s favorite frozen drink.
Smart Grid: Independent Testing Of Rossi's E-Cat Cold Fusion Device Shows Positive Results
Forbes magazine's tech contributor Mark Gibbs writes that independent testing of Andrea Rossi's E-CAT Cold Fusion Reactor has positive results.The implications of the possible commercialization of cold fusion power sources are incredible.
Compressor Controls: Saudi Aramco Buys First GE Compressor Control Systems
Saudi Aramco has purchased advanced compressor control technology from GE for the Haradh GOSP-1 facility in Saudi Arabia's Eastern Province.
SANS Control Security Training Coming to Houston
SANS Institute will hold ICS Security Training event on June 10-15 in Houston
ISA Training Through June in Houston
Technician training, engineering survival and SIS boot camps for condensed, intense, comprehensive educational experience.
NIST Releases Initial Cyber Security Framework Comment Analysis
The National Institute for Standards and Technology has released an initial analysis of the hundreds of comments by industry and the public they have received on the Obama Administration's "Improving Critical Infrastructure Cyber Security" executive order.
- All news »
Access the entire print issue on-line and be notified each month via e-mail when your new issue is ready for you. Subscribe today.
- Featured White Papers