TE Connectivity negotiating for ABB’s entrelec terminal block business
TE Connectivity (TE) has entered into negotiations with ABB to acquire its entrelec terminal block business. The business comprises research and development, product development, marketing and sales and management activities in Chassieu, France; and with main manufacturing sites in France and Poland.
“We believe the combination of the two portfolios will be more competitive on a larger scale under TE‘s ownership, while keeping all current sites and locations, and providing greater opportunities for customers and employees,” said Giampiero Frisio, managing director of ABB’s Business Unit Protection and Connection.
By adding the terminal block offering, under the product brand entrelec, TE believes it would be able to offer a complete system for power, signal and data connectivity with special focus on harsh environments. This will be a crucial part of TE’s future product portfolio.
Lars Brickenkamp, senior vice president and general manager of TE’s Industrial business unit, said: “This intended acquisition is a very effective strategic fit for TE and will offer new growth opportunities. It represents an important step in TE’s ability to offer its customers a broader and more complete product platform to help them to reduce complexity and drive innovation. Moreover, the expansion of our Industrial team with employees from ABB will significantly enhance TE’s collaboration with more customers on their innovation and automation projects. Closeness to customers will be a key driver for customer satisfaction in our new organisation and once final, we will work with ABB to ensure a smooth transition of the business.”
Source: Control Engineering Europe - All Articles