ABB Ltd has completed the acquisition of Baldor Electric Company, a North American leader in industrial motors.
ABB Australia is the Australian operation of the ABB Group, the leading power and automation technology company.
The Baldor acquisition is part of ABB’s strategy to become a leader in the North American industrial motors business as well as a global leader for movement and control in industrial applications.
The combination provides an even stronger growth platform from which ABB can increase its penetration of North American markets by building on Baldor’s strong presence while at the same time facilitating the sale of Baldor’s products globally through ABB’s worldwide distribution network.
The addition of Baldor’s 6,800+ North American employees brings the number of ABB’s employees in North America to approximately 17,000.
Baldor’s leadership in high-efficiency industrial electric motors positions ABB to benefit from a projected 10-15 percent growth in this business in the US in 2011 as a result of new energy regulations that were implemented in December 2010.
Ron Tucker, Baldor’s President and CEO will be responsible for running Baldor including its mechanical power transmission products business as well as ABB’s North American motor and generator business.
These businesses will be headquartered in Fort Smith, Arkansas, USA and Baldor’s former Chairman and CEO, John McFarland will remain with the Company to support a successful integration.
Joe Hogan, ABB’s CEO says that the acquisition is a significant step forward in ABB’s strategy to become the global leader in the industrial motion market.
Ulrich Spiesshofer, ABB Executive Committee member responsible for the Discrete Automation and Motion division of which Baldor is now a part sees the acquisition as an excellent opportunity to serve their customers even better by delivering exceptional products and services in North America while opening new growth opportunities around the world.