ABB to acquire China wiring accessories business from Siemens.

ABB, an electrical equipment manufacturer, agreed to acquire China wiring accessories business from Siemens, a German multinational industrial conglomerate. Financial terms were not disclosed. “This acquisition reflects our strategic focus and commitment to growth in China. With the new channel to market and expanded offering, we can deliver a full range of ABB building automation and energy distribution solutions, enriching customers’ options for safe and reliable smart buildings technology,” Mike Mustapha, ABB Electrification’s Smart Buildings Division President.