ABB sells Power Solutions business to Bel Fuse
ABB, the power and automation group, completed the sale of Power-One’s Power Solutions business to Bel Fuse Inc. headquartered in Jersey City. Bel and its divisions are primarily engaged in the design, manufacture and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation and consumer electronics. The transaction, announced in April, closed on 19 June.
ABB divested Power Solutions because of a limited fit and few synergies with ABB’s other businesses. The unit was part of ABB’s acquisition of Power-One. Power-One’s solar inverter business is core to ABB’s renewable strategy and will remain in the portfolio of the group.