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ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30. ABB acquires KEYMILE’s communication networks business to strengthen digital … See all Industries ABB’s relationship with China dates back to 1907. “The combination reinforces ABB’s position as a worldwide leader in electrification and accelerates our growth and competitiveness in key markets, particularly North America. As one of Thomas Edison’s original businesses, GEIS is the cradle of electrification – a legacy that we will preserve and build on, now that GEIS is part of ABB.”. billion; the transaction will be operationally accretive in year one. ABB's Motion business provides a range of electrical motors, generators, drives and services, as well as integrated digital powertrain solutions. Our 55,000+ employees are dedicated to delivering safe, smart and sustain-able electrification. “We are committed to servicing the GEIS installed base and will now be able to provide a more technologically advanced and digitally connected offering to our customers around the world. Atlanta, Georgia-based GE Industrial Solutions was founded to design, sell and maintain electrical solutions for businesses and utilities, from the electrical grid to user endpoints. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE's global electrification solutions business on June 30, 2018. ABB operates in more than 100 countries with about 135,000 employees. July 2, 2018 - ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. ABB expects to realize approximately $200 million of annual cost synergies in year five, which will be key in bringing GE Industrial Solutions to peer performance. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30. We design electrical solutions at the crossroads of digital and industrial – smart, rugged and equipped to control electricity from the grid to its point of use. Stephanie Mains, who was previously the President and CEO of the GE Industrial Solutions business, will lead the new business unit as Managing Director. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. ABB commits to returning EP to its target margin corridor of 15-19 percent during 2020. ABB will host a press conference today starting at 9:00 a.m. Central European Time (CET) (8:00 a.m. BST, 3:00 a.m. EDT). The transaction was announced on September 25, 2017 and is expected to be accretive to operational EPS in the first year. “The combination reinforces ABB’s position as a worldwide leader in electrification and accelerates our growth and competitiveness in key markets, particularly North … The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Whether it's new construction or modernizing existing industrial facilities, GE offers complete product and service Operational EPS is a non-GAAP measure of performance; a definition of this measure can be found in ABB’s annual report. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. Every day, we partner with our customers to solve their toughest energy challenges and reimagine industry in a way that only the world’s digital industrial company can. ABB to acquire GE Industrial Solutions. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year one. - Press release - English (PDF / 78 kB)- Press release - German (PDF / 70 kB)- Presentation: Leadership in Electrification (PDF / 829 kB). ABB announced it has completed its acquisition of GE Industrial Solutions on June 30, 2018 and may now be referred to as ABB Industrial Solutions or Electrification Products Industrial Solutions (EPIS). The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Such forward-looking statements can be identified by words such as plans, intends, expects, commits and other similar terms. ABB says the transaction provides growth opportunities by coupling ABB’s digital offering, ABB Ability, with the GEIS installed base. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. Powertech Controls is proud to be an authorized GEIS product distributor. Motion is the #1 player in the market globally. ABB has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018; a transaction that was announced on September 25, 2017. Callers from the US and Canada should dial +1 866 291 41 66 (toll-free) or +1 631 570 56 13 (long-distance charges apply). As part of the transaction and overall value creation, ABB and GE have agreed to establish a long-term, strategic supply relationship for GE Industrial Solutions products and ABB products that GE sources today. Systems: ABB's website uses cookies. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. Included in the acquisition is a long-term right to use the GE brand. As part of the transaction, ABB has established a long-term strategic supply relationship with GE to supply them with products and solutions from across the ABB portfolio. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Callers from the UK should dial +44 207 107 06 13. your password ABB completes GE Industrial Solutions acquisition. ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Credit Suisse and Dyal Co. acted as financial advisors to ABB, and Davis Polk & Wardwell provided legal counsel. We have a clear integration plan to realize the synergies of this combination and to bring our combined business back into the target margin corridor during 2020.”. