ABB sells Cables unit to B3

The deal is expected to be closed during November. Mike Walton, Managing Director at B3 explains: "This is an important acquisition for B3 Cable Solutions; not only does it mark the commencement of our strategy to increase our market penetration in Europe, it also serves to diversify our product portfolio and manufacturing capabilities". "Furthermore the ABB customer base is an important consideration for us, since the company currently serves many blue chip customers across Europe". "We are extremely pleased to have reached agreement with the management of ABB".