Power and automation technology group ABB and Baldor Electric Company, a U.S. business in industrial motors, have agreed that ABB will acquire Baldor in an all-cash transaction valued at approximately $4.2 billion, including $1.1 billion of net debt. ABB reports that the acquisition will strengthen its position as “a leading supplier of industrial motion solutions, and will also enable ABB to tap the huge potential in North America for rail and wind investments, both of which are expected to grow rapidly in coming years.”
ABB says the U.S. market for high-efficiency motors is expected to grow 10 to15 percent in 2011 on the back of new regulations. Read more.
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