ABB to acquire Baldor Electric
Nov 30, 2010. ABB and Baldor Electric, a North American leader 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.
Nov 30, 2010. /Lesprom Network/. ABB and Baldor Electric, a North American leader in industrial motors, have agreed that ABB will acquire Baldor in an all-cash transaction valued at approximately $4.2 billion, the company said in a press release received by Lesprom Network.
The transaction closes a gap in ABB’s automation portfolio in North America by adding Baldor’s motors product line and positions the company as a market leader for industrial motors, including high-efficiency motors. Baldor also adds a growing and profitable mechanical power transmission business to ABB’s portfolio.