ZURICH--(BUSINESS WIRE/AETOSWire)-- ABB has completed its divestment of its solar inverter business to the Italian company FIMER SpA. The transaction enables ABB’s Electrification business to improve the focus of its business portfolio on priority growth markets and enhance business opportunities for the solar inverter business under FIMER.
Tarak Mehta, President of ABB's Electrification business, said: “The completion of this divestment is another step forward in our strategy of systematic portfolio management. It strengthens our competitiveness and allows us to focus on other growth segments. ABB will continue to integrate solar power into a range of solutions for smart buildings, energy storage and electric vehicle charging throughout intelligent low- and medium-voltage offering.”
ABB’s solar inverter business employs around 800 people in more than 30 countries, with manufacturing and R&D sites located in Italy, India and Finland. It includes the solar inverter business from Power-One acquired by ABB’s Discrete Automation and Motion division in 2013. The business offers a comprehensive portfolio of products, systems, and services for different types of solar installations.
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