For 2.9 billion dollars
ABB sells Dodge clutches
ABB is selling its Mechanical Power Transmission division (Dodge) to RBC Bearings for 2.9 billion US dollars.
ABB is selling its Mechanical Power Transmission division to the US company RBC Bearings for 2.9 billion dollars in cash, equivalent to just under 2.5 billion euros. This was announced by the Group on Monday in Zurich. The transaction is expected to be completed by the end of the year. Financial experts expect a pre-tax book profit of around 2.2 billion dollars for the Swiss group.
Dodge has been developing and manufacturing mechanical drive components such as rolling bearings, enclosed gears and power transmission components for over 140 years. The acquisition by RBC Bearings creates a leading manufacturer of advanced, performance-critical bearings and motion control components.
Dodge employs around 1,500 people worldwide and generated sales of around USD 600 million in the last twelve months to June 30, 2021. More than 90% of this was generated in the Americas. The operating EBITA margin amounted to around 23%. The division, headed by Roger Costa, has six production sites - five in the USA and one in China - and is headquartered in Greenville, South Carolina.
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