ABB Ltd. (ABBN.EB) said Tuesday that Italy's Fimer SpA will acquire ABB's solar-inverter business and its associated liabilities. The Swiss industrial group said it will take an aftertax, non-operational charge of about $430 million in the second quarter from the deal. Around 75% of the financial hit will come from payments ABB will make to Fimer, and the company expects separation charges of around $40 million starting in the second half of 2019.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ABB quits solar inverter business, takes $430 million chargeABB will take a $430 million charge after quitting the solar inverter business a...
Read more »
ABB quits solar inverter business, takes $430 million chargeABB will take a $430 million charge after quitting the solar inverter business a...
Read more »
Here's why Dish is the most promising candidate to buy T-Mobile's divested assetsUS satellite TV company Dish has swooped in to help move forward T-Mobile's pending $26.5 billion merger with Sprint.
Read more »
China's war on pollution could boost solar power - studyChina's efforts to reduce chronic air pollution could increase its ability ...
Read more »
French business elite cut Macron slack for slower reform paceAssailed by social unrest and lagging in opinion polls, French President Emmanue...
Read more »