Mitsubishi and Primetals to snatch ABP Induction Systems
Mitsubishi Heavy Industries and Primetals Technologies buy ABP Induction Systems. The seller is CM Acquisitions, a private equity company based in Chicago/USA. ABP builds plants for ferrous and non-ferrous metal casting, forging and steel production.
London/Great Britain (Primetals) – The company offers a range of best-in-class products and services to blue-chip customers, including OEMs and suppliers to the automotive industry, industrial companies, foundries, steelworkers and steel manufacturers. Mitsubishi Heavy Industries and Primetals acquire the ABP shares jointly. The business activity will be managed by Primetals. ABP’s main products are induction melting, holding and casting furnaces as well as induction heaters. The ABP customer base comprises 1,600 active units worldwide. The company has competencies in the service business and offers aftermarket solutions over the entire product life cycle. Service centres are strategically located close to key industrial regions in Germany, USA, China, India, Mexico, Russia, South Africa, Sweden and Thailand. Primetals is also supplied exclusively by ABP with special induction heaters for continuous strip production, which is intended to secure Primetals a competitive advantage.