Dec 19, 2019
NKT is strengthening its research and development competencies with the acquisition of Technology Consulting from ABB. The acquisition is a key step for NKT to reinforce its technology capabilities developing the future technology for power cable solutions.
NKT has acquired a technology consulting unit from ABB specializing in key areas within power cable development such as Chemistry & Materials, Applied Mechanics and Electrical Testing, which is a non-core business of ABB. The acquisition includes approximately 30 employees with expert competencies now being part of the existing R&D setup in NKT.
- This is an important step in strengthening our technology capabilities and R&D setup to maintain our strong market position within innovative power cable solutions. I am pleased to welcome the new colleagues to NKT bringing expert knowledge in key areas needed to help continue developing the power cable technology for the future, says Anders Jensen, Executive Vice President and Chief Technology Officer in NKT, and continues:
- We are keen to continue to grow the consultancy business and leverage the strong technological capabilities of the team to continue to develop our portfolio of power cables solutions. With the acquisition we strengthen our competencies within HVDC technology. This enhances our market position in the growing HVDC market driven by offshore wind and interconnectors.
The acquisition was completed 1 December 2019 and the consultancy business remains located in Västerås, Sweden.