NEWS IN ENGLISH | ABB completes the sale of Power-One’s Power Solutions business to Bel Fuse
ABB completes the sale of Power-One’s Power Solutions business to Bel Fuse
2014-06-30 11:03:00



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ABB, the leading power and automation group, announced today it has completed the sale of Power-One's Power Solutions business to Bel Fuse Inc. (NASDAQ:BELFA and NASDAQ:BELFB), headquartered in Jersey City. The transaction, announced on April 28, closed on June 19, 2014.

ABB has divested Power Solutions because of a limited fit and few synergies with ABB's other businesses. The unit was part of ABB's acquisition of Power-One, Inc. Power-One's solar inverter business is core to ABB's renewable strategy and will remain in the portfolio of the group.

Bel and its divisions are primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation, and consumer electronics. The Company operates facilities around the world.

Source: ABB