ABB's acquisition of South African mine hoist business approved

The Competition Commission of South Africa has approved the acquisition by ABB South Africa (Pty) Ltd, a subsidiary of the leading power and automation technology group, of the mine hoist related business of local manufacturer, Coilmech (Pty) Ltd. The acquisition, for an undisclosed sum, extends ABB South Africa's process automation portfolio for customers in the mining sector. Mine hoists, used to transport materials and people, are important for the upgrading and expansion of mining infrastructure. ABB's mine hoists offer energy efficiency benefits. ABB South Africa intends expanding distribution of its mine hoist solutions through its India, Middle East and Africa (IMA) regional distribution channels. The Coilmech operation, based in Ekurhuleni, employs about 30 people. The business will be relocated to ABB's new head office, logistics and manufacturing premises at Longmeadow, Johannesburg.
 
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