ABB Completes Acquisition of Siemens Low Voltage NEMA Motor Business
Recently, ABB announced it has completed its acquisition of the Siemens low voltage NEMA motor business. The transaction was originally announced August 11, 2022, and financial terms of the transaction were not disclosed. The business employs around 600 people and generated revenues of approximately $63 million in 2021. The acquisition of this business is part of the Motion business area’s profitable growth strategy. It strengthens ABB’s position as an industrial NEMA motor manufacturer, and it provides an even stronger platform from which ABB can better serve its global customers.
