The transaction is subject to the satisfaction of certain conditions including receipt of customary regulatory approvals and prior consultation with employee representative bodies, says TE.
By adding the ABB’s entrelec terminal block offering, under the product brand entrelec, TE says it would be able to offer a complete system for power, signal and data connectivity with a special focus on harsh environments. This system would be a crucial part of TE’s future product portfolio, the company adds.
“The combination of the two portfolios will be more competitive on a larger scale under TE’s owernship, providing greater opportunities for customers and employees,” said Tarak Mehta, president, Abb’s Electrification Products Division. “TE will be a good owner of this business. Combining our terminal block business with the strength of TE demonstrates ABB’s commitment to active portfolio management, a key element of our Next Level strategy.”