Siemens to Acquire Elsag Bailey's Process Instrument Business from ABB

As an integral part of Siemens Energy & Automation's (SE&A) industrial strategy that is increasingly focused on hydrocarbon, chemical and pharmaceutical markets, Siemens announced an agreement with ABB to acquire the gas chromatograph and mass spectrometer business of Applied Automation Inc., an Elsag Bailey subsidiary.

The sale, which is subject to regulatory approvals from the U.S. Federal Trade Commission (FTC) and European Commission, is expected to be completed by the end of May. The acquisition also will strengthen the global position of the process automation and instrument division of Siemens AG's Automation & Drives Group.

The divestment of Applied Automation's gas chromatograph and mass spectrometer business will conclude regulatory conditions placed on ABB's acquisition of Elsag Bailey, completed in January of this year.

In 1998, Applied Automation reported revenues of about $50 million for its gas chromatograph and mass spectrometer products. The business employs some 320 people, mainly at its Bartlesville, OK facility, but also in a dozen other countries worldwide. It will be integrated into Siemens Energy & Automation as a wholly owned subsidiary.

Atlanta-based Siemens Energy & Automation offers a wide range of electrical and electronic products and systems for industrial, construction and utility customers. Included are power distribution equipment, machine control solutions, process control, automation systems, motors and drives. The company employs some 10,000 people and operates 25 manufacturing and assembly plants in the United States. Siemens Automation & Drives, headquartered in Nuremberg, employs more than 53,000 people at some 60 locations worldwide.