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ABB buys Austrian automation company Bernecker + Rainer
April 4, 2017 / 5:02 AM / 8 months ago

ABB buys Austrian automation company Bernecker + Rainer

ZURICH, April 4 (Reuters) - ABB has bought Austrian group Bernecker + Rainer Industrie-Elektronik, the Swiss engineering company said on Tuesday, beefing up its presence in the automation products used in the plastic, food and automotive industries.

Zurich-based ABB said it was aiming to increase B+R’s annual sales from more than $600 million at present to more than $1 billion, and said the business would add to ABB’s operating earnings per share from the first year.

The deal, which was for an undisclosed sum, is being funded from ABB’s own cash and is expected to be completed at mid-year.

Reporting by John Revill and Oliver Hirt; Editing by Michael Shields

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