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Power and automation technology group ABB, Zurich, Switzerland, has acquired Turkey-based ELBI Elektrik from Ahlström Capital to improve its position in the Turkish low-voltage products segment and to expand its existing business in Eastern Europe. Terms were not disclosed.
ELBI Elektrik is headquartered in Istanbul and has about 450 employees. It designs and manufactures electrical wiring accessory products for the Turkish market, and exports to Eastern Europe with its own local sales organization.
Tarak Mehta, head of ABB’s low voltage products division, said ELBI’s product ranges are complementary to ABB’s. By complementing its existing wiring accessories portfolio with ELBI Elektrik’s products, ABB will be able to serve markets outside of Europe, which it has been unable to access with its current range of products.