ABB officially withdraws from photovoltaic inverter business

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ABB officially withdraws from photovoltaic inverter business

6 FAQs about [ABB officially withdraws from photovoltaic inverter business]

Why did ABB acquire a solar inverter company?

ABB purchased a solar inverter company to enhance the future prospects of the solar inverter business. This will enable ABB to focus its business portfolio on other growth markets. ABB’s solar inverter business has approximately 800 employees in more than 30 countries, with manufacturing and R&D sites located in Italy, India and Finland.

Is Fimer acquiring ABB's solar inverter business?

ABB and FIMER S.p.A have signed an agreement for FIMER to acquire ABB’s solar inverter business. This transaction will enhance the future prospects of the solar inverter business and enable ABB to focus its business portfolio on other growth markets.

Where are ABB solar inverters made?

ABB’s solar inverter business employs around 800 people in more than 30 countries, with manufacturing and R&D sites located in Italy, India and Finland. It includes the solar inverter business from Power-One acquired by ABB’s Discrete Automation and Motion division in 2013.

How much money did ABB make last year?

ABB said its inverter business generated $290 million in revenue last year. A portfolio of products, systems, and services for different types of solar installations held by ABB’s electrification business will be sold to Fimer.

Does ABB Australia still have a replacement inverter?

The warranty process for ABB Australia left the solar industry feeling jaded, with many installers reporting poor communication and being told 'we still don’t have your replacement inverter'. To be fair, this issue may no longer be relevant, but it was a significant concern in 2017.

Which company will take over ABB's liabilities?

According to the terms of the deal, FIMER will take over ABB’s liabilities. ABB’s solar inverter business currently employs nearly 800 people in more than 30 countries. Its manufacturing, research and development facilities are located in Italy, India and Finland.

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