ABB announces the acquisition of Aurora Motors
Canada NewsWire
FORT SMITH, Ark., Nov. 5, 2024
-- Aurora Motors is a global provider of Vertical Pump Motors
-- Their products are distributed in 30 countries spanning the agriculture,
municipality, industrial and fire protection industries
-- The acquisition represents a significant enhancement to NEMA's product
portfolio, bolstering the most comprehensive range of industrial electric
motors in the global market
FORT SMITH, Ark., Nov. 5, 2024 /CNW/ -- ABB announced today it has signed an agreement to purchase Aurora Motors. This acquisition provides a well-regarded product portfolio, a longstanding customer base in 30 countries and an experienced customer-centered sales structure, as well as solid partnerships with strategic suppliers. Aurora Motors is a $4 million U.S. Vertical Pump Motors provider, with engineering and operations in Shanghai, China and a corporate office and distribution center in Hayward, California. Financial terms were not disclosed, and the transaction is expected to be closed before the end of the 2024 financial year.
This transaction is part of the Motion Business area's profitable growth strategy, and it will allow the NEMA Motors Division to enhance its product offering, expand its supply chain and improve support to its global customer base.
"This bolt-on acquisition is a strategic move that not only expands our global footprint but also fills key market white spots. This acquisition aligns with our vision to enhance innovation and deliver unparalleled value to our customers worldwide," said Jesse Henson, President of ABB's NEMA Division. "By integrating Aurora Motors expertise, we are poised to accelerate growth and redefine industry standards, ensuring long-term success for our stakeholders."
"Combining Aurora's extensive experience and expertise in the vertical pump motor sector with ABB's top-tier operations and commitment to excellence in the industry is genuinely thrilling!" said Conroy Shum, President of Aurora Motors.
The global NEMA motor industry, roughly $3.4 billion in size*, comprises industrial electric motors primarily used within North America. NEMA motors are essential components used to run equipment in industries such as food and beverage, oil and gas, mining & aggregate, and water and wastewater and in applications like those which move air, liquids, and units.
*low voltage motors report 2023
ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this 'Engineered to Outrun'. The company has over 140 years of history and more than 105,000 employees worldwide. ABB's shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm $(ABB)$. www.abb.com
ABB Motion, a global leader in motors and drives, is at the core of accelerating a more productive and sustainable future. We innovate and push the boundaries of technology to contribute to energy efficient, decarbonizing and circular solutions for customers, industries and societies. With our digitally enabled drives, motors and services we support our customers and partners to achieve better performance, safety and reliability. To help the world's industries outrun -- leaner and cleaner, we deliver motor-driven solutions for a wide range of applications in all industrial segments. Building on over 140 years of domain expertise in electric powertrains, our more than 22,000 employees across 100 countries learn and improve every day. go.abb/motion.
For more information please contact:
Media Relations
Phone: +1 919-561-8639 ABB Motors and Mechanical
Email: chris.shigas@us.abb.com 5711 R. S. Boreham Jr. St., Fort Smith
AR 72902 USA
Phone: +1 617-356-6612
Email: nani.duraes@us.abb.com
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(END) Dow Jones Newswires
November 05, 2024 10:00 ET (15:00 GMT)
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