PRZOOM - /newswire/ -
Zurich, Switzerland, 2011/12/09 - Hungary based firm to complement portfolio, expand market presence in Central and Eastern Europe and reinforce service thrust - ABB.com. NYSE: ABB
ABB, the leading power and automation technology group, has agreed to acquire General Trafo to expand its transformer service offering for distribution and small power transformers.
General Trafo is a leading transformer service company, providing utility and industrial customers with service solutions for distribution and small power transformers. The company employs about 40 people and has its base in Györ, Hungary.
The parties have agreed not to disclose the purchase price. The transaction is expected to close in the coming months and is subject to customary regulatory approvals.
“General Trafo will bring considerable domain expertise and help strengthen our service portfolio for distribution and small power transformers,” said Markus Heimbach, head of the Transformers business, a part of ABB’s Power Products division. “Service is a strategic focus area and we will continue to extend our offering and expand our market presence in this space.”
“We are delighted that our service portfolio and people competencies will become a part of ABB, the leading global transformer manufacturer, and we see attractive opportunities for growth and market expansion,” said Krisztián Keresztes, General Manager of General Trafo.
ABB provides a full range of transformer services including on-line monitoring, on-site repair, condition assessment, diagnostics and consulting. These solutions are aimed at maximizing return on transformer assets by ensuring high reliability, reducing life cycle costs and enabling optimized performance while lowering environmental impact.
ABB (abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering their environmental impact. The ABB Group of companies operates in around 100 countries and employs about 130,000 people.