ABB Expands Portfolio With Purchase Of K-TEK
ABB, an automation technology group, has agreed to acquire Prairieville, La.-based K-TEK, which will join the Measurement Products business unit within ABB’s Process Automation division. Terms were not disclosed. ABB expects the transaction to be completed within the second quarter.
"This acquisition fills an important space in our product line," explains Veli-Matti Reinikkala, head of ABB’s Process Automation division. "K-TEK is well established, particularly in the oil and gas industry, which is a growth area for ABB. We see a lot of potential for synergy between ABB’s extensive geographic reach and exposure to other industries, and K-TEK’s depth in level detection technology."
K-TEK is a provider of magnetic level gauges, magnetostrictive level transmitters and laser level transmitters. The company offers a broad range of level detection instruments, as well as pressure and temperature switches, and will have no overlap with ABB’s existing product line.
For more information, visit: http://www.abb.com.