ABB sees automation orders rise, completes Baldor buyout

ABB Ltd., the Zurich, Switzerland-based maker of power-transmission gear, said its order volume grew by at least 10 percent in its fiscal fourth quarter due to sustained demand for factory automation equipment. Earnings before interest and taxes rose by a “double-digit” percentage on single-digit growth in revenues.

Separately, ABB said its subsidiary Brock Acquisition Corp. successfully completed its cash tender offer for all outstanding shares of common stock in industrial motor manufacturer Baldor Electric Co., Fort Smith, Ark. As reported in EM’s Dec. 10, 2010, edition, the $4.2 billion acquisition makes ABB the U.S. market-share leader in industrial motors.