ABB expands into China's wiring accessories market

ABB has completed its acquisition of Siemens’ Wiring Accessories business in China, with the aim of broadening ABB’s market reach and complementing its regional customer offering within smart buildings.

The transaction was announced on 17 May 2024, with financial terms not disclosed. 

The acquisition of the business allows ABB to gain a comprehensive product portfolio, a robust distribution network across 230 cities, and 350 skilled employees. Last year, the business generated over $150 million in revenue.

The business, which is expected to be margin accretive to ABB, expands ABB’s portfolio with wiring accessories, smart home systems, smart door locks and further peripheral home automation products. These products will continue with the Siemens brand under terms of a licensing agreement.

With this strengthened product range and distribution network, ABB said it is well-positioned to deliver integrated, innovative solutions that modernise buildings, improve energy efficiency and tackle the global challenge of reducing carbon emissions.

“This acquisition strengthens ABB’s position and commitment to growth in China’s wiring accessories market, complementing our smart buildings technologies portfolio and enabling us to meet evolving customer needs by creating safer, smarter and more sustainable buildings,” said Mike Mustapha, President of ABB Electrification’s Smart Building Division.

“We are perfectly positioned to offer a full range of wiring accessories, home and building automation, [and] energy distribution and management solutions, to address major local challenges such as rapid urbanisation, energy transition, electrification of buildings, decarbonisation, and advancing AI and digitalisation.”

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