http://bfqmb.cn 2017-09-25 16:00 《中華工控網(wǎng)》翻譯
ABB to acquire GE Industrial Solutions
ABB收購(gòu)GE工業(yè)解決方案業(yè)務(wù)
Shaping leadership in electrification
加強(qiáng)在電氣領(lǐng)域的領(lǐng)導(dǎo)地位
• Acquisition will strengthen ABB’s #2 global position in electrification
• Non-core GE business with significant value creation potential within ABB
• Expands ABB’s access to the North American market through deep customer relationships, large installed base and extensive distribution networks
• Long-term usage of GE brand agreed
• Purchase price of $2.6 billion
• Potential for annual cost synergies of approximately $200 million
• ABB and GE establish long-term, strategic supply relationship for ABB products
• Operational EPS accretive in year one
• Closing expected in H1 2018
• 收購(gòu)將加強(qiáng)ABB在電氣領(lǐng)域全球第二的市場(chǎng)地位
• GE的非核心業(yè)務(wù)對(duì)ABB卻具有重大價(jià)值潛力
• 通過(guò)深厚的客戶(hù)關(guān)系、極大的安裝基數(shù)以及廣泛的分銷(xiāo)網(wǎng)絡(luò),擴(kuò)大ABB北美市場(chǎng)布局
• 允許長(zhǎng)期使用GE品牌
• 收購(gòu)價(jià)26億美元
• 年度成本協(xié)同效應(yīng)約2億美元
• ABB和GE建立ABB產(chǎn)品的長(zhǎng)期戰(zhàn)略供應(yīng)關(guān)系
• 第一年實(shí)現(xiàn)運(yùn)營(yíng)每股盈利增值
• 收購(gòu)在2018年上半年完成
ABB today announced the acquisition of GE Industrial Solutions, GE’s global electrification solutions business. GE Industrial Solutions has deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. GE Industrial Solutions is headquartered in Atlanta, Georgia, and has about 13,500 employees around the world. In 2016, GE Industrial Solutions had revenues of approximately $2.7 billion, with an operational EBITDA margin of approximately 8 percent and an operational EBITA margin of approximately 6 percent. ABB will acquire GE Industrial Solutions for $2.6 billion; the transaction will be operationally accretive in year one. ABB expects to realize approximately $200 million of annual cost synergies in year five, which will be key in bringing GE Industrial Solutions to peer performance. As part of the transaction and overall value creation, ABB and GE have agreed to establish a long-term, strategic supply relationship for GE Industrial Solutions products and ABB products that GE sources today.
ABB今天宣布收購(gòu)GE全球電氣化解決方案業(yè)務(wù)GE Industrial Solutions(GE工業(yè)解決方案)。 GE工業(yè)解決方案在100多個(gè)國(guó)家擁有深厚的客戶(hù)關(guān)系,在A(yíng)BB最大的市場(chǎng)——北美市場(chǎng),有著極大的安裝基礎(chǔ)。 GE工業(yè)解決方案總部位于佐治亞州亞特蘭大,在全球擁有約1.35萬(wàn)名員工。2016年,GE工業(yè)解決方案的收入約為27億美元,運(yùn)營(yíng)EBITDA利潤(rùn)率約為8%,而運(yùn)營(yíng)EBITA利潤(rùn)率則約為6%。 ABB將以26億美元收購(gòu)GE工業(yè)解決方案業(yè)務(wù),該交易將在第一年實(shí)現(xiàn)增值。ABB預(yù)計(jì)在第五年將實(shí)現(xiàn)約2億美元的年度成本協(xié)同效應(yīng),這將是GE工業(yè)解決方案成為同業(yè)表現(xiàn)的關(guān)鍵。作為交易和整體價(jià)值創(chuàng)造的一部分,ABB和GE已經(jīng)同意為GE工業(yè)解決方案產(chǎn)品和GE今天所提供的ABB產(chǎn)品建立長(zhǎng)期戰(zhàn)略供應(yīng)關(guān)系。
“With GE Industrial Solutions, we strengthen our Number 2 position in electrification globally and expand our access to the attractive North American market,” said ABB CEO Ulrich Spiesshofer. “Combined with the long-term strategic supply relationship with GE, this transaction creates significant value for our shareholders.”
“通過(guò)GE工業(yè)解決方案,我們加強(qiáng)了全球電氣領(lǐng)域排名第二的位置,并擴(kuò)大了我們進(jìn)入頗具吸引力的北美市場(chǎng)的布局,”ABB首席執(zhí)行官史畢福(Ulrich Spiesshofer)說(shuō)道。“再加上與GE建立長(zhǎng)期戰(zhàn)略供應(yīng)關(guān)系,這一交易為股東創(chuàng)造了巨大的價(jià)值。”
He added: “Together with the GE Industrial Solutions team, we will execute our well-established plans in a disciplined way to bring this business as part of the global ABB family back to peer performance. With this next step of active portfolio management, we continue to shift ABB’s center of gravity, in line with our Next Level strategy, by strengthening competitiveness, mainly in the North American market, and lowering risk with an early-cycle business.”
