ABB sells Dodge transmission business to RBC Bearings for US$2.9 billion

ABB will sell its Dodge power transmission unit to RBC Bearings Inc in a US$2.9 billion deal, the Swiss engineering and technology company said on Monday.

FILE PHOTO: The logo of Swiss power technology and automation group ABB is seen at the Swiss Economic Forum conference in Interlaken, Switzerland May 24, 2019. REUTERS/Arnd Wiegmann/File PhotoZURICH: ABB will sell its Dodge power transmission unit to RBC Bearings Inc in a US$2.9 billion deal, the Swiss engineering and technology company said on Monday.

The deal is the first major divestment under Chief Executive Bjorn Rosengren. Deals to sell the Power Grids business and the solar inverter business were completed last year, but agreed before the former Sandvik boss took charge in March 2020.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Telecom firm Lumen to sell Latin America business for US$2.7 billionREUTERS -Telecom company Lumen Technologies said on Monday it would sell its Latin American business to private equity firm Stonepeak for US$2.7 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

RPT-EMERGING MARKETS-Philippine stocks hit 2-month low on China sell-off, virus woesREUTERS
Source: TODAYonline - 🏆 1. / 99 Read more »