ABB is selling its railway electrification project business (overhead contact line) to Balfour Beatty Plc for $38 million as part of its strategy to focus on its core areas of power and automation technologies.
The business unit is expected to report revenues of some US$ 90 million in 2001.
Under the terms of the contract, Balfour Beatty will purchase ABB’s capability for design, engineering, assembly, installation, service and sale of complete overhead contact lines.
The business has operations in Italy and the United Kingdom and sales offices in the Netherlands and Norway and employs 350 people.
ABB will continue to do business with Balfour Beatty as a supplier of products, services and packages.
The sale is subject to customary regulatory review.