TE Connectivity completes acquisition
It has been announced by TE Connectivity (TE), a leader in connectivity and sensors, and ABB, a technology leader in electrification products, robotics and motion, industrial automation and power grids, that TE has closed its previously announced acquisition of ABB’s ENTRELEC terminal block business.
Tarak Mehta, President of ABB's Electrification Products Division, stated: “We are combining two portfolios that will be more competitive under TE’s ownership. This transaction demonstrates ABB’s commitment to active portfolio management, a key element of our next level strategy.”
ABB’s ENTRELEC terminal block business, originally founded in 1920, serves customers in more than 70 countries. The business comprises research and development, with manufacturing sites in France and Poland. By adding ABB’s ENTRELEC terminal block offering, under the product brand ENTRELEC, TE is able to offer a complete system for power, signal and data connectivity with special focus on harsh environments.
Lars Brickenkamp, Senior Vice President and General Manager of TE’s Industrial Business Unit, added: “This acquisition represents an important step in TE’s journey to offer customers a broader and more complete product platform to reduce complexity and drive innovation. We welcome the expansion of our team and believe our new employees will significantly enhance TE’s collaboration with more customers on their innovation and automation projects. Customer intimacy remains a key driver for customer satisfaction in our new organisation.”