ZURICH, June 27 Swiss engineering group ABB
said on Friday it would sell its Meyer Steel
Structures business to Trinity Industries Inc for $600
million in cash.
ABB, which is pruning its portfolio under new chief
executive Ulrich Spiesshofer, said it expected the sale to close
in the third quarter of this year, subject to regulatory
"This divestment is in line with our strategy for continuous
portfolio optimization and reflects the limited synergies that
the steel structures business has with our core business,"
Spiesshofer said in a statement.
(Reporting by Caroline Copley)