ABB, a global leader in automation, has acquired Netherlands-based company Codian Robotics.
Codian Robotics is a delta robot provider for customers in the pharmaceuticals, and food and beverage industries. The products are mainly used for pick and place jobs that require very high precision and hygiene.
The Codian Robotics buyout will help ABB expand its technological robotics expertise and product portfolio.
Products now offered are mainly used in process, discrete automation and transportation industries.
In second-quarter 2020, the segment generated revenues of $629 million (representing 9.9% of ABB’s total revenues in the quarter).
On a year-over-year basis, the segment’s sales declined 26% (orders fell by 28%) due to softness in the general industry, automotive and machine builder-related markets.
For the third quarter of 2020, ABB predicts revenues and orders of this segment to decline on a year-over-year basis.
ABB currently has a market capitalisation of US$56.1 billion.
The financial terms of the new deal have not been disclosed.