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. ZURICH, July 2, 2018 —ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. As part of the transaction, ABB has established a long-term strategic supply relationship with GE to supply them with products and solutions from across the ABB portfolio. Among other risks, there can be no guarantee that the acquisition will be completed, or if it is completed, that it will close within the anticipated time period or that the expected benefits of the acquisition will be realized. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. GEIS is the company’s global electrification business. Some of the GEIS Products that we feature, include: Circuit breakers GE Industrial Solutions will be integrated into ABB’s Electrification Products (EP) division, resulting in a unique global portfolio and very comprehensive offering for North American and global customers. Learn more I agree. ABB has invested more than $11 billion in the United States since 2010 and employs approximately 20,000 people across the country, with more than 60 R&D and manufacturing sites nationwide. ABB expects to realize approximately $ million of annual cost synergies in year five, which will be key in bringing GE Industrial Solutions to peer performance. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. ABB will retain the GE Industrial Solutions management team and build upon its experienced sales force. The acquisition of GE Industrial Solutions, which closed in June 2018, further strengthened ABB's #2 global position in electrification. ABB's website uses cookies. ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. “ABB values our people, domain expertise, and our ability to operate in the segments where we have depth and experience. Together we will strengthen ABB’s #2 position in electrification globally and expand our access to the attractive North American market.”, 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. “We are very pleased to welcome GE Industrial Solutions to ABB,” said ABB CEO Ulrich Spiesshofer. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Fitch believes that the acquisition will take a toll on ABB's profitability in the short term, which is being challenged by muted growth and pricing pressures. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. We look forward to working with GE Industrial Solutions’ and ABB’s customers and channel partners to create new opportunities in this highly attractive core market for our division. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. GE will also benefit through an expanded strategic supply relationship with ABB as the two companies work together.”. GE Industrial Solutions is headquartered in Atlanta, Georgia, and has about 13,500 employees around the world. Retrofits, Presentation: Leadership in Electrification (PDF / 829 kB), Acquisition will strengthen ABB’s #2 global position in electrification, Non-core GE business with significant value creation potential within ABB, Expands ABB’s access to the North American market through deep customer relationships, large installed base and extensive distribution networks, Potential for annual cost synergies of approximately $200 million, ABB and GE establish long-term, strategic supply relationship for ABB products, 2016 GE Industrial Solutions financial information adjusted to ABB financial definition. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect ABB's business, particularly those identified in the cautionary factors discussion in ABB's Annual Report on Form 20-F for the year ended December 31, 2016. & utilities, Extensions, Upgrades and Tarak Mehta, President of ABB’s EP division, said: “This acquisition strengthens our position as partner of choice for electrification globally and in North America. The $2.6 billion transaction offers substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB’s digital offering, ABB Ability™, with the extensive GEIS installed base. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. The call will also be accessible on the ABB website and a recorded session will be available as a podcast one hour after the end of the conference call and can be downloaded from our website. ABB’s EP division delivers more than 1.5 million products to customers around the world every day through a global network of channel partners and end-customers. By staying here you are agreeing to our use of cookies. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. With this next step of active portfolio management, we continue to shift ABB’s center of gravity, in line with our Next Level strategy, by strengthening competitiveness, mainly in the North American market, and lowering risk with an early-cycle business.”, “This combination brings together two global businesses with a broad complement of electrical protection and distribution assets,” said John Flannery, CEO of GE. ABB Industrial Solutions empowers smarter business operations by connecting equipment, software, and services to protect, control, and optimize assets within electrical infrastructures. The $2.6 billion transaction offers substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB… Learn more I agree. From Sweden, the number to dial is +46 85 051 00 31, and from the rest of Europe, +41 58 310 50 00. From Sweden, the number to dial is +46 85 051 00 31, and from the rest of Europe, +41 58 310 50 00. ABB will acquire GE Industrial Solutions for $." As title 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 a annoncé avoir complété son acquisition de GE Industrial Solutions (GEIS), entreprise mondiale en solutions d'électrification de la société GE, le 30 juin 2018. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year one. GE Industrial Solutions has deep customer … “The product portfolios of GE Industrial Solutions and ABB are highly complementary. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. With the sale now complete, SGEG now owns the two Shanghai companies. Together we will have a comprehensive combined portfolio, as well as an expanded global footprint, sales force and distribution network,” said Tarak Mehta. For more than a century, GE has designed, built, installed and serviced the electrical distribution equipment that keeps industrial operations powered and productive. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. The press release and presentation slides are available on the ABB News Center at www.abb.com/news and on the Investor Relations homepage at www.abb.com/investorrelations. Important notice about forward-looking information: This press release contains "forward-looking statements" relating to the acquisition of GE Industrial Solutions by ABB. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE's global electrification solutions business on June 30, 2018. ABB and GE Industrial Services merger: a $2.6bn deal to revamp GE division General Electric Company (NYSE:GE) – market cap as of 06/10/2017: $211.2bn ABB Ltd (SWX: ABBN) – market cap as of 06/10/2017: $53.3bn Introduction On September 25, 2017, ABB announced the acquisition of GE Industrial Solutions for a cash consideration of $2.6bn. No forward-looking statement can be guaranteed. ABB finalises $2.6bn acquisition of GE Industrial Solutions 03 July, 2018 ABB has completed its $2.6bn acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business, to strengthen its position as global number two in this sector, behind Schneider Electric. ABB. July 3. Under the acquisition, ABB has a long term right to use the GE brand and will retain the GE Industrial Solutions management team. ABB completes acquisition of KEYMILE's communication networks business. The $2.6 billion transaction offers substantial value creation potential within ABB, including growth Each invention further fuels innovation and application across our industrial sectors. Given this transaction, ABB has decided to put the previously announced share buyback program on hold. ABB operates in more than 100 countries with about 136,000 employees. Log into your account. Continuing a history of innovation spanning more than 130 years, ABB today is writing the future of industrial digitalization with two clear value propositions: bringing electricity from any power plant to any plug and automating industries from natural resources to finished products. ABB and SGEG will continue to operate as long-term partners via a multi-year mutual supply agreement. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year.. “Combined with the long-term strategic supply relationship with GE, this transaction creates significant value for our shareholders.”, He added: “Together with the GE Industrial Solutions team, we will execute our well-established plans in a disciplined way to bring this business as part of the global ABB family back to peer performance. July 6. Welcome! La transaction a été annoncée le 25 septembre 2017, et on prévoie un accroissement des BPA opérationnels au cours de la première année. When navigating to the GE Industrial website, you may have noticed that the branding has officially changed from GE to ABB. www.abb.com. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Motion. ABB completes acquisition of B&R. Callers are requested to phone in 10 minutes before the start of the call. The $2.6 billion transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. The transaction was announced on September 25, 2017, came into effect on June 30. ABB completes acquisition of GE Industrial Solutions Birmingham, Alabama Area 500+ connections. Included in the acquisition is a long-term right to use the GE brand. & utilities, Extensions, Upgrades and ABB acquired a 60 percent stake in the two joint ventures as part of the GE Industrial Solutions acquisition in 2018. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. http://www.geindustrial.com/, GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE delivers comprehensive product and service solutions to meet your unique industry challenges. Auburn University. September 15. This press release contains "forward-looking statements" relating to the acquisition of GE Industrial Solutions by ABB. ABB has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business. By staying here you are agreeing to our use of cookies. Such forward-looking statements can be identified by words such as plans, intends, expects, commits and other similar terms. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE's global electrification solutions business on June 30, 2018. ... ABB completes acquisition of GE Industrial Solutions. This is due to ABB completing the acquisition of GE Industrial Solutions (GEIS) to ABB’s Electrification Products (EP) division as of July 2018. GEIS will be integrated into ABB’s Electrification Products (EP) division, led by EP President Tarak Mehta, as a new business unit called Electrification Products Industrial Solutions (EPIS). 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