ZURICH, July 6 (Reuters) - ABB will acquire Turkey’s AB Rotech, a privately-owned company specialising in robotic welding solutions and services for the automotive industry, the Swiss engineering company said on Friday.
“This acquisition strengthens our position as partner of choice for automotive OEMs and Tier 1 suppliers in Turkey and beyond,” ABB Robotics Managing Director Per Vegard Nerseth said in a statement.
“It further strengthens our leading robotic solutions and customer intimacy, which is a clear competitive differentiator of ABB.”
The parties agreed not to disclose the value of the acquisition, ABB said. The deal is expected to close later this year subject to regulatory approval. (Reporting by Brenna Hughes Neghaiwi Editing by Maria Sheahan)
Our Standards: The Thomson Reuters Trust Principles.