ABB has received its board’s approval for the proposal to acquire 100 per cent shares of Baldor Electric India from Baldor Holdings Inc., USA and Baldor Electric Switzerland. The deal would be worth about Rs 35.7 crore. The proposal was approved by the board of directors during their meeting held on August 8, 2011.
ABB Group had acquired Baldor Electric Company, USA, in January this year. Baldor Group is now integral part of ABB Group. Baldor provides sales and service assistance to its customers including support for the products viz., electric motors, power transmission products, drives, generators and other accessory products.
ABB Group is a leading power and automation technology solutions provider.
