ABB Buys ELBI Elektrik to Strengthen Wiring Accessory Unit

ABB, a leading power and automation technology group, has acquired Turkey-based ELBI Elektrik from Ahlström Capital to improve its position in the Turkish low-voltage products segment and to expand its existing business in Eastern Europe. The parties have agreed not to disclose financial details of the transaction.

ELBI Elektrik is headquartered in Istanbul and has about 450 employees. It designs and manufactures electrical wiring accessory products for the Turkish market, and exports to Eastern Europe with its own  local sales organization.

By complementing its existing wiring accessories portfolio with ELBI Elektrik's products, ABB will be able to serve markets outside of Europe, which it has been unable to access with its current range of products. The acquisition follows ABB's recent purchase of French software company Newron System S.A., which is aimed at expanding its market reach and offering for channel partners in automation solutions for buildings. Like Newron, ELBI Elektrik will be integrated into the Wiring Accessories business of ABB's Low Voltage Products division.

source wireworld