ABB makes US purchase

ABB has announced the acquisition of US transformer company Kuhlman Electric Corporation for an undisclosed amount. Kuhlman manufactures transformers for the industrial and electric utility sectors.

ABB has announced the acquisition of US transformer company Kuhlman Electric Corporation for an undisclosed amount. Kuhlman manufactures transformers for the industrial and electric utility sectors.

Michel Demar's chief executive officer and chief financial officer said: "This transaction is the first milestone of our acquisition strategy, which is focused on finding bolt-on acquisitions that selectively complement both our product range and geographical presence."? He added that the acquisition will allow the company to provide a broader offering to its customers.

Kuhlman Electric is based in Kentucky in the US and employs 800 people and ABB hopes to conclude the transaction in the next few months. The firm will be investing in Kuhlman in order to modernise and expand the US utility infrastructure as well as increase reliability and efficiency.

Glenn Youngkin, manging director of the Carlyle Group, which sold Kuhlman, stated: "ABB is well positioned to further develop Kuhlman Electric's activities and operations."

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