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Agency / Source: ABB Robotics / ABB Ltd

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ABB Completes the Sale of Power-One’s Power Solutions Business to Bel Fuse - Divestment in line with ABB’s strategy to continuously optimize its portfolio [NASDAQ: BELFA] [NASDAQ: BELFB] - BelFuse.com / ABB.com
ABB Completes the Sale of Power-One’s Power Solutions Business to Bel Fuse

 

PRZOOM - /newswire/ - Zurich, Switzerland, 2014/06/20 - Divestment in line with ABB’s strategy to continuously optimize its portfolio [NASDAQ: BELFA] [NASDAQ: BELFB] - BelFuse.com / ABB.com. NYSE: ABB

   
 
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ABB, the leading power and automation group, announced today it has completed the sale of Power-One’s Power Solutions business to Bel Fuse Inc., headquartered in Jersey City. The transaction, announced on April 28, closed on June 19, 2014.

ABB has divested Power Solutions because of a limited fit and few synergies with ABB’s other businesses. The unit was part of ABB’s acquisition of Power-One, Inc. Power-One’s solar inverter business is core to ABB’s renewable strategy and will remain in the portfolio of the group.

Bel (belfuse.com) and its divisions are primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation, and consumer electronics. The Company operates facilities around the world.

ABB (abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 150,000 people.

 
 
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Agency / Source: ABB Robotics / ABB Ltd

 
 

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ABB Completes the Sale of Power-One’s Power Solutions Business to Bel Fuse

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ABB | Bel Fuse, Inc.
Contact: Antonio Ligi / Thomas Schmidt - ABB.com 
+41 43 317 7111 media.relations[.]ch.abb.com
 
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