ABB, Zurich, Switzerland, and Baldor Electric Co., Fort Smith, Ark., have agreed that ABB will acquire Baldor in an all-cash transaction valued at approximately $4.2 billion, including $1.1 billion of net debt. “We are deeply impressed by the skill and passion of the Baldor team and their excellent customer relationships,” says Ulrich Spiesshofer, executive committee member responsible for ABB’s Discrete Automation and Motion division, into which Baldor’s business will be integrated alongside the existing Motors and Generators business. “The strength of Baldor’s people and executive team, which will continue under the new ownership, will play a key role in our mutual success.”
Allied Wire & Cable
Collegevill, Pa.-based Allied Wire & Cable officially opened the doors to its new 16,000-sq.-ft. Las Vegas stocking facility on December 1. The facility stocks some of Allied’s core wire and cable items, used in a wide range of industries and applications.
Colton, Calif.-based Brithinee Electric's new, cutting-edge 20,000 sq.-ft. repair building expansion builds on more than four decades of commitment to quality motor and generator repair. On November 18, a ribbon cutting ceremony signified the completion and opening of the addition to the Colton, Calif.-based plant.