ABP makes induction melting, holding and pouring furnaces as well as induction heaters. It also makes special induction heaters exclusively for Primetals Technologies, which uses them in its endless strip production technology.

“ABP’s induction heaters are one of the most crucial elements for endless strip production, a flagship process for Primetals Technologies. With ABP becoming one of Mitsubishi Heavy Industries’ group companies and the further close ties that will bring, we can develop and provide customers with even more advanced technologies,”said Primetals Technologies chairman and chief
executive Satoru Iijima.

"Also, with the acquisition of ABP, we combine its competence in induction heating and related activities with our know-how as a worldwide engineering, plant-building, life cycle services and digitalization partner for the metals industry,” he said. 

ABP has a global customer base with more than 1,600 units in operation worldwide. ABP also is in the service business and provides comprehensive aftermarket solutions to customers though the entire product life cycle. It has service centers in Germany, the United States, China, India, Mexico, Russia, South Africa, Sweden and Thailand.

Both Mitsubishi Heavy Industries and Primetals Technologies will hold ABP’s shares. Primetals Technologies is a joint venture of Mitsubishi Heavy Industries and Siemens. 

