ABB Takes Stake in Canada's Planar Motor in Technology Partnership
January 27 2021 - 6:06AM
Dow Jones News
By Joshua Stein
ABB Ltd. said Wednesday that it has taken a significant equity
stake in Canadian company Planar Motor Inc. as part of a technology
agreement.
The Swiss engineering company said the partnership will allow it
to integrate PMI's magnetic levitation technology into its machine
automation division's portfolio.
ABB said this supports a transition toward flexible and precise
manufacturing, from the strictly linear production it had
before.
ABB didn't disclose the financial terms of the partnership.
Write to Joshua Stein at joshua.stein@wsj.com
(END) Dow Jones Newswires
January 27, 2021 05:51 ET (10:51 GMT)
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