ABB Ltd. (ABB - Free Report) has completed its acquisition of Envitech Energy, a Canadian provider of electrical equipment and solutions for rail infrastructure. The acquisition enhances ABB’s offering for technical development of rail infrastructure.
Headquartered in Pointe Claire, Quebec, Canada, Envitech Energy employs 36 people. The solutions from Envitech Energy is used for urban transportation applications, including traction rectifiers, traction power components, trackside braking energy absorption devices, automatic grounding and energy storage solutions.
Envitech Energy provides expert and superior rail energy efficiency solutions in power electronics and energy storage. The inclusion of Envitech Energy in its portfolio will expand ABB’s technology platform and solutions in rail market, both domestic and international, hence developing ABB’s North American power electronics and rail businesses. Envitech Energy will be integrated into ABB’s Discrete Automation and Motion Division.
Further, rail market provides good development offering in the attractive global and regional rail market. ABB is a major supplier to a number of train manufacturers and local network operators leading the company to bag more than $1 billion in orders in 2010.
Based in Zurich, Switzerland, ABB Ltd. is a global provider of power and automation technologies that enable utility and industry customers to improve performance, while lowering environmental impact.
The company serves electric, gas, and water utilities, as well as industrial and commercial customers, with a broad range of products, systems, and services for power transmission, distribution, and power plant automation. The company operates in approximately 100 countries, structuring its global organization into five regions: Europe, theAmericas, Asia, the Middle East and Africa. A major competitor of ABB Ltd. is Siemens AG .
Currently, we are maintaining a Zacks #3 Rank (short-term Hold recommendation) on ABB Ltd.