ABB sells Fläkt

ABB has sold its air handling business, including the Fläkt trademark, to Global Air Movement for $225 million. The new owner plans to combine it with Woods Air Movement Limited, of Colchester in the UK, a company acquired by Global Air Movement last year. Jörgen Centerman, ABB?s president and CEO, says the divestiture is “in line with ABB?s strategy to focus on core areas of expertise in power and automation technology”. He explains that “the air handling business is undergoing a period of consolidation, and we feel the new owners are in a better position to grow and sustain these operations”. The sale is subject to customary regulatory approvals.