ABB to Buy UK's Dynamotive Ltd.

Press Release
Monday, June 10, 2013

ABB to acquire the Coalville, UK-based manufacturer of  drives, controls and motors for industrial and marine applications & automotive test rigs.

Dynamotive has about 40 employees and is privately owned. ABB says its owners will continue to work for them.

“The acquisition of Dynamotive will enable ABB to expand its service operations including upgrade and retrofit capabilities in low and medium voltage drives. Furthermore, it will help ABB to increase its sales of complete industrial motion packages, which include drives, motors, controls and related services,” said Pekka Tiitinen, head of ABB's Drives and Controls business unit. “By combining Dynamotive’s service and engineering capabilities with ABB’s manufacturing capabilities and product know-how we will better serve our customers."

Dynamotive will be integrated into ABB’s Drives and Controls business unit, led in the UK by Neil Ritchie. ABB is one of the world’s largest manufacturers of electric motors and drives. Drives adjust the speed of electric motors to match the actual demand of the application thereby improving productivity and energy efficiency.

“We are excited about the opportunity to join forces with ABB. We are confident that our customers and employees will benefit from the increased level and quality of services that we can offer them,’’ said David Perkins, Dynamotive’s managing director, who will continue to lead Dynamotive’s operations under the ownership of ABB. “Through this deal we will get better access to ABB’s drive, motor and control technology, as well as access to ABB’s global sales and service network.”

The transaction is expected to be completed during June 2013.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Marine Equipment

Mercury Marine Expands Manufacturing Capacity

Mercury Marine is adding a 53,000 square foot manufacturing capacity expansion to its global headquarters in Fond du Lac, Wisc. The expansion will consist of 45,

Conquest Installs 850t Crane on Allseas Solitaire

Conquest Offshore was contracted by Allseas to remove a 300-ton crane and transport and install a 850-ton Huisman crane on board of one of the largest pipe-lay vessels in the world, Allseas Solitaire.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Mergers & Acquisitions

EU Clears CMA CGM, NOL Merger, with Conditions

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.

Fitch: M&A, Not Alliances to Help Revive Container Shipping

The following statement was released by the rating agency: Mergers and acquisitions, rather than the historically more popular alliances, are inevitable to address

ST Engineering Injects $66m into VT Systems

Singapore Technologies Engineering Ltd (ST Engineering) today announced that it has injected US$66m (approximately S$89m) into the capital of its US Headquarters, Vision Technologies Systems, Inc.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0960 sec (10 req/sec)