Mitsubishi Heavy Industries (MHI) and Primetals Technologies will acquire ABP Induction Systems, a global manufacturer and servicer of induction furnaces and heating systems from CM Acquisitions, a Chicago based private equity firm. ABP offers a variety of products and comprehensive services to blue chip customers, including leading automotive OEMs and suppliers, industrial manufacturers, independent foundries as well as steel plant manufacturers and steel producers. MHI and Primetals Technologies will jointly take ABP’s shares.
Future business activities will be conducted in close cooperation with and under the leadership of Primetals Technologies. The completion of the acquisition of ABP is subject to the approval of the relevant authorities, and is planned to close around the end of August, 2019.
ABP provides state-of-the-art equipment for ferrous and nonferrous metal casting, forging and steel making. Its main products are induction melting, holding and pouring furnaces as well as induction heaters. ABP’s business is built upon a large and global customer base with more than 1,600 active units worldwide. ABP also has a core competence in the service business and provides comprehensive aftermarket solutions to customers though the entire product lifecycle. Service centers are strategically located close to the major industrial areas in Germany, the United States, China, India, Mexico, Russia, South Africa, Sweden and Thailand.
ABP also exclusively provides special induction heaters to Primetals Technologies for endless strip production, which helps provide a competitive edge.
ABP will be a group company of MHI under the ownership of Mitsubishi Heavy Industries America, Inc., headquartered in Houston, Texas, and Primetals Technologies USA LLC, Alpharetta, Georgia.
Published in the August 2019 Edition
