ABB and NIEDAX Group Announce the Completion of Their Joint Venture with the Incorporation of Abnex Inc.
November 4, 2024
ABB has completed its previously announced 50-50 joint venture with Niedax Group
- Abnex Inc. Expands Cable Tray Manufacturing Capabilities in North America to Meet Evolving Customer Needs
- Relying on its complementary products and service offering to meet the growing demand for electrical infrastructure solutions
ABB has completed its previously announced 50-50 joint venture with Niedax Group. The Abnex Inc. joint venture will diversify solutions and drive opportunities in the growing North American cable management market. Integrating ABB’s Installation Products division’s engineering and manufacturing capabilities into Niedax Group will enable the new company to deliver a broad range of cable tray solutions and services to electrical contractors, distributors and system integrators across Canada, the United States and Mexico.
Cable tray, a rapidly expanding sector of electrical components in North America, is widely used in electrical infrastructure and in commercial, industrial and residential applications. Abnex Inc.’s broad product portfolio and service offering includes complementary solutions previously offered by ABB’s Installation Products division, such as the T&B Cable Tray® and ExpressTray® Wire Tray product lines, as well as by Niedax Group, namely the MonoSystems® and Canadian Electrical Raceways product lines.
The combined cable management offering will cover a wide range of cable tray and ladder tray configurations, finishes and types, wire trays, channels and perforated plates, floor systems and enclosures, accessories and fittings. In addition to prefabricated options, customers will have the opportunity to customize their cable tray solutions.
More than 200 employees and numerous offices and manufacturing locations across North America are part of Abnex Inc., which will operate as an independent company, equally owned by ABB and Niedax Group. The joint venture’s management team and board of directors have been structured to provide equal representation from both parent companies. Cornelius Steele, a member of the Niedax Group board of directors, will lead the joint venture as president and CEO, and Cyrill Scholer, chief financial officer of ABB’s Installation Products division, will serve as chief financial officer.
The board of directors will consist of Bruno Reufels, CEO of Niedax Group, who will also serve as chairman; Khalid Mandri, president of ABB’s Installation Products division, who will serve as vice chairman; and Michael Shenouda, regional head of ABB’s Installation Products division, Canada. In addition to his role as President and CEO, Cornelius Steele will also serve on the Board of Directors.
“The successful completion of this joint venture builds on our combined expertise and continues our strategy of investing in emerging opportunities and providing our customers with advanced solutions that meet their evolving needs,” said Khalid Mandri, President of ABB’s Installation Products Division. “Forging this new venture in the North American cable management market will expand our portfolio of solutions and leverage automated and sustainable manufacturing to drive increased efficiency and improved delivery capabilities.”
“We look forward to the opportunities to expand our production and broaden our cable tray product and service offering,” said Bruno Reufels, CEO of Niedax Group. “Through this joint venture, we expect Abnex Inc. to deliver innovative cable tray solutions to our customers and leverage the complementary strengths of both companies to meet the growing demand in the cable tray and electrical component market.”
Abnex Inc. brings together more than 200 team members from ABB Installation Products and Niedax Group across the United States, Canada and Mexico. The new organization will include manufacturing, engineering and research and development specialists, as well as sales and product management experts.
ABB is a global technology leader in electrification and automation to enable a more sustainable future and more efficient use of resources. By combining its expertise in engineering and digitalization, ABB helps industries increase their efficiency, while becoming more efficient, productive and sustainable to perform better. At ABB, we live by the motto “When engineering excels”. The company has a history dating back more than 140 years and employs more than 105,000 people worldwide. ABB shares are listed on the SIX Swiss Exchange (ABBN) and NASDAQ Stockholm (ABB). www.abb.com
ABB Installation Products builds on its long history as a pioneer in electrification, creating solutions to safely connect and protect the electrical systems that power businesses, cities, homes and transportation. With more than 200,000 products under 38 leading brands, ABB Installation Products, formerly Thomas & Betts, provides solutions wherever electricity is used in the world and in space. tnb.ca.abb.com
The Niedax Group is one of the leading suppliers of cable management systems worldwide. It operates in 75 locations, including 26 production sites, in more than 30 countries. More than 2,700 employees currently work for the Niedax Group. Niedax offers approximately 50,000 articles in the electrical installation sector. Its products are mainly used in public buildings, tunnels, infrastructure projects, industrial and automotive plants, maritime systems, as well as the energy and shipbuilding sectors. The Niedax Group, headquartered in Linz on the Rhine, Germany, has been a family business since its founding in 1920. For further information: www.niedax-group.com .
Abnex Inc., a joint venture of ABB and Niedax, provides leading-edge, compliant and comprehensive cable management and cable tray solutions to help ensure the sustainable performance of electrical contractors, distributors and system integrators throughout North America. Named for its forward-looking outlook, Abnex Inc. is a 50-50 joint venture that will integrate the North American cable tray business of ABB Installation Products and the Niedax Group. For more information: www.abnex.com
Related Story
New Joint Venture Will Advance Solutions and Services to Customers Across North America
ABB and the Niedax Group recently announced their intent to form a 50/50 joint venture that combines their respective strengths into one organization to help that will meet the increased demand for cable trays and related electrical installation products. Mike Shenouda, Canada Region Leader, ABB’s Installation Products Division, discusses the strengths of these two companies and how their combined offering will benefit customers.
