ABB To Acquire Baldor Motor Company
December 1, 2010
Spending $3.1 billion to guarantee immediate access to the market for high-end industrial motors in the United States, ABB, a Swiss automation company, has announced the acquisition of Arkansas-based Baldor Motor Company.
As the industrial marketplace prepares for the rapidly approaching implementation of the Energy Independence and Security Act of 2007, which will require improved energy efficiency for industrial motors in the U.S., ABB also expects to capitalize on increased worldwide demand for Baldor’s technology in growing markets such as China and India.
According to company sources, “This move comes at a time when regulatory changes in the U.S. and other parts of the world will accelerate demand for energy efficient industrial motion products.”