ABB – Farewell to solar business

ABB – Farewell to solar business
23
Jul

At the beginning of July, the Swiss corporation signed the agreement for the divestment of the solar inverter business, sold to the Italian Italian power electronics manufacturer Fimer.

The agreement is strategic for both companies, for through this Fimer further enriches its product portfolio for the solar segment, which has become since some years the company’s core business, alongside the e-mobility business unit (slowly replacing the original Welding Division)

On the other hand, ABB chooses to focus on more profitable activities, with faster grow rates, abandoning the production of solar inverters – always among the company’s best sellers but with an ever-low margin.

The ABB solar inverters (up to now part of the Electrification unit), which in 2018 alone generated revenues for 290$ million, have always been a significant voice in Intech Automazione’s offer.

The operation is expected to be finalized by the beginning of 2020.
Fimer is committed to achieving a gradual and not excessively burdensome transition for the approximately 800 dependents operating in 30 countries.

 

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