ABB Getting Out Of Solar Inverters

| July 10, 2019

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ABB acquired its solar inverter business from Power-One back in 2013, so it hasn’t had the line in its stable for very long. But it’s a cutthroat business with shrinking margins and ABB has a target margin corridor of 15-19 percent. ABB says the transaction will enable the company to focus its business portfolio on other growth markets. “The divestment is in line with our strategy of ongoing systematic portfolio management to strengthen competitiveness, focus on quality of revenue and higher growth segments,” said Tarak Mehta, President of ABB’s Electrification business. ” 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.” ABB states it isn’t totally turning its back on solar power – the firm will continue to integrate solar into its smart buildings, energy storage and electric vehicle charging solutions. If you haven’t heard of FIMER before, you wouldn’t be alone. If its intention has been to fly under the radar, then the firm has been pretty successful. Headquartered in Vimercate, Italy, the company was founded in 1942 and started tinkering with inverter technology in 1983.

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