Given this transaction, ABB has decided to put the previously announced share buyback program on hold. billion; the transaction will be operationally accretive in year one. Under the acquisition, ABB has a long term right to use the GE brand and will retain the GE Industrial Solutions management team. The 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. 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. The $2.6 billion transaction offers substantial value creation potential within & utilities, Extensions, Upgrades and your password 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. 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. 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. “The combination reinforces ABB’s position as a worldwide leader in electrification and accelerates our growth and competitiveness in key markets, particularly North … The $2.6 billion transaction offers substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB… They will benefit from ABB’s innovative technologies and the ABB AbilityTM digital offering coupled with GE Industrial Solutions’ complementary solutions and market access. ABB will acquire GE Industrial Solutions for $." Services for Products and 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. ABB completes its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. 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. www.abb.com. GE Industrial Solutions has deep customer … 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. Included in the acquisition is a long-term right to use the GE brand. 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. Join to Connect. By staying here you are agreeing to our use of cookies. ABB to acquire GE Industrial Solutions. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. No forward-looking statement can be guaranteed. ABB says the transaction provides growth opportunities by coupling ABB’s digital offering, ABB Ability, with the GEIS installed base. Such forward-looking statements can be identified by words such as plans, intends, expects, commits and other similar terms. Such forward-looking statements can be identified by words such as plans, intends, expects, commits and other similar terms. ABB. 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. 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's website uses cookies. Services for Products and 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. 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. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. GE Industrial Solutions is headquartered in Atlanta, Georgia, and has about 13,500 employees around the world. 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. ... ABB completes acquisition of GE Industrial Solutions. Callers from the UK should dial +44 207 107 06 13. Systems: ABB's website uses cookies. As part of the transaction and overall value creation, ABB and GE have agreed to establish a long-term, strategic supply relationship for GE … See all Industries ABB's website uses cookies. www.GE.com, 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. 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. 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). From Sweden, the number to dial is +46 85 051 00 31, and from the rest of Europe, +41 58 310 50 00. Credit Suisse and Dyal Co. acted as financial advisors to ABB, and Davis Polk & Wardwell provided legal counsel. “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. Included in the acquisition is a long-term right to use the GE brand. 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. 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. Welcome! 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. 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. your username. ABB commits to returning EP to its target margin corridor of 15-19 percent during 2020. “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. 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. July 20, 2018 — ABB has completed its acquisition of GE Industrial Solutions ( GEIS ), GE’s electrification solutions business. Together we will have a comprehensive combined portfolio, as well as an expanded global footprint, sales force and distribution network,” said Tarak Mehta. By staying here you are agreeing to our use of cookies. ABB operates in more than 100 countries with about 135,000 employees. & utilities, Extensions, Upgrades and Log into your account. By staying here you are agreeing to our use of cookies. ABB and SGEG will continue to operate as long-term partners via a multi-year mutual supply agreement. Lines will be open 10-15 minutes before the start of the call. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. July 6. After closing, this transaction will have an initial dampening effect to EP’s operational EBITA margin. ABB has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business. ABB acquired a 60 percent stake in the two joint ventures as part of the GE Industrial Solutions acquisition in 2018. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year one. Retrofits, Strengthens ABB’s #2 global position in electrification, Expands access to attractive North American market, Expected annual cost synergies of approximately $200 million in year five confirmed. 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. 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.”. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30. No forward-looking statement can be guaranteed. 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. 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. Whether it's new construction or modernizing existing industrial facilities, GE offers complete product and service 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. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. 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.”. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. 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. “We are very pleased to welcome GE Industrial Solutions to ABB,” said ABB CEO Ulrich Spiesshofer. - Press release - English (PDF / 78 kB)- Press release - German (PDF / 70 kB)- Presentation: Leadership in Electrification (PDF / 829 kB). ABB operates in more than 100 countries with about 136,000 employees. Motion. “With GE Industrial Solutions, we strengthen our Number 2 position in electrification globally and expand our access to the attractive North American market,” said ABB CEO Ulrich Spiesshofer. ABB’s Electrification Business Area is a global leader in electrical products and solutions, operating in more than 100 countries, with over 200 manufacturing sites. 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). ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30. ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year one. ABB completes acquisition of GE Industrial Solutions Birmingham, Alabama Area 500+ connections. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE's global electrification solutions business on June 30, 2018. Callers are requested to phone in 10 minutes before the start of the call. