ABB and Niedax Group have entered into an agreement to form a new 50/50 joint venture. The transaction is subject to customary closing conditions. Expected to close and commence operations in Fourth Quarter 2024, the collaboration will integrate the North American cable tray businesses of ABB's Installation Products Division and Niedax Group into a new joint venture.

The plan is to deliver advanced solutions and services to electrical contractors, distributors and systems integrators across the United States, Canada and Mexico. Demand for cable tray systems has steadily increased and is estimated to be one of the fastest-growing areas of electrical components within North America. Used in electrical systems across a broad range of applications such as electric power distribution, communications and technology, construction, manufacturing and more, cable tray provides support and organization of electrical cables, raceways and conductors.

As demand for electricity continues to grow, the joint venture will leverage the strengths and resources of ABB and Niedax Group to deliver greater customer value through a comprehensive solution offering, enhanced logistics capabilities, local R&D and production, and specialized services. The planned joint venture will offer ABB Installation Products's T&B Cable Tray and ExpressTray Steel Wire Basket Tray product lines, as well as Niedax Group's MonoSystems, Canadian Electrical Raceways and other Niedax product lines. The combined product portfolio of cable management solutions will be extensive, spanning a wide range of configurations, finishes and types of cable and ladder trays, wire baskets, channel and perforated tray, floor systems and boxes, accessories and fittings.

Customers will have the ability to customize solutions to meet their needs. ABB's Installation Products Division, Niedax Group are working to ensure a smooth transition for the more than 200 employees across the U.S. and Canada who will be part of the new organization. ABB Electrification is a global technology leader making efficient and reliable use of electricity from source to socket possible.

With more than 50,000 employees across 100 countries, collaborate with customers and partners to solve the world's greatest challenges in electrical distribution and energy management. The company help businesses, industry, and consumers run their facilities and homes efficiently and reliably.