3rd Dec 2024 12:28
(Alliance News) - ABB Ltd on Tuesday said it has bought Solutions Industry & Building, and delivered its retrofit solution to a Cemex SAB de CV plant in Poland.
The Zurich, Switzerland-based electrical engineering company said it has purchased Solutions Industry & Building, a manufacturer of construction industry building products and premium cable glands used to protect electrical equipment in industrial, railway and hazardous environment applications, in order to strengthen its market presence across Europe, the Middle East and North America.
In 2023, SIB generated revenue of around USD27 million.
ABB Installation Products division President Khalid Mandri said: "The need for safe and reliable electrification solutions continues to grow, and the addition of SIB brings an industry-leading portfolio and century of expertise to expand our capabilities and product range in highly specialised markets. Bringing together this team will strengthen our offering and complement portfolios as part of our ongoing strategy to invest in opportunities that accelerate growth, extend our reach in key markets and provide our customers high-quality, innovative solutions."
ABB also on Tuesday said it has delivered its retrofit solution to building material company Cemex's Rudniki plant in Poland, to upgrade the electrical switchgear powering the plant's furnace.
ABB Electrification Service Project Manager Kamil Schabinski said: "ABB products have transformed the plant’s operating conditions and the reliability and safety of its power supply. Their new circuit breakers can be connected to the cloud at any time, which will further increase their digital functionality and energy management."
Shares in ABB were down 0.2% at CHF50.96 each in Zurich on Tuesday afternoon.
By Emily Parsons, Alliance News reporter
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