There is a Big News in Solar Business.
Italian Company FIMER
has taken over ABB's Solar Inverter
business worldwide.
Earlier in 2013 ABB had acquired Solar Inverter business from
Power One. Recent report says ABB was the top supplier for Solar Inverter in
2018 in India. Even in 2017 also ABB emerged as a market leader in solar
business.
But Now ABB wants to focus in its core business Automation & Control & FIMER
also great leader in solar segment so this transaction will enhance the market
share of FIMER.
According to statements, ABB
& FIMER both the companies will ensure smooth transition of customer
& employees and FIMER will honor all the existing warranties and ABB will
compensate to FIMER for taking over its business & liabilities. The
completion of these acquisition processes is expected in first quarter of
2020.
President of ABB’s Electrification
business commented on this development saying, “The divestment is in line with
our strategy of ongoing systematic portfolio management to strengthen
competitiveness, focus on the quality of revenue and higher growth segments.
Solar is a well-established and key focus for FIMER and as such we believe them to be a very good owner for ABB’s
solar inverter business. The
combination of the portfolios under FIMER
will support further sales growth. Through our intelligent low- and
medium-voltage offering, ABB will
continue to integrate solar power
into a range of smart solutions including smart buildings, energy storage, and
electric vehicle charging.”
Filippo Carzaniga, Chief Executive
Officer of FIMER, said, “We are glad
to announce this further step in our development as FIMER’s focus on the solar
business will be greatly enhanced by this integration. Our commitment to
positively influence the energy market will be realized through the development
of new product platforms and innovative digital technologies. We will continue
the excellent job carried out by ABB
in recent years, combining precious resources, knowledge, and expertise in
Italy and worldwide. With a
strengthened portfolio, we are better placed to shape the future of this
increasingly strategic business.”