ABB acquires HSB Reliability
ABB, a power and automation technology provider has acquired HSB Reliability Technologies and HSB Reliability Systems groups for an undisclosed amount. The acquired businesses have more than 70 years of reliability and maintenance consulting and implementation experience with the world’s leading manufacturing companies in both the process and discrete industries.
These groups were part of The Hartford Steam Boiler Inspection and Insurance Company, one of the world’s leading equipment breakdown insurers. These groups will be integrated into ABB’s service organization, effective immediately.
“We look at this acquisition as a strong, strategic investment in the future of ABB, our new employees and our industrial customers,” said Michael Drew, Vice President of Global Engineering & Consulting Services. “With the global reach of ABB’s services organization, combined with the experience and innovative reliability solutions, the opportunities to significantly improve our customers’ operational and financial performance will be greater than ever.
HSB provides plant and equipment productivity improvement solutions through the implementation of reliability and maintenance strategies, process optimization, scorecard development, operational change management and asset management information technologies. ABB’s consulting and outsourcing based solutions provide strategies and solutions for increased asset availability and production rates while improving safety compliance and decreasing maintenance costs.”
“They are a perfect fit for ABB’s service strategy,” said Dinesh Paliwal, head of ABB North America. “This expands ABB’s capabilities to improve our customers’ asset effectiveness and productivity through consulting, asset class outsourcing, and full service maintenance.”