Wednesday, March 29, 2023

ABB sells power conversion

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The sale is still subject to regulatory approvals and is expected to be completed in the second half of 2023, ABB said in a statement on Friday. ABB expects a small non-operating book gain on closing of the transaction.

The Power Conversion division, formerly Lineage Power, essentially comprises the business with power converters that are used in the telecommunications sector, in data centers and in industry. It came to ABB with the acquisition of General Electric Industrial Solutions (GEIS) in 2018. The division is based in Plano, Texas, USA, and employs approximately 1,500 people worldwide.

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