ABB to sell Baldor generator business to Generac

ZURICH: Swiss engineering group ABB said on Tuesday it had agreed to sell all the assets of Baldor's generator-set business to Generac Holdings.

The world's biggest supplier of industrial motors and power grids said it had decided to divest the unit because of limited synergies with its core business.

ABB bought Baldor in 2011 for $3.1 billion. The generator-set business makes up roughly 3 percent of Baldor's total sales.

The terms of the transaction were not disclosed. The sale is expected to close in the fourth quarter.