ABB has agreed to buy the wiring accessories business of German rival Siemens in China, the Swiss engineering group said on Friday. The acquisition will...
ZURICH - ABB has agreed to buy the wiring accessories business of German rival Siemens in China , the Swiss engineering group said on Friday.
Under the deal, which is expected to close in the next 12 months, ABB is acquiring a business which makes wiring accessories, smart home systems, smart door locks and other home automation products.The acquisition will give access to a distribution network across 230 cities in China and provide additional expertise from regional sales, manufacturing operations and management teams, ABB said.
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