Primetals Technologies, MHI to Acquire ABP Induction Systems
Primetals Technologies and Mitsubishi Heavy Industries (MHI) will acquire ABP Induction Systems (ABP), a global manufacturer and servicer of induction furnaces and heating systems. ABP provides state-of-the-art equipment for ferrous and nonferrous metal casting, forging and steelmaking. Its main products are induction melting, holding and pouring furnaces as well as induction heaters. MHI and Primetals Technologies will jointly take ABP’s shares, and future business activities will be conducted in close cooperation with and under the leadership of Primetals Technologies.
ABP offers its products and services to leading automotive OEMs and suppliers, industrial manufacturers, independent foundries, steel-plant manufacturers and steel producers. It will become a group company of MHI under the ownership of Mitsubishi Heavy Industries America in Houston, Texas, and Primetals Technologies in Alpharetta, Ga. The completion of the acquisition is scheduled to close around the end of August 2019.
ABP operates service centers that are strategically located close to major industrial areas in Germany, the U.S., China, India, Mexico, Russia, South Africa, Sweden and Thailand. The company also exclusively provides special induction heaters to Primetals Technologies for endless strip production.