ABB says no interest in solar panel machinery buys

ZURICH, April 22 Mon Apr 22, 2013 4:16am EDT

ZURICH, April 22 (Reuters) - Automation technology group ABB's chief executive said on Monday the company had no interest in acquiring solar panel machinery makers.

His comments came after ABB said it would buy renewable energy firm Power-One Inc for around $1 billion to step up its presence in the growing solar power inverters market.

The CEO also said the acquisition of Power-One would be positive to net income within a year.

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