Canadian Electrical Wholesaler

 Dec 18, 2018

CEW 24 CS ABB 400

Hitachi has finalized a deal with industrial giant ABB to purchase 80% of their Power Grids division for $6.4bn. The move marks a transition for Hitachi, which will look to expand its energy solutions offerings by combining ABB’s power grids business with their digital technology division.

ABB will retain 19.9% in the deal, which values the business at $11bn.

With the deal ABB will look to restructure to boost their overall performance after losing 25% in share prices over the past year. While for Hitachi, the move will increase their ability to compete with global industry leaders like General Electric and Siemens.

Hitachi acquires 100 manufacturing sites, 200 sales sites and 36,000 employees.

Cevian Capital, a 5% stakeholder in the power grids business, attempted to purchase Power Grids in 2016, at which time ABB sought to turn around the business internally.

ABB said the divestment to Hitachi expands on an existing partnership and will turn Power Grids into a global infrastructure leader “with enhanced access to markets and financing.”

"Hitachi will combine ABB’s strength in the power grids business with our digital technology to build an energy platform that contributes to innovation the energy business,” said Hitachi President and CEO Toshiaki Higashihara, adding, “This creates further innovation for business fields such as life and industry and helps us address society’s issues and improve quality of life.” 

ABB will also return 100% of the net profits, estimated a $7.6-7.8bn to its share holders through share buybacks, or a similar method. The deal is expected to close by the first half of 2020.

ABB reduces annual run-rate costs by $500m as a result of the deal.

“ABB has been driving industrial change for more than a century as a global pioneering technology leader. As a result of our Next Level strategy, all of our businesses are today number 1 or 2 in their respective markets. To support our customers in a world of unprecedented technological change and digitalization, we must focus, simplify and shape our business for leadership. Today’s actions will create a new ABB, a leader focused in digital industries,” said ABB CEO, Ulrich Spiesshofer.

ABB will simplify its organizational structure to facilitate its four leading businesses, focusing responsibilities and increasing efficiencies.

The four business are: Electrification, Industrial Automation, Robotics & Discrete Automation and Motion. Each business will be top global leaders in their respective market. ABB’s established domain know-how, world-class engineering and technology expertise, will position the four businesses well to deliver innovative products and solutions for enhanced customer value. ABB’s addressable market is growing by 3.5-4 percent per annum, adding $140 billion in size to reach $550 billion by 2025.

“Today's announcement marks the beginning of a new chapter in ABB's history. Building on our technology and global talented employee base we will further strengthen our focus in digital industries,” said ABB Chairman, Peter Voser.

Source:

https://new.abb.com/news/detail/12473/abb-shaping-a-leader-focused-in-digital-industries

https://www.hitachi.com/New/cnews/month/2018/12/f_181217.pdf

       Partnering For The Next Step                                                                     

Siemens CanadaWelcome to the Digital Enterprise Virtual Summit brought to you by Siemens

How quickly can you react to changing conditions and demands in your market? How can you ensure your production will run securely at any time in the future?

Industry’s digital and technological transformation is the answer for meeting today’s and tomorrow’s challenges and market needs.

With the right digitalization and automation solutions, expertise won from practical experience, and a partnership approach that benefits all involved parties.

To explore these possibilities, we’re bringing together top-level speakers, specialists and decision-makers from various industries and experts from Siemens to the Digital Enterprise Virtual Summit under the motto “Partnering for the next step.”   

This virtual summit will be an interactive digital event featuring first-hand experiences and success stories achieved with industrial digitalization and automation solutions, and cutting-edge technologies.

Join us on July 16 and learn from customers and experts how you can respond efficiently, flexibly and safely to the changing market environment.

To cover as many different time zones as possible, we offer two almost identical live sessions – you can also watch them on demand at your convenience:

Sessions runs from :  9:30 am to 2:15 pm ET (3:30 pm to 8:15 pm CEST)


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John JefkinsBy John Jefkins

In 2011, I started working in the electrical arena and quickly noticed that there was a high employee retention rate within the industry. Today, I regularly engage with Electro-Federation Canada members with 20, 30 and even 40 plus year tenures. Other industries I had worked in previously, such as telecommunications, had higher turnover rates.

Our industry faces an increasing need for talent, with new retirements and product/process innovations and modernization driving the need for specialized roles — some not even known yet.

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Digital Twin MarketA recent Markets & Markets report estimates the Digital Twin market will grow from US$3.8 billion in 2019, to US$35.8 billion per year by 2025, at a CAGR of 45.4%. Digital Twin software is already revolutionizing industries such as healthcare, architecture, aerospace, defence, and automotive and transportation.

Furthermore, the global smart infrastructure market, which includes the Digital Twin sector, is expected to thrive at a considerable CAGR between 2020 and 2025 as demand for the smart infrastructure has been a booming year on year, reports Market Research Explore - details. 

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PNNL StudyBy Craig DiLouie

The U.S. Department of Energy has released the results of a study examining authentication vulnerabilities in connected lighting systems (CLS). Particularly as emerging CLS incorporate distributed intelligence, network interfaces and sensors, they can serve as data-collection platforms that enable a wide range of valuable new capabilities as well as greater energy savings in buildings and cities. However, CLS technology is currently at an early stage of development, and its increased connectivity introduces cybersecurity risks that are new to the lighting industry and must be addressed for successful integration with other systems.

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David GordonBy David Gordon

COVID-19 has heightened the benefit of, and interest in, eCommerce for electrical distributors. Our second and third COVID-19 Electrical Market Sentiment Reports have shown that those with an eCommerce offering have seen online sales increases. Further, from conversations with distributors, their site activity increased. The benefit is that these companies had lower sales declines (and some increases), and were able to better serve their customers.

A further benefit is that their remote workforce had access to an online resource, other than manufacturers, for quick, easy, product research.

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The survey, conducted the third week in June, received responses from 164 individuals who equally represented industry stakeholders.

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EikoEIKO has announced the the introdutction of EiKO Marketplace, a digital storefront, located in the EiKO Portal. Developed to market and sell promotional specials and excess inventory including generational, overstock, and niche products; the EiKO Marketplace presents an opportunity to offer high-quality lighting at incredible savings.

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LevitonLeviton Canada is pleased to announce the nomination of Thomas Supinski as Sales Director for Alberta and the Prairies as of June 1st, 2020, as Julie Marineau will be moving to Montreal along with her family. Julie will be promoted to Vice-President, Retail at Leviton Canada’s head office.

Thomas has been residing in Calgary since 2003 and has a deep understanding of the regional market and its specific needs.

 

 

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Anju UddinBy Blake Marchand

Sonepar is excited to introduce Anju Uddin as the new Marketing Manager for their Ontario Region! Anju has more than 15 years of experience as a marketing expert, which includes running an independent agency working with a multitude of businesses in various industries and geographies from around the globe. 

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