ABB sells subsidiary to Siemens AG

ABB agreed May 18 to sell Elsag Bailey's gas chromatograph and mass spectrometer business to Siemens AG for an undisclosed sum. The division, part of Elsag Bailey's Applied Automation Inc., employs about 320 people and generated revenues of $50 million in 1998.

06/01/1999


ABB agreed May 18 to sell Elsag Bailey's gas chromatograph and mass spectrometer business to Siemens AG for an undisclosed sum. The division, part of Elsag Bailey's Applied Automation Inc., employs about 320 people and generated revenues of $50 million in 1998. Located primarily in Bartlesville, Okla., it also has offices in the U.K., Germany, Singapore, and 10 other countries. The acquisition will become a subsidiary of Siemens Energy & Automation (Alpharetta, Ga.) and is expected to strengthen the process automation and instrument division of Siemens Automation & Drives Group (N├╝rnberg, Germany). ABB's divestiture was a condition of the U.S. Federal Trade Commission and the European Commission's approval of ABB's recently completed acquisition of Elsag Bailey Process Automation N.V.





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