CANADA: ABB has agreed to acquire power electronics and energy storage firm Envitech Energy for an undisclosed price. The agreement was announced on November 23 and the transaction is expected to be completed by the end of the year.
Based at Pointe Claire in Québec, Envitech has 36 employees and supplies electrical equipment including traction rectifiers, traction power components, trackside braking energy absorption devices, and automatic grounding and energy storage systems.
'The acquisition is in line with our divisional strategy to expand our technology platform and solutions offering in the attractive global and regional rail market', said Ulrich Spiesshofer, head of ABB's Discrete Automation & Motion division. 'The Envitech Energy team will bring to ABB a wealth of engineering expertise and a strong entrepreneurial spirit to our North American power electronics and rail businesses.'