11-Dec-2001 - ABB Automation GmbH

ABB divests air handling business for US$ 225 million

ABB said today it will sell its air handling equipment business to Global Air Movement (Luxembourg) SARL for US$ 225 million, as part of its strategy to focus on power and automation technology products, systems and solutions for utilities and industry. Global Air Movement (Luxembourg) SARL is a company formed on behalf of Compass Partners European Equity Fund L.P., management and other investors.

“This divestiture is in line with ABB’s strategy to focus on core areas of expertise in power and automation technology,â€

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