Two major acquisitions of note in the automation space have been completed. ABB Ltd. (www.abb.com) announced on Jan. 27 that is has completed its $4.2 billion acquisition of Baldor Electric Co., while General Electric Co. (GE, www.ge.com) announced on Feb. 1 that its $3 billion acquisition of Dresser Inc. has been wrapped up.
ABB, the Zurich, Switzerland-based power and automation technology supplier, said that the acquisition of industrial motor manufacturer Baldor advances ABB’s strategy to become a leader in the North American industrial motors business and a global leader for movement and control in industrial applications. ABB said that its North American motor and generator business will be headquartered in Fort Smith, Ark., Baldor’s current headquarters. The addition of Baldor’s around 6,800 North American employees brings the number of ABB employees in North America to approximately 17,000.
GE, a diversified technology, media and financial services company based in Fairfield, Conn., said that the Dresser acquisition significantly expands GE’s offerings for energy and industrial customers worldwide and is the latest in a series of acquisitions over the last 10 years that have transformed GE’s global energy portfolio. Dresser, based in Addison, Texas, has 6,300 employees worldwide and delivers compression, flow technology, measurement and distribution infrastructure and services to customers in more than 150 countries. The Dresser businesses will be integrated into GE’s Energy Services and Power & Water business units.
ABB Ltd.
www.abb.com
General Electric Co.
www.ge.com
