ABB recently announced it has signed an agreement to purchase Siemens’ low voltage NEMA motor business. With manufacturing operations in Guadalajara, Mexico, this acquisition provides a well-regarded product portfolio, a longstanding North American customer base, and an experienced operations, sales, and management team. The business employs around 600 people and generated revenues of approximately $63 million in 2021. Financial terms of the transaction were not disclosed. The transaction is expected to close in the second quarter of 2023.
The Power Transmission Distributors Association (PTDA), the leading association for the industrial power transmission/motion control (PT/MC) distribution channel, welcomes a new member company, MEM Industrial.