ZURICH - ABB has agreed to buy the wiring accessories business of German rival Siemens in China, the Swiss engineering group said on Friday.
Under the deal, which is expected to close in the next 12 months, ABB is acquiring a business which makes wiring accessories, smart home systems, smart door locks and other home automation products.The acquisition will give access to a distribution network across 230 cities in China and provide additional expertise from regional sales, manufacturing operations and management teams, ABB said.
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