ABB Wraps Up Sale of Cable Business to NKT

ABB has completed the divestment of its high-voltage cables and cable accessories businesses to NKT Cables.

The divestment was announced in September 2016. As part of the strategic partnership, ABB and NKT Cables will work together on future project opportunities and R&D.

We are pleased to close the divestment with NKT Cables, an experienced specialist in this market, with a long and successful history in the high voltage cable industry. This transaction is combining two highly complementary cable portfolios and is expected to lead to higher competitiveness and even better service for our global customers,” says Claudio Facchin, president of ABB’s Power Grids division. “We look forward to building on our new business relationship in the long-term strategic partnership between ABB and NKT Cables.”

ABB’s cable system and the cable accessories business offers turnkey solutions including design, engineering, supply, installation, commissioning and service. It employs around 1,000 people, and has manufacturing and R&D capabilities for high-voltage submarine and underground cables in Karlskrona, Sweden. The cable accessories business is located in Alingsås, Sweden.

The transfer of assets also includes a new cable-laying vessel, currently under construction.

Share this article

Follow Subsea World News

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

9th Annual Submarine Power Cable and Interconnection Forum

This year’s Advance Submarine Power Cable and Interconnection conference will focus on the cutting edge thinking that is emerging across…

read more >

The 24th Annual PNEC Conference & Exhibition

The 24th annual PNEC Conference and Exhibition  will bring together the industry thought leaders and technology providers that enable the management…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >