In ABB’s latest financial report, it announced its decision to divest the Power Conversion division of the Electrification area, which includes its emergency lighting business. The divestment is scheduled to happen this year.
Just after the close of the fourth quarter, we progressed with the final part of our announced divisional exits by signing an agreement to divest the Power Conversion division in the Electrification business area. From here on, we will continue to review our business portfolio on a product group level within our current divisions. One example is our decision to initiate the exit of the emergency lighting business within the Smart Buildings division in the Electrification business area during 2023.
Some of these emergency lighting brands include Emergi-Lite, Lightalarms, Lumacell, and Ready-Lite. More details on the transaction have not yet been released.
Tagged with ABB, lightED