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. ABB acquires KEYMILE’s communication networks business to strengthen digital … Each invention further fuels innovation and application across our industrial sectors. 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). Auburn University. 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. 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. The GE products include circuit breakers, switchgear, components for lighting control and power supply equipment for facilities including data centers. This press release contains "forward-looking statements" relating to the acquisition of GE Industrial Solutions by ABB. With the sale now complete, SGEG now owns the two Shanghai companies. Stephanie Mains, who was previously the President and CEO of the GE Industrial Solutions business, will lead the new business unit as Managing Director. The event will be accessible by conference call. Zurich-based ABB has completed its acquisition of GE Industrial Solutions (GEIS) in a deal worth about $2.6 billion. ABB will retain the GE Industrial Solutions management team and build upon its experienced sales force. ABB completes acquisition of B&R. ABB Industrial Solutions empowers smarter business operations by connecting equipment, software, and services to protect, control, and optimize assets within electrical infrastructures. In 2016, GE Industrial Solutions had revenues of approximately $2.7 billion, with an operational EBITDA margin of approximately 8 percent and an operational EBITA margin of approximately 6 percent1. The 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, and is expected to be accretive to operational EPS in the first year. The acquisition of GE Industrial Solutions, which closed in June 2018, further strengthened ABB's #2 global position in electrification. Jul 02, 2018. From Sweden, the number to dial is +46 85 051 00 31, and from the rest of Europe, +41 58 310 50 00. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. GE delivers comprehensive product and service solutions to meet your unique industry challenges. 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. La transaction a été annoncée le 25 septembre 2017, et on prévoie un accroissement des BPA opérationnels au cours de la première année. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE's global electrification solutions business on June 30, 2018. EP offers a comprehensive portfolio of low- and medium-voltage products and solutions for a smarter, more reliable flow of electricity from substation to socket. “ABB values our people, domain expertise, and our ability to operate in the segments where we have depth and experience. ABB completes acquisition of KEYMILE's communication networks business. 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. 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. The acquisition is expected to close in the first half of 2018. ABB’s relationship with China dates back to 1907. By staying here you are agreeing to our use of cookies. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. www.abb.com. A conference call and webcast for analysts and investors is scheduled to begin today at 12:00 p.m. CET (11:00 a.m. BST, 6:00 a.m. EDT). The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. For more than a century, GE has designed, built, installed and serviced the electrical distribution equipment that keeps industrial operations powered and productive. See all Industries 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. 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 transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. Some of the GEIS Products that we feature, include: Circuit breakers ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. The 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 and is expected to be accretive to operational EPS in the first year. September 15. 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. 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 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. www.abb.com/investorrelations, Since Thomas Edison patented the world’s first circuit breaker, GE Industrial Solutions has been transforming the future of electrification. GEIS is the company’s global electrification business. Learn more I agree. Motion is the #1 player in the market globally. Powertech Controls is proud to be an authorized GEIS product distributor. The transaction is expected to close in H1 2018, subject to customary regulatory clearances. 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. 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). 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, 2017. The transaction was announced on Sept. 25, 2017, and … “The product portfolios of GE Industrial Solutions and ABB are highly complementary. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. 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. 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. The $2.6 billion transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. ABB completes GE Industrial Solutions acquisition. July 3. 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. GE Industrial Solutions' EBITA margin of 6% lags that of ABB electrification products of around 15% and of close industry peers, signalling a need for significant revamp. When navigating to the GE Industrial website, you may have noticed that the branding has officially changed from GE to ABB. Systems: ABB's website uses cookies. “The combination reinforces ABB’s position as a worldwide leader in electrification and accelerates our growth and competitiveness in key markets, particularly North America. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. Our 55,000+ employees are dedicated to delivering safe, smart and sustain-able electrification. ABB's Motion business provides a range of electrical motors, generators, drives and services, as well as integrated digital powertrain solutions. ABB expects to realize approximately $200 million of annual cost synergies in year five, which will be key in bringing GEIS to peer performance. 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). 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. 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. GE will also benefit through an expanded strategic supply relationship with ABB as the two companies work together.”. The $2.6 billion transaction offers substantial value creation potential within ABB, including growth 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. Learn more I agree. The product portfolios of GE Industrial Solutions for $. accroissement des BPA opérationnels au cours de première! Keymile 's communication networks business and Dyal Co. acted as financial advisors to abb and... Will be operationally accretive in year one sale now complete, SGEG now owns the two Shanghai.. By staying here you are agreeing to our use of cookies Co. as! La première année credit Suisse and Dyal Co. acted as financial advisors to abb, and is expected to accretive... Product portfolios of GE Industrial Solutions ( GEIS ), GE delivers better outcomes for customers by speaking the of. 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