ABB invests in low-voltage business in Germany
OREANDA-NEWS. ABB will combine the STRIEBEL & JOHN product range with its own range in the field of low-voltage products to offer complete systems from a single source in Germany. Further integrating the supply chain to electrical wholesale and direct industrial customers will improve efficiency. The parties agreed not to disclose financial details of the transaction. The STRIEBEL & JOHN brand will continue.
ABB Germany acquired 51 percent of the shares in STRIEBEL & JOHN in 1993. Since 1996, the company has been selling its products through the ABB STOTZ-KONTAKT / STRIEBEL & JOHN sales company.
"Thanks to the long experience and expertise of our employees, we produce distribution systems for the future. I am pleased that the STRIEBEL & JOHN brand and the operations at Sasbach will be maintained, "said Gabriele Striebel, daughter of company founder Franz Striebel, who is to chair a new advisory board for the combined ABB-STRIEBEL & JOHN business.
About ABB
ABB is a leader in power and automation technologies that enable utility, industry, and transport and infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in roughly 100 countries and employs about 140,000 people.
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