ABB to sell Baldor assets to Generac

|About: ABB LTD. (ABB)|By:, SA News Editor

ABB (ABB) has agreed to sell the assets of Baldor Electric's generator-set business to Generac Holdings (GNRC) after concluding that the operations provided limited synergies with ABB's core business.

ABB bought Baldor for $3.1B in 2011; the unit's generator-set business accounted for around 3% of its total sales.

Financial terms of the deal weren't disclosed. (PR)