ABB to acquire Siemens low voltage NEMA motor business

ABB expands its low voltage NEMA motor portfolio to further establish itself as a leader in that segmentDelivers on ABB’s promise to expand into new markets and profitably grow market shareEstablished manufacturing operations in Mexico to support future growthAcquisition expected to be margin accretive to the ABB Motion business within 24 monthsABB announced today it has signed an agreement to purchase Siemens’ low voltage NEMA motor business. “This bolt-on acquisition creates strong value for ABB’s NEMA motors division,” said Tarak Mehta, President ABB Motion. We look forward to adding the Siemens low voltage NEMA motor portfolio to our existing offering of ABB and Baldor-Reliance® industrial electric motors.”The global NEMA motor industry, roughly $2.7 billion in size, comprises industrial electric motors primarily used within North America. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. www.abb.comImportant notice about forward-looking informationThis press release contains forward-looking statements relating to the acquisition by ABB of the Siemens low voltage NEMA motor business.