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ABB Ltd Acquires Ring Motor Business from Alstom


Tuesday, 30 Jul 2013 09:09am EDT 

ABB Ltd announced the acquisition of Alstom’s ring motor business to enhance its gearless mill drive (GMD) system business. The parties agreed not to disclose financial details of the transaction. The business, based in Bilbao, Spain, has about 120 employees and will become part of ABB’s Process Automation division. 

Company Quote

21.53
0.11 +0.51%
17 Sep 2014