Zurich, Switzerland, July 11, 2011 - ABB, the leading power and automation technology group, has agreed to acquire the Trasfor Group to expand its offering of specialty transformers and address fast growing markets and applications.
Trasfor is a leading manufacturer of dry-type transformers and inductors for low-voltage and medium-voltage applications. It provides specialty products for drives, railway rolling stock, offshore wind power and other types of power generation based on renewable energy, and in addition supplies a range of industries such as marine, oil and gas.
The Trasfor Group generated revenues of about $130 million in 2010 with about 380 employees. The company has a manufacturing unit close to Lugano, Switzerland, where it is based, and two additional plants in Italy. The parties agreed not to disclose the purchase price or any further financial details of the transaction.
"This bolt-on acquisition is in line with ABB's strategy. It will strengthen our transformers business, broaden our customer offering and extend our market presence," said Bernhard Jucker, head of ABB's Power Products division. "Trasfor's energy-efficient product range complements our transformer portfolio and offers scope for synergies and growth."
Dry-type transformers are a growing part of the transformer business, and use materials such as resin for insulation instead of oil, making them less flammable and reducing impact on the environment.
"We are proud that our technology strengths and people competencies will become part of the ABB Group and see attractive opportunities for business growth and market expansion," said Gianpaolo Palladini, Chief Executive Officer of Trasfor.
The transaction is subject to customary regulatory approvals. ABB expects the closing to be completed during the second half of this year.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 124,000 people.