ABB expands its portfolio of low-voltage NEMA motors to further establish itself as a leader in this field
Deliver on ABB's commitment to enter new markets and grow market share profitably
Establish a manufacturing presence in Mexico to support future growth
The acquisition is expected to accretive to the ABB Motion business over a period of 24 months
ABB today announced that it has signed an agreement to acquire Siemens' low-voltage NEMA motor business. With manufacturing operations in Guadalajara, Mexico, the acquisition offers a highly regarded product portfolio, a long-standing North American customer base, and an experienced operations, sales, and management team. The business has about 600 employees and generated approximately $63 million in revenue in 2021. Financial terms of the transaction were not disclosed. The transaction is expected to close in the second quarter of 2023.
The transaction is part of a profitable growth strategy for the Motion business area and will enable NEMA's Motor division to enhance its product offerings, expand its supply chain relationships and improve support for its North American customer base. It also provides the opportunity to better support customers in Mexico through local manufacturing and sales. ABB expects to benefit from the identified synergies and leverage R&D expertise, supply chain relationships and market access to fully realize the potential of the combined portfolio.
Tarak Mehta, President of ABB Motion, said: "This acquisition creates significant value for ABB's NEMA Motor Division. "Investing in the business and opening up sales opportunities in North America, especially in Mexico, will enable the business to increase profits for the ABB Motion business within 24 months."
"We have always appreciated the quality and design of these motors," added Jesse Henson, President of ABB's NEMA Motor Division. "Now that we've met the leadership team behind them, I'm more confident that we can grow our combined business much faster than we could alone. We look forward to adding Siemens' portfolio of low-voltage NEMA motors to our existing ABB and Baldor-Reliance® industrial motor offerings." ”
The global NEMA motor industry is valued at approximately $2.7 billion and includes industrial motors primarily used in North America. NEMA motors are essential components used to run equipment in industries such as food and beverage, oil and gas, mining and aggregates, water and wastewater, and applications such as mobile air, liquids, and equipment.
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