ABB - ABB to sell Dodge unit to RBC Bearings in $2.9B deal

ABB (ABB) agrees to sell its Dodge mechanical power transmission business to RBC Bearings (ROLL) for $2.9B in cash.Dodge's products include mounted bearings, enclosed gearing and bushings for industrial applications; it achieved ~$600M for the last 12 months ending June 30, of which more than 90% were generated in the Americas.ABB said last November that it would explore options for Dodge, as well as its turbocharging unit and power conversion business.

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ABB to sell Dodge unit to RBC Bearings in $2.9B deal