Monday, January 30, 2012

Another American company soon to be an X American company

   Solar companies that received monies from the government are still closing or at best downsizing.  Will a new president change the world economy and bring manufacturing jobs back to our country or will more and more companies buy ours while we just continue to pour coffee and flip burgers.  There is nothing wrong in flipping burgers but it pays low wages with few benefits.

Swiss engineering company ABB announced on Jan. 30 that it had acquired U.S. rival Thomas & Betts for $3.9 billion.
The deal will see ABB gain access to Thomas & Betts' network of more than 6,000 distributor locations and wholesalers in North America, the firm said.
Thomas & Betts', a leader in low voltage products, will be integrated into ABB's Low Voltage Products division as a stand-alone unit working out of Memphis, Tenn.
ABB made the acquisition for $72 per share in cash, representing a 24% premium to Thomas and Betts' closing price on Jan 26.
Chief executive Joe Hogan described the deal as a "great fit."
"Because our products are complimentary we'll go to market with one of the broadest offerings in the industry," he said.


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