From Sweden, the number to dial is +46 85 051 00 31, and from the rest of Europe, +41 58 310 50 00. www.abb.com. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. ABB's Motion business provides a range of electrical motors, generators, drives and services, as well as integrated digital powertrain solutions. ABB has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business. GEIS will be integrated into ABB’s Electrification Products (EP) division, led by EP President Tarak Mehta, as a new business unit called Electrification Products Industrial Solutions (EPIS). This press release contains "forward-looking statements" relating to the acquisition of GE Industrial Solutions by ABB. ABB finalises $2.6bn acquisition of GE Industrial Solutions 03 July, 2018 ABB has completed its $2.6bn acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business, to strengthen its position as global number two in this sector, behind Schneider Electric. Callers from the US and Canada should dial +1 866 291 41 66 (toll-free) or +1 631 570 56 13 (long-distance charges apply). Under the acquisition, ABB has a long term right to use the GE brand and will retain the GE Industrial Solutions management team. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30. ABB announced it has completed its acquisition of GE Industrial Solutions on June 30, 2018 and may now be referred to as ABB Industrial Solutions or Electrification Products Industrial Solutions (EPIS). As part of the transaction and overall value creation, ABB and GE have agreed to establish a long-term, strategic supply relationship for GE Industrial Solutions products and ABB products that GE sources today. ZURICH, July 2, 2018 —ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. GE Industrial Solutions will be integrated into ABB’s Electrification Products (EP) division, resulting in a unique global portfolio and very comprehensive offering for North American and global customers. Every day, we partner with our customers to solve their toughest energy challenges and reimagine industry in a way that only the world’s digital industrial company can. Such forward-looking statements can be identified by words such as plans, intends, expects, commits and other similar terms. ABB operates in more than 100 countries with about 135,000 employees. Together we will have a comprehensive combined portfolio, as well as an expanded global footprint, sales force and distribution network,” said Tarak Mehta. Auburn University. Motion. Callers are requested to phone in 10 minutes before the start of the call. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. Log into your account. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. “Combined with the long-term strategic supply relationship with GE, this transaction creates significant value for our shareholders.”, He added: “Together with the GE Industrial Solutions team, we will execute our well-established plans in a disciplined way to bring this business as part of the global ABB family back to peer performance. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Services for Products and The $2.6 billion transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. A conference call and webcast for analysts and investors is scheduled to begin today at 12:00 p.m. CET (11:00 a.m. BST, 6:00 a.m. EDT). July 20, 2018 — ABB has completed its acquisition of GE Industrial Solutions ( GEIS ), GE’s electrification solutions business. The acquisition is expected to close in the first half of 2018. ABB completes acquisition of GE Industrial Solutions Birmingham, Alabama Area 500+ connections. We have a clear integration plan to realize the synergies of this combination and to bring our combined business back into the target margin corridor during 2020.”. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. ABB Industrial Solutions empowers smarter business operations by connecting equipment, software, and services to protect, control, and optimize assets within electrical infrastructures. Powertech Controls is proud to be an authorized GEIS product distributor. your password ABB. Together we will strengthen ABB’s #2 position in electrification globally and expand our access to the attractive North American market.”, ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect ABB's business, particularly those identified in the cautionary factors discussion in ABB's Annual Report on Form 20-F for the year ended December 31, 2016. - Press release - English (PDF / 78 kB)- Press release - German (PDF / 70 kB)- Presentation: Leadership in Electrification (PDF / 829 kB). Motion is the #1 player in the market globally. The event will be accessible by conference call. ABB operates in more than 100 countries with about 136,000 employees. As title partner of Formula E, the fully electric international FIA motorsport class, ABB is pushing the boundaries of e-mobility to contribute to a sustainable future. Our 55,000+ employees are dedicated to delivering safe, smart and sustain-able electrification. Systems: ABB's website uses cookies. “The combination reinforces ABB’s position as a worldwide leader in electrification and accelerates our growth and competitiveness in key markets, particularly North … The $2.6 billion transaction offers substantial value creation potential within ABB, including growth GE delivers comprehensive product and service solutions to meet your unique industry challenges. The GE products include circuit breakers, switchgear, components for lighting control and power supply equipment for facilities including data centers. By staying here you are agreeing to our use of cookies. ABB completes acquisition of KEYMILE's communication networks business. For more than a century, GE has designed, built, installed and serviced the electrical distribution equipment that keeps industrial operations powered and productive. http://www.geindustrial.com/, GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. your username. Given this transaction, ABB has decided to put the previously announced share buyback program on hold. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. With this next step of active portfolio management, we continue to shift ABB’s center of gravity, in line with our Next Level strategy, by strengthening competitiveness, mainly in the North American market, and lowering risk with an early-cycle business.”, “This combination brings together two global businesses with a broad complement of electrical protection and distribution assets,” said John Flannery, CEO of GE. In 2016, GE Industrial Solutions had revenues of approximately $2.7 billion, with an operational EBITDA margin of approximately 8 percent and an operational EBITA margin of approximately 6 percent1. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. The $2.6 billion transaction offers substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB… ABB completes acquisition of B&R. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year.. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Some of the GEIS Products that we feature, include: Circuit breakers Operational EPS is a non-GAAP measure of performance; a definition of this measure can be found in ABB’s annual report. www.abb.com. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. The transaction was announced on September 25, 2017 and is expected to be accretive to operational EPS in the first year. ABB’s relationship with China dates back to 1907. Tarak Mehta, President of ABB’s EP division, said: “This acquisition strengthens our position as partner of choice for electrification globally and in North America. When navigating to the GE Industrial website, you may have noticed that the branding has officially changed from GE to ABB. July 3. Callers from the US and Canada should dial +1 866 291 41 66 (toll-free) or +1 631 570 56 13 (long-distance charges apply). “The product portfolios of GE Industrial Solutions and ABB are highly complementary. The transaction is expected to close in H1 2018, subject to customary regulatory clearances. www.GE.com, ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. ABB has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018; a transaction that was announced on September 25, 2017. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. ABB’s EP division delivers more than 1.5 million products to customers around the world every day through a global network of channel partners and end-customers. Learn more I agree. July 2, 2018 - ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. ABB completes GE Industrial Solutions acquisition. Jul 02, 2018. Zurich-based ABB has completed its acquisition of GE Industrial Solutions (GEIS) in a deal worth about $2.6 billion. “With GE Industrial Solutions, we strengthen our Number 2 position in electrification globally and expand our access to the attractive North American market,” said ABB CEO Ulrich Spiesshofer. EP offers a comprehensive portfolio of low- and medium-voltage products and solutions for a smarter, more reliable flow of electricity from substation to socket. As one of Thomas Edison’s original businesses, GEIS is the cradle of electrification – a legacy that we will preserve and build on, now that GEIS is part of ABB.”. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30. Included in the acquisition is a long-term right to use the GE brand. After closing, this transaction will have an initial dampening effect to EP’s operational EBITA margin. With the sale now complete, SGEG now owns the two Shanghai companies. They will benefit from ABB’s innovative technologies and the ABB AbilityTM digital offering coupled with GE Industrial Solutions’ complementary solutions and market access. The $2.6 billion transaction offers substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB’s digital offering, ABB Ability™, with the extensive GEIS installed base. GE Industrial Solutions' EBITA margin of 6% lags that of ABB electrification products of around 15% and of close industry peers, signalling a need for significant revamp. ABB's website uses cookies. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Such forward-looking statements can be identified by words such as plans, intends, expects, commits and other similar terms. We look forward to working with GE Industrial Solutions’ and ABB’s customers and channel partners to create new opportunities in this highly attractive core market for our division. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. ABB to acquire GE Industrial Solutions. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year one. 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