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ABB Ltd Acquires ELBY Elektrik in Turkey

Friday, 6 Sep 2013 05:00am EDT 

ABB Ltd announced that the Company has acquired Turkey-based ELBY Elektrik from Ahlstrom Capital to improve its position in the Turkish low-voltage products segment and to expand its existing business in Eastern Europe. The parties have agreed not to disclose financial details of the transaction. ELBI Elektrik is headquartered in Istanbul and has about 450 employees. It designs and manufactures electrical wiring accessory products for the Turkish market, and exports to Eastern Europe with its own local sales organization. 

Company Quote

0.16 +0.75%
12:15pm EDT