NKT will buy ABB HV Cables from Switzerland-based ABB, which has been reviewing its Power Grids operation, under an agreement that values the business to be acquired at €836m ($934m).
The ABB operation had revenues of €472m last year and includes “best-in class” manufacturing facilities in Karlskrona, Sweden, said NKT.
“The new combined business will be strongly positioned in both the growing offshore wind industry as well as for the development of the interconnector grid in Europe.
