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ABB adds Jokab Safety to its LV division

15 February, 2010

ABB is buying the Swedish machine safety specialist, Jokab Safety International, for an undisclosed sum. Jokab, which was founded in 1988, employs around 120 people in Sweden, the US, Canada, Italy, France and the UK. Its turnover in 2008 was worth around €25 million.

Jokab will join ABB’s Cewe-Control business in its Low Voltage Products division.

“This investment is fully in line with our strategy to diversify by offering value-creating acquisitions,” says Tom Sjökvist, head of ABB`s Low Voltage division (above). “We are pleased to have acquired one of the strongest product portfolios in  machine safety for manufacturing.

“The acquisition strengthens both ABB and Jokab Safety’s offering.” He adds. “Together, we can better meet customers` growing demands for low-voltage and machine safety.”

The transaction is scheduled to be completed by 10 March.

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