ABB announces its intent to divest terminal block business to TE Connectivity

2018-01-11 - TE Connectivity (TE) and ABB today announced that they have entered into exclusive negotiations for TE to acquire ABB’s entrelec® terminal block business, which is part of ABB’s Electrification Products division. The transaction is subject to certain conditions including receipt of customary regulatory approvals and prior consultation with employee representative bodies

TE is a world leader in connectivity and sensors. The diverse range of connectivity solutions are essential elements in cars, planes, factories and more. TE operates in nearly 150 countries and employs 78,000 people, including more than 7,000 engineers. In 2017, revenue was $13 billion.

“The combination of the two portfolios will be more competitive on a larger scale under TE’s ownership, providing greater opportunities for customers and employees,” said Tarak Mehta, President of ABB's Electrification Products division. “TE will be a good owner of this business. Combining our terminal block business with the strength of TE demonstrates ABB’s commitment to active portfolio management, a key element of our Next Level strategy.”

ABB’s terminal block business, which provides different technologies such as screw, PI-Spring and pluggable, was founded as entrelec® in 1920 and serves customers in more than 70 countries. The business comprises research and development, product development, marketing and sales and management activities in Chassieu, France and with main manufacturing sites in France and Poland.

By adding ABB’s entrelec® terminal block offering, under the product brand entrelec, TE would be able to offer a complete system for power, signal and data connectivity with special focus on harsh environments.

Lars Brickenkamp, senior vice president and general manager of TE’s Industrial business unit comments: “This intended acquisition is a very effective strategic fit for TE and will offer new growth opportunities. It represents an important step in TE’s ability to offer its customers a broader and more complete product platform to help them to reduce complexity and drive innovation. Moreover, the expansion of our Industrial team with employees from ABB will significantly enhance TE’s collaboration with more customers on their innovation and automation projects. Closeness to customers will be a key driver for customer satisfaction in our new organization and once final, we will work with ABB to ensure a smooth transition of the business.”

TE Connectivity Ltd. (NYSE: TEL) is a $13 billion global technology and manufacturing leader creating a safer, sustainable, productive, and connected future. For more than 75 years, our connectivity and sensor solutions, proven in the harshest environments, have enabled advancements in transportation, industrial applications, medical technology, energy, data communications, and the home. With 78,000 employees, including more than 7,000 engineers, working alongside customers in nearly 150 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat and Twitter.

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. Continuing a history of innovation spanning more than 130 years, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. As title and technology 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. ABB operates in more than 100 countries with about 136,000 employees. www.abb.com


For more information please contact:

Natalie Hodges

ABB Ltd
Media Relations ManagerAffolternstrasse 44
Electrification Products Division
Phone: +41 (0)43 317 54 04
E-mail: natalie.hodges@ch.abb.com
8050 Zurich
Switzerland

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