Close
Close

Published

ABB has to pay through the nose to exit the inverter business

It’s not often that someone pays good money for another company to take a business away, but that’s precisely what ABB has come up with as a way of getting itself out of the inverter market, costing it a total of $470 million. We’d hate to have to redesign the web page which must now say that ABB provides “almost” everything in a solar plant, except inverters, which it is now out of simply, because it was losing fantastic amounts of money on the business. ABB said it will take a charge of $430 million in Q2, with up to 75% or $322.5 million being as cash paid to Italian acquiror Fimer SpA, itself a diversified equipment business with an…

Close