- ABB (ABB) is looking to offload a number of non-core assets in deals that could be worth over $1B, Reuters reports.
- The businesses that are on the block include the steel-structures operations of Thomas & Betts, the U.S. electrical-components firm that ABB acquired two years ago for $3.9B.
- ABB is also looking to sell Thomas & Betts' heating and air conditioning unit, a separate industrial services business, and the power solutions unit of Power-One, the U.S. solar-energy firm that ABB purchased last year for around $1B.
- The report comes as fellow industrial conglomerates such as Siemens also prune their operations.
at Zacks.com (Tue, 12:10PM)