ABB makes $5.5 billion bid for Rotork

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ABB makes $5.5 billion bid for Rotork
Photo: Urs Flueeler AP/TT

ABB describes the deal as a strategic transaction in electrification and automation. Rotork manufactures, among other things, electric actuators.

Meanwhile, ABB reported operating income of $1.93 billion for the second quarter, compared with $1.60 billion in the same quarter last year.

Analysts had expected an increase to $1.87 billion on average.

Order intake increased from $9.3 billion to $12.0 billion.

Revenue rose from $8.3 billion to $9.5 billion.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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