Switzerland-based power and automation company ABB has agreed to divest its Huntersville, NC, cable factory to Southwire Company LLC, a Carrollton, GA-based wire and cable manufacturer. Terms of the sale were not disclosed.
The company said the sale of the Huntersville facility is in line with its "Next Level" strategy to optimize its business portfolio, and that "ABB and Southwire will also pursue a business partnership to leverage the facility for the land cable portion of certain HVDC projects."
“We remain fully committed to the North American market and to the high-voltage cables business,” said Claudio Facchin, president of ABB’s Power Systems division. "The decision to divest this factory is in line with our Next Level strategy and focus on optimizing our operations, exploring new business models and building partnerships."
