ABB to acquire GE Industrial Solutions

ABB收购GE工业解决方案业务

Shaping leadership in electrification

加强在电气领域的领导地位

•Acquisition will strengthen ABB’s #2 global position in electrification

•Non-core GE business with significant value creation potential within ABB

•Expands ABB’s access to the North American market through deep customer relationships, large installed base and extensive distribution networks

•Long-term usage of GE brand agreed

•Purchase price of $2.6 billion

•Potential for annual cost synergies of approximately $200 million

•ABB and GE establish long-term, strategic supply relationship for ABB products

•Operational EPS accretive in year one

•Closing expected in H1 2018

•收购将加强ABB在电气领域全球第二的市场地位

•GE的非核心业务对ABB却具有重大价值潜力

•通过深厚的客户关系、极大的安装基数以及广泛的分销网络，扩大ABB北美市场布局

•允许长期使用GE品牌

•收购价26亿美元

•年度成本协同效应约2亿美元

•ABB和GE建立ABB产品的长期战略供应关系

•第一年实现运营每股盈利增值

•收购在2018年第一季度完成

ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. GE Industrial Solutions is headquartered in Atlanta, Georgia, and has about 13,500 employees around the world. In 2016, GE Industrial Solutions had revenues of approximately $2.7 billion, with an operational EBITDA margin of approximately 8 percent and an operational EBITA margin of approximately 6 percent. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year one. ABB expects to realize approximately $200 million of annual cost synergies in year five, which will be key in bringing GE Industrial Solutions to peer performance. As part of the transaction and overall value creation, ABB and GE have agreed to establish a long-term, strategic supply relationship for GE Industrial Solutions products and ABB products that GE sources today.