他補(bǔ)充說(shuō),“與GE工業(yè)解決方案團(tuán)隊(duì)一起,我們將有紀(jì)律地執(zhí)行我們的成熟計(jì)劃,將該業(yè)務(wù)作為全球ABB家庭的一部分重新帶回同業(yè)表現(xiàn)。作為積極業(yè)務(wù)組合管理的下一步,我們將繼續(xù)按照‘新階段’戰(zhàn)略轉(zhuǎn)移ABB的業(yè)務(wù)重心,在北美市場(chǎng)加強(qiáng)競(jìng)爭(zhēng)力,并通過(guò)早周期業(yè)務(wù)降低風(fēng)險(xiǎn)。”
“This combination brings together two global businesses with a broad complement of electrical protection and distribution assets,” said John Flannery, CEO of GE. “ABB values our people, domain expertise, and our ability to operate in the segments where we have depth and experience. GE will also benefit through an expanded strategic supply relationship with ABB as the two companies work together.”
“這一組合將兩個(gè)全球擁有廣泛電氣保護(hù)和分銷(xiāo)資產(chǎn)的企業(yè)結(jié)合了在一起,”GE首席執(zhí)行官John Flannery說(shuō)道。“ABB重視我們的員工、領(lǐng)域?qū)I(yè)知識(shí),以及我們具有深度和經(jīng)驗(yàn)的細(xì)分市場(chǎng)的運(yùn)營(yíng)能力。隨著兩家公司的合作,GE也將通過(guò)擴(kuò)大與ABB的戰(zhàn)略供應(yīng)關(guān)系而獲益。”
GE Industrial Solutions will be integrated into ABB’s Electrification Products (EP) division, resulting in a unique global portfolio and very comprehensive offering for North American and global customers. They will benefit from ABB’s innovative technologies and the ABB Ability digital offering coupled with GE Industrial Solutions’ complementary solutions and market access. Included in the acquisition is a long-term right to use the GE brand. ABB will retain the GE Industrial Solutions management team and build upon its experienced sales force. After closing, this transaction will have an initial dampening effect to EP’s operational EBITA margin. ABB commits to returning EP to its target margin corridor of 15-19 percent during 2020.
GE工業(yè)解決方案將被納入ABB電氣產(chǎn)品(EP)業(yè)務(wù)部,為北美和全球客戶(hù)提供獨(dú)特的全球產(chǎn)品組合和全面的產(chǎn)品。他們將受益于A(yíng)BB的創(chuàng)新技術(shù)和ABB Ability數(shù)字化方案,以及GE工業(yè)解決方案的互補(bǔ)方案和市場(chǎng)準(zhǔn)入。收購(gòu)包括長(zhǎng)期使用GE品牌的權(quán)利。ABB將保留GE工業(yè)解決方案管理團(tuán)隊(duì),并以此建立經(jīng)驗(yàn)豐富的銷(xiāo)售隊(duì)伍。收購(gòu)?fù)瓿珊螅@筆交易將對(duì)ABB電氣產(chǎn)品業(yè)務(wù)部的運(yùn)營(yíng)EBITA利潤(rùn)產(chǎn)生初始削弱性效應(yīng)。ABB承諾在2020年之前將電氣產(chǎn)品業(yè)務(wù)恢復(fù)到15-19%的目標(biāo)利潤(rùn)率。
Tarak Mehta, President of ABB’s EP division, said: “This acquisition strengthens our position as partner of choice for electrification globally and in North America. We look forward to working with GE Industrial Solutions’ and ABB’s customers and channel partners to create new opportunities in this highly attractive core market for our division. We have a clear integration plan to realize the synergies of this combination and to bring our combined business back into the target margin corridor during 2020.”
ABB電氣產(chǎn)品業(yè)務(wù)部總裁梅塔(Tarak Mehta)表示:“這次收購(gòu)加強(qiáng)了我們作為全球和北美電氣化合作伙伴的地位。我們期待與GE工業(yè)解決方案和ABB的客戶(hù)和渠道商合作,為我們非常有吸引力的核心市場(chǎng)創(chuàng)造新的機(jī)會(huì)。我們有一個(gè)明確的整合計(jì)劃,以實(shí)現(xiàn)這一組合的協(xié)同效應(yīng),并使我們的合并業(yè)務(wù)在2020年回到目標(biāo)利潤(rùn)率。”
ABB’s EP division delivers more than 1.5 million products to customers around the world every day through a global network of channel partners and end-customers. EP offers a comprehensive portfolio of low- and medium-voltage products and solutions for a smarter, more reliable flow of electricity from substation to socket.
ABB電氣產(chǎn)品業(yè)務(wù)部通過(guò)遍布全球的渠道合作伙伴和終端客戶(hù)網(wǎng)絡(luò),每天為世界各地的客戶(hù)提供超過(guò)150萬(wàn)種產(chǎn)品。為了更智能、更可靠的電力供應(yīng),從變電站到插座,ABB電氣產(chǎn)品業(yè)務(wù)部提供了全面的中低壓產(chǎn)品和解決方案。
Given this transaction, ABB has decided to put the previously announced share buyback program on hold.
鑒于此次交易,ABB決定將之前公布的股份回購(gòu)計(jì)劃擱置。
The transaction is expected to close in H1 2018, subject to customary regulatory clearances.
在取得常規(guī)監(jiān)管許可之后,該交易預(yù)計(jì)將在2018年上半年完成。