11 Jan 2018
TE Connectivity in exclusive negotiations to acquire ABB’s entrelec® terminal block business
- TE to offer a more complete robust product platform
- Helps customers to reduce complexity and drive innovation
- Expanded team will provide broader coverage
DARMSTADT, Germany – January 11, 2018 – TE Connectivity (TE), a world leader in connectivity and sensors, today announced that it has entered into exclusive negotiations with ABB to acquire ABB’s entrelec® terminal block business. The transaction is subject to the satisfaction of certain conditions including receipt of customary regulatory approvals and prior consultation with employee representative bodies.
ABB’s entrelec® terminal block business was founded as entrelec in 1920 and serves customers in more than 70 countries. The business comprises research and development, product development, marketing and sales and management activities in Chassieu, France; and with main manufacturing sites in France and Poland.
“The combination of the two portfolios will be more competitive on a larger scale under TE‘s ownership, providing greater opportunities for customers and employees,” said Tarak Mehta, President of ABB's Electrification Products Division. “TE will be a good owner of this business. Combining our terminal block business with the strength of TE demonstrates ABB’s commitment to active portfolio management, a key element of our Next Level strategy.”
By adding the ABB’s entrelec® terminal block offering, under the product brand entrelec, TE would be able to offer a complete system for power, signal and data connectivity with special focus on harsh environments. This system would be a crucial part of TE’s future product portfolio – and would contribute to TE’s ability to offer customers some of the most comprehensive products, technologies and services within the industry.
Lars Brickenkamp, Senior Vice President and General Manager of TE’s Industrial business unit comments: “This intended acquisition is a very effective strategic fit for TE and will offer new growth opportunities. It represents an important step in TE’s ability to offer its customers a broader and more complete product platform to help them to reduce complexity and drive innovation. Moreover, the expansion of our Industrial team with employees from ABB will significantly enhance TE’s collaboration with more customers on their innovation and automation projects. Closeness to customers will be a key driver for customer satisfaction in our new organization and once final, we will work with ABB to ensure a smooth transition of the business.”
TE, TE Connectivity and the TE connectivity logo are trademarks of the TE Connectivity Ltd. family of companies. Other logos, product or company names mentioned herein may be trademarks of their respective owners.
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ABOUT TE CONNECTIVITY
TE Connectivity Ltd. is a $13 billion global technology and manufacturing leader creating a safer, sustainable, productive, and connected future. For more than 75 years, our connectivity and sensor solutions, proven in the harshest environments, have enabled advancements in transportation, industrial applications, medical technology, energy, data communications, and the home. With 78,000 employees, including more than 7,000 engineers, working alongside customers in nearly 150 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat and Twitter.
ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing a history of innovation spanning more than 130 years, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. As title and technology partner of Formula E, the fully electric international FIA motorsport class, ABB is pushing the boundaries of e-mobility to contribute to a sustainable future. ABB operates in more than 100 countries with about 136,000 employees. www.abb.com.