ABP has a large global customer base with more than 1600 active equipment worldwide and provides first-class products and comprehensive services to blue chip customers, including leading automotive original equipment manufacturers and suppliers, industrial manufacturers, independent foundries, as well as steel manufacturers and steel producers. ABP company's main products are induction melting furnace, heat preservation and pouring furnace, and induction heater.
ABP also has core competitiveness in the service industry, mainly providing customers with comprehensive after-sales solutions throughout the product life cycle. The strategic service center is located near major industrial areas in Germany, the United States, China, India, Mexico, Russia, South Africa, Sweden and Thailand.
At the same time, ABP also provides special induction heater for arvedi ESP factory built by privet, which helps privet improve its competitive advantage.
Satoru Iijima, chairman and CEO of privet, said: "ABP induction heater is one of the most critical components in the production of endless strip steel, and also the flagship process of privet. With ABP becoming one of the subsidiary companies of Mitsubishi Heavy Industry Group, we can develop and provide more advanced technology for customers. At the same time, with the acquisition of ABP, we combine ABP induction heating and related technologies with our know-how to become a global engineering, plant construction, life cycle service and digital partner in the metal industry. ABP's experienced product mix and expertise will certainly complement our extensive customer base, including mini mill and long rolling plants, especially in emerging and headless steel production markets. "
Tim schreiter, chief executive of ABP, added: "ABP's state-of-the-art induction products and technology driven culture are well suited for both shareholders. Through closer cooperation with Mitsubishi Heavy Industries and privet, ABP can seek further growth potential, which will also promote the contribution of ABP to them. ABP can use the resources of the two companies globally, which will increase ABP's global market share, provide opportunities to develop new business areas and promote digital development. This will ensure the long-term stability of our equipment, employees and customers. "
According to sources, ABP related business activities will work closely with privet under its leadership. The final completion of ABP acquisition will be subject to the approval of relevant departments, and it is planned to end around the end of August.
