ABB sells buildings business

ABB has agreed to sell the remainder of its building systems business to the systems business WISAG Group based in Frankfurt, Germany.



The business operates in Germany under the name ABB Gebäudetechnik as a general contractor for technical building services. It also supplies electrical, heating and air-conditioning systems, as well as building and facility management services. In 2006, the company had more than 1,100 employees and revenues of $305m.



‘The building systems business has been part of ABB’s non-core activities since 2002,’ said Michel Demaré, ABB’s chief financial officer. ‘This divestment and the sale of our other building system businesses in 2003 and 2004 follows the strategy of focusing on our core competence, which is power and automation technologies.’



ABB and WISAG have agreed not to disclose the terms of the transaction, which is subject to the customary approvals.