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Elcoteq buys Swiss electronics unit from ABB

The Finnish electronics group, Elcoteq, has bought a Swiss electronics manufacturing unit from engineering group ABB for an undisclosed sum.

"The acquisition strengthens Elcoteq's industrial electronics, which is one of our three focus areas," the group said in a statement on Monday.

It added that the acquisition would nearly double Elcoteq's industrial electronics business in 2001.

The unit, based in canton Aargau, has annual sales of SFr108 million ($65.85 million), Elcoteq said.

The statement said: "The two companies have additionally agreed on a multi-year manufacturing and service agreement whereby Elcoteq will provide an extensive range of technology and industrialisation services as well as after sales service to ABB."

swissinfo with agencies


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