ABB has completed the divestment of its high-voltage cable business to NKT Cables.
The ABB unit employs about 1000 people and has manufacturing and R&D capabilities for high-voltage submarine and underground cables in Karlskrona, Sweden.
It also has a cable accessories business is in Alingsås also in Sweden.
The transfer of assets also include a cable-laying vessel, currently under construction.
“By combining two strong cable portfolios … a more competitive cable business on a larger scale is created under NKT Cables’ ownership,” ABB said.
Swiss company ABB announced in September last year that it planned to sell the cable unit to NKT in a €836m deal.
Image: ABB
