ABB – divestment of hi-voltage cable business

26
Sep

The Swiss-based Group signed an agreement with NKT Cables for the divestment of its global high-voltage cable business for 836 million euros.

high-voltage-cable

NKT Cables is a subsidiary company of the Danish NKT Group and it specializes in electric cables for networks of low, medium and high voltage, particularly for alternating current. Now the
company acquires a business with around 900 people and a manufacturing and R&D plant located in Karlskrona, Sweden.

This agreement represents a step in the active process of portfolio management run by ABB Group and marks the starting point for a long-term strategic partnership between the two companies, aimed to create a leading player in the cable industry

The transaction will be closed by 2017.

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