ABB buys HSB Reliability Technologies, Systems groups
Norwalk, CT—ABB reports it has acquired HSB Reliability Technologies and HSB Reliability Systems groups for an undisclosed sum.
Norwalk, CT— ABB reports it has acquired HSB Reliability Technologies and HSB Reliability Systems groups for an undisclosed sum. The acquired businesses have more than 70 years of reliability and maintenance consulting and implementation experience with process and discrete manufacturing companies. These two groups were part of the Hartford Steam Boiler Inspection and Insurance Co., which was one of the world's leading equipment breakdown insurers. The two groups will be immediately integrated into ABB's service organization.
'We look at this acquisition as a strong, strategic investment in the future of ABB, our new employees, and our industrial customers,' says Michael Drew, ABB’s global engineering and consulting services VP. 'With the global reach of ABB's services organization, combined with the experience and innovative reliability solutions, the opportunities to significantly improve our customers' operational and financial performance will be greater than ever.
“We’re pleased to add these industry leaders, which provide plant and equipment productivity improvement solutions by implementing reliability and maintenance strategies, process optimization, scorecard development, operational change management, and asset management information technologies. Our consulting and outsourcing based solutions provide greater asset availability and higher production rates, while improving safety compliance and decreasing maintenance costs.”
Dinesh Paliwal, head of ABB North America, adds that, 'They’re a perfect fit for ABB's service strategy. This expands ABB's capabilities to improve our customers' asset effectiveness and productivity through consulting, asset class outsourcing, and full service maintenance.'
ABB reports that it produces power and automation technologies that enable utilities and industry customers to improve performance, while lowering environmental impact.
Control Engineering Daily News Desk
Jim Montague, news editor