ABB selling high-voltage cable operations to NKT Cables

NKT Cables is buying ABB's high-voltage cable operation worth a total of EUR 836 million. High-voltage cables are key components in reliable energy networks and are used to transfer large amounts of electrical energy over long distances.

NKT Cables design, produce and deliver solutions for low-, medium- and high-voltage networks mostly in the area of alternating current (AC). The company owns large production centers in Europe and China and sales centers throughout the world and it employs around 3,200 people. Their 2015 revenues amounted to EUR 1.2 billion.

– We are combining two strong cable portfolios rooted in a shared Nordic heritage that will be more competitive on a larger scale under NKT Cables’ ownership, while maintaining access to supply through a long-term strategic partnership – said Ulrich Spiesshofer, CEO of the ABB Group.

ABB’s cable system business offers turnkey solutions including design, engineering, supply, installation, commissioning and service. Its revenues in 2015 amounted to USD 524 million, it employs around 900 people and has state-of-the art manufacturing and R&D capabilities for high-voltage submarine and underground cables in Karlskrona, Sweden.

The transfer of assets also includes a new, cutting-edge cable-laying vessel, currently under construction. With experience of over a century, the business serves a range of applications and has commissioned hundreds of alternating current and direct current links around the world.

ABB d.o.o. Beograd

ABB

NKT Cables

high voltage cables

transfer of electrical energy

Ulrich Spiesshofer