ABB announced today that it has signed an agreement for FIMER to acquire ABB's solar inverter business.
It is understood that ABB provides a comprehensive portfolio of power converters and inverters. It has manufacturing and R & D bases in Italy, India and Finland. The solar inverter business covers more than 30 countries and has nearly 800 employees. The transaction with FIMER will help ABB to focus its business portfolio on other growth markets.
Tarak Mehta, President of ABB's electrification business, said: "Stripping assets is in line with our ongoing systematic portfolio management strategy to enhance competitiveness and focus on revenue quality and higher growth areas. Solar is a mature and key focus for FIMER Therefore, we believe that they are a very good takeover of ABB's solar inverter business. FIMER's portfolio will support further sales growth. Through our smart low-voltage products, ABB will continue to integrate solar energy into a series of smart Solutions include smart buildings, energy storage and electric vehicle charging. "
ABB official website has not revoked the inverter business introduction
FIMER CEO Filippo Carzaniga said, "We are pleased to announce further steps in our development as FIMER's focus on solar business will greatly enhance this integration. We will develop new product platforms and innovative digital technologies To achieve a positive impact on the energy market. We will continue ABB's outstanding work in recent years, integrating valuable resources, knowledge and expertise from Italy and globally. As our investment portfolio strengthens, we are better able to shape this increasingly strategic business s future."
About ABB
ABB (ABBN: SIX Swiss Ex) is a leading technology leader providing comprehensive services to the digital industry. With over 130 years of innovation history, ABB is currently a leader in the digital industry with four customer-centric global leading businesses: electrification, industrial automation, motion and robotics and discrete automation, and through its common ABB capabilities Platform provides support. ABB's market-leading grid business will be divested to Hitachi in 2020. ABB has approximately 147,000 employees in more than 100 countries worldwide.
About FIMER
FIMER was founded in 1942 and has been active in the field of inverter technology since 1983. It is the eighth largest manufacturer of inverters in the world. Its main business is the production of inverters for photovoltaic power plants and the production of welding and charging stations for electric vehicles for its operations and integration plants in Vimelcate, Italy. FIMER has established its own competitive advantage based on continuous innovation and high quality, both in terms of products and customer service.