ABB and NIEDAX Group Announce Completion of Joint Venture with the Formation of Abnex Inc.
November 18, 2024
ABB completed the previously announced 50/50 joint venture with Niedax Group. The Abnex Inc. joint venture (JV) will broaden solutions and advance opportunities in the rapidly growing North American cable management market. Integrating engineering and manufacturing capabilities of ABB’s Installation Products Division with Niedax Group will enable the newly formed company to deliver a broad range of cable tray solutions and services to electrical contractors, distributors and systems integrators across Canada, the United States and Mexico.
As a fast-growing area of electrical components within North America, cable tray is widely used in electrical infrastructure, commercial industrial and residential applications. Abnex Inc.’s extensive product portfolio and range of services includes complementary solutions previously offered by ABB Installation Products such as T&B® Cable Tray and ExpressTray® Steel Wire Basket Tray product lines, as well as Niedax Group’s MonoSystems® and Canadian Electrical Raceways product lines. The combined cable management offering will span a range of configurations, finishes and types of cable and ladder trays, wire baskets, channel and perforated tray, floor systems and boxes, accessories, and fittings. In addition to pre-made options, customers will have the ability to customize cable tray solutions.
More than 200 employees and multiple offices and manufacturing locations across North America are part of Abnex Inc., which will operate as an independent company equally owned by ABB and Niedax Group. This joint venture’s executive leadership team and board of directors have been structured to equally represent both parent companies. Cornelius Steele, Executive Board Member Niedax Group, will lead the joint venture as President and CEO, and Cyrill Scholer, Senior Finance Executive, ABB Installation Products Division, will serve as Chief Financial Officer. The Board of Directors will include: Bruno Reufels, CEO of Niedax Group, who will serve as Chairman; Khalid Mandri, President of ABB Installation Products, who will serve as Deputy Chair; and Michael Shenouda, Canada Region Leader, ABB Installation Products Division. In addition to his role as President and CEO of Abnex, Inc., Cornelius Steele will also serve on the Board of Directors.
“The successful completion of this joint venture builds on our combined expertise and furthers our strategy to invest in emerging opportunities and provide our customers with advanced solutions to meet their evolving needs,” said Khalid Mandri, President, ABB Installation Products Division. “Forging this new business in the North American cable management market will expand our portfolio of solutions and leverage automated and sustainable manufacturing to drive increased efficiency and enhanced delivery capabilities.”
“We look forward to the possibilities to scale up production and broaden our cable tray product offering and services,” said Bruno Reufels, CEO Niedax Group. “Through this joint venture, we expect Abnex Inc. to deliver innovative cable tray solutions to customers and build on the complementary strengths of both companies to meet growing demand in the cable tray and electrical component market.”
