TE Connectivity now in exclusive negotiations to acquire ABB’s entrelec terminal block business
TE Connectivity (TE), a provider in connectivity and sensors, announced that it has entered into exclusive negotiations with ABB to acquire ABB’s entrelec® terminal block business. The transaction is subject to the satisfaction of certain conditions including receipt of customary regulatory approvals and prior consultation with employee representative bodies.
ABB’s entrelec® terminal block business was founded as entrelec in 1920 and serves customers in more than 70 countries. 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.
“The combination of the two portfolios will be more competitive on a larger scale under TE‘s ownership, providing greater opportunities for customers and employees,” said Tarak Mehta, president of ABB’s Electrification Products Division. “TE will be a good owner of this business. Combining our terminal block business with the strength of TE demonstrates ABB’s commitment to active portfolio management, a key element of our Next Level strategy.”
By adding the ABB’s entrelec® terminal block offering, under the product brand entrelec, TE would be able to offer a complete system for power, signal and data connectivity with special focus on harsh environments. This system would be a crucial part of TE’s future product portfolio – and would contribute to TE’s ability to offer customers some of the most comprehensive products, technologies and services within the industry.
Lars Brickenkamp, senior vice president and general manager of TE’s Industrial business unit comments: “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.”