ABB Group acquires Austrian machine automation firm

GNA Axles | Promoter Jasvinder Singh created pledge on company's 3 lakh shares.

ABB Group today announced the acquisition of Austria-based B&R, a solution provider in the automation of machines, for an undisclosed amount.

Through the acquisition, ABB expands its leadership in industrial automation and will be uniquely positioned to seize growth opportunities resulting from the fourth industrial revolution, ABB said in a statement.

Both companies have complementary portfolios. ABB is a leading provider of solutions serving customers in utilities, industry and transport and infrastructure and B&R is a leading solution provider in the automation of machines and factories for industries such as plastics, packaging, food and beverage, it said.

ABB has steadily expanded its manufacturing, engineering and R&D footprint in the Indian subcontinent. It employs over 10,000 people across more than 40 locations in Bangladesh, India and Sri Lanka.

The Group has 12 manufacturing sites on the subcontinent and one of its seven corporate research centres around the world is based in India.