ABB to acquire Envitech Energy
Power and automation technology group ABB has agreed to acquire Canada-based Envitech Energy to expand its technology offering in the electrical equipment and solutions sector for rail infrastructure.
Envitech Energy, headquartered in Pointe Claire, Quebec, Canada, has 36 employees and supplies rail electrical equipment and solutions for urban transportation applications, including traction rectifiers, traction power components, trackside braking energy absorption devices, automatic grounding and energy storage solutions. The Envitech Energy team will bring to ABB a wealth of engineering expertise and a strong entrepreneurial spirit to ABB’s North American power electronics and rail businesses, said Ulrich Spiesshofer, head of ABB’s Discrete Automation and Motion division.
ABB’s rail business revenue has grown over the last years at a compound annual rate of about 30%. In 2010, ABB secured more than $1bn in orders. The parties agreed to not disclose the value of the transaction, which is subject to the customary regulatory approvals. The acquisition is expected to be completed by the end of the year.
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