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MONTREAL - ABB Electrification Canada Inc., part of the $103.6 billion market cap technology leader generating $32.9 billion in annual revenue, has officially acquired Bel Products Inc., a Canadian manufacturer known for its enclosures used in commercial, industrial, and other sectors. This move is aimed at augmenting ABB’s footprint in the North American enclosures market, which is witnessing substantial growth due to increased demand in areas such as data centers and electrical industries.
Bel Products, with its specialization in custom-built enclosures and related products, will continue to operate from its manufacturing base in Montreal, Quebec, and its warehouse located in Terrebonne, Quebec. The financial details of the acquisition have not been disclosed. According to InvestingPro data, ABB maintains a strong financial health score of 2.83 (Good), with a comfortable current ratio of 1.28 and manageable debt-to-equity ratio of 0.66.
Khalid Mandri, President of ABB’s Installation Products Division, highlighted the acquisition as a strategic step that aligns with the company’s growth objectives and commitment to enhancing customer and partner value. Mike Shenouda, Canada Region Leader and General Manager at ABB Installation Products Division, emphasized the synergies between ABB’s technological strengths and Bel Products’ market expertise, which are expected to foster local manufacturing solutions and drive further expansion.
Founded in 1964, Bel Products has established itself as a provider of high-quality, industry-rated enclosure solutions. Réal Bélanger, President of Bel Products, expressed enthusiasm for the new opportunities that ABB’s global presence will bring to the company.
ABB Electrification Canada Inc., part of the global technology leader ABB, which specializes in electrification and automation, continues to build on its legacy of innovation in connecting and protecting electrical systems. With a robust return on equity of 31% and EBITDA of $6.5 billion, ABB operates in over 100 countries with approximately 110,000 employees and is listed on both the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). For detailed analysis and additional insights about ABB’s valuation and growth prospects, visit InvestingPro, which offers exclusive financial metrics and professional-grade analysis tools.
The acquisition is expected to enhance ABB’s product offerings and manufacturing capabilities, enabling the company to better meet the growing demand for electrical enclosure solutions in North America. This information is based on a press release statement.
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