GE: DISPOSAL OF GE INDUSTRIAL SOLUTIONS FINALISED02/07/2018
ABB has announced that it has finalised the acquisition of GE Industrial Solutions (GEIS), GE's global electrification solutions business, a deal worth 2.6 billion dollars that was announced in September 2017.
Headquartered in Atlanta, Georgia, the division in question has approximately 13,500 employees worldwide. It generates revenues of approximately 2.7 billion dollars, with an EBITA margin of around 6%.
This deal will reinforce ABB's position as the world's second largest electrification company, along with its access to the North American market. It has the potential to make annual cost synergies of approximately 200 million dollars.