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Agency / Source: ABB Robotics / ABB Ltd

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ABB Completes Divestment of U.S. Cable Factory to Southwire Company, LLC - Divestment is in line with ABB’s Next Level strategy to continuously optimize portfolio
ABB Completes Divestment of U.S. Cable Factory to Southwire Company, LLC

 

PRZOOM - /newswire/ - Zurich, Switzerland, 2015/08/04 - Divestment is in line with ABB’s Next Level strategy to continuously optimize portfolio. NYSE: ABB

   
 
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ABB, a leading power and automation technology group, announced today that it has completed the divestment of its Huntersville, North Carolina high voltage cable factory in the U.S. to Southwire Company, LLC, a leading North American wire and cable manufacturer headquartered in Carrollton, Georgia. The parties mutually agreed not to disclose the financial terms of the transaction.

ABB and Southwire will pursue a business relationship to leverage the facility for the land cable portion of certain HVDC projects. The divestment of the Huntersville facility is in line with ABB’s Next Level strategy to continuously optimize its business portfolio and to build strategic partnerships. ABB remains fully committed to the North American market and to the high-voltage cables business.

About ABB

ABB (abb.com) is a leader in power and automation technologies that enable utility, industry, and transport and infrastructure customers to improve their performance while lowering environmental im Michael Schiendorfer/ Antonio Ligi/ Sandra Wiesner -ABB.compact. The ABB Group of companies operates in roughly 100 countries and employs about 140,000 people.

ABB Group Media Relations
Michael Schiendorfer, Antonio Ligi, Sandra Wiesner.

 
 
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Agency / Source: ABB Robotics / ABB Ltd

 
 

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ABB Completes Divestment of U.S. Cable Factory to Southwire Company, LLC

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Contact: Press Office - ABB.com 
+41 43 317 7111 media.relations[.]ch.abb.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ABB Robotics / ABB Ltd securities in any jurisdiction including any other companies listed or named in this release.

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