Important notice about forward-looking information: This press release contains "forward-looking statements" relating to the acquisition of GE Industrial Solutions by ABB. 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. “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. 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. By staying here you are agreeing to our use of cookies. 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. Home. Together. See all Industries 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. Credit Suisse and Dyal Co. acted as financial advisors to ABB, and Davis Polk & Wardwell provided legal counsel. 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. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. Services for Products and “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. Do you need a quote for a GE product or service? Systems: ABB's website uses cookies. A tighter relationship, theoretically but down the line, could help T&B construction products as well as industrial products, depending upon the distributor’s focus. What's New . 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. 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. 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). 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. 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 values our people, domain expertise, and our ability to operate in the segments where we have depth and experience. Services for Products and QuiXtra 4000 - Low voltage distribution boards up to 4000A. empower is ABB's premier eBusiness platform, enabling our employees, partners, and customers to manage all aspects of their relationship from quote and bid to order and delivery tracking. Callers from the UK should dial +44 207 107 06 13. 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. Home. 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. 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. A mart way to keep your catalogs up to date. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. GE was the market leader in the space many years ago. To make it easier to explore our full offerings, our url has changed. ABB Industrial Solutions empowers smarter business operations by connecting equipment, software, and services to protect, control, and optimize assets within electrical infrastructures. No forward-looking statement can be guaranteed. ABB and GE Control products include Contactors & Starters, Relays, Pump panels, Motor Control, Lighting Control, Relays & Timers, pilot devices, and power supplies for the NEMA and IEC markets. ABB operates in more than 100 countries with about 136,000 employees. From Sweden, the number to dial is +46 85 051 00 31, and from the rest of Europe, +41 58 310 50 00. ABB's website uses cookies. They will benefit from ABB’s innovative technologies and the ABB AbilityTM digital offering coupled with GE Industrial Solutions’ complementary solutions and market access. Learn more I agree. 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. 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. GE Critical Power is now part of ABB ABB recently acquired GE Critical Power and together, they offer a variety of UPS Systems to provide power protection for critical infrastructures and ensure high availability with a low total cost of ownership. 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. Reviewer(s) 5 5 4 3 3. The transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. After closing, this transaction will have an initial dampening effect to EP’s operational EBITA margin. Compact and safer electrical power equipment with a truly reliable top performance for your ship or boat. See all Industries Callers are requested to phone in 10 minutes before the start of the call. All salaries and reviews are posted by employees working at GE vs. ABB. 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 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. Meter stacks are mechanically and electrically built to bolt-up with main devices and other meter stacks. & utilities, Extensions, Upgrades and www.abb.com. Visit our web site today. “The product portfolios of GE Industrial Solutions and ABB are highly complementary. Industrial Solutions has the reliable parts and services you need. Stephanie Mains, who was previously the President and CEO of the GE Industrial Solutions business, will lead the new business unit as Managing Director. GE Industrial Solutions is now ABB. Learn More. Combining ABB & GE Industrial Solutions leading edge technologies offers you a new comprehensive one line construction package. From the ABB side, which is technology—we’re definitely taking a lot of good ideas that come from ABB's global reach. And from the GE side, it would be a strong heritage of supporting distribution, a strong heritage of supporting the industry. ABB is a pioneering technology leader that works closely with utility, industry, transportation and infrastructure customers to write the future of industrial digitalization and realize value. Reviewer(s) 8 7 5 4 4. Whether it's new construction or modernizing existing industrial facilities, GE offers complete product and service Such forward-looking statements can be identified by words such as plans, intends, expects, commits and other similar terms. By staying here you are agreeing to our use of cookies. By staying here you are agreeing to our use of cookies. If you require help during the login process, send us a note at empoweru@abb.com. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. ABB operates in more than 100 countries with about 135,000 employees. 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. EthosEnergy’s OOEM (Other Original Equipment Manufacturer) Services consist of GE, ABB, and ALSTOM Gas Turbine Services. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. ABB will retain the GE Industrial Solutions management team and build on its experienced sales force. ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. “We are very pleased to welcome GE Industrial Solutions to ABB,” said ABB CEO Ulrich Spiesshofer. ABB looks to complement its Electrification Products division by adding GE’s Industrial Solutions branch. Such forward-looking statements can be identified by words such as plans, intends, expects, commits and other similar terms. “The combination reinforces ABB’s position as a worldwide leader in electrification and accelerates our growth and competitiveness in key markets, particularly North America. Each invention further fuels innovation and application across our industrial sectors. “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. Callers from the UK should dial +44 207 107 06 13. 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. 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. 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). Let’s write the future. 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. ABB’s Electrification Business Area is a global leader in electrical products and solutions. Included in the acquisition is a long-term right to use the GE brand. Together. EthosEnergy is a full-service provider, offering GE Gas Turbine and other OOEM Gas Turbine services; Component Repairs, Parts, Rotor Solutions, … The event will be accessible by conference call. ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. What's New . Available today to meet your current and future project needs. 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. Zurich - ABB announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE will also benefit through an expanded strategic supply relationship with ABB as the two companies work together.”. 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. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year one. Show More (9) "Willingness to Recommend" is calculated based on the responses to the question "Would you recommend this product to others?" ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 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. Operational EPS is a non-GAAP measure of performance; a definition of this measure can be found in ABB’s annual report. The majority of GE’s installed base uses the Dlan+ (Arcnet) communication protocol, which is the basis for the upgrade path. ABB will retain the GE Industrial Solutions management team and build upon its experienced sales force. 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.