ABB has announced the completion of its acquisition of the Siemens low voltage NEMA motor business, which was initially disclosed on August 11, 2022. The financial details of the transaction remain undisclosed. The business has a workforce of approximately 600 individuals and generated roughly $63 million in revenue in 2021.
This acquisition is a vital component of ABB’s Motion business area’s lucrative growth strategy. It enhances ABB’s status as a prominent industrial NEMA motor manufacturer, and it offers a more robust platform for ABB to cater to its global customers.
The line of horizontal and vertical induction severe duty and general purpose motors will be rebranded as ABB and reintroduced to the market during the second quarter of 2023.
The NEMA motor industry is valued at approximately $2.7 billion globally and consists of industrial electric motors that are primarily used in North America. These motors are crucial components used to operate equipment in a variety of industries, including food and beverage, oil and gas, mining & aggregate, and water & wastewater, as well as applications that involve the movement of air, liquids, and other units.