TE Connectivity and ABB have announced that the previously announced acquisition of ABB’s ENTRELEC terminal block business has been completed.
"We are combining two portfolios that will be more competitive under TE’s ownership," said Tarak Mehta, president of ABB's electrification products division. "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.
"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,” said Lars Brickenkamp, senior vice president and general manager of TE’s Industrial business unit. "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 organization."