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BREAKING NEWS

ABB launches strategic review of its integrated DC power business

ABB launches strategic review of its integrated DC power business
FILE PHOTO: The logo of Swiss power technology and automation group ABB is seen during the company's annual news conference in Zurich, Switzerland February 28, 2019. REUTERS/Arnd Wiegmann -
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ARND WIEGMANN(Reuters)
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ZURICH (Reuters) – ABB <ABBN.S> has launched a strategic review of its Integrated Direct Current Power business, the latest stage of the Swiss engineering company’s overhaul of its operations that has seen it ditch its solar inverter business.

The DC power business, which makes power converters for the telecoms industry, was acquired when ABB bought General Electric Industrial Solutions’ business in 2017.

“This, however, is not an indication that this process will definitely end in a transaction, nor a reflection on the timing and terms of any deal,” ABB said in a statement on Wednesday.

ABB is due to report its second quarter earnings on Thursday.

(Reporting by John Revill; Editing by Susan Fenton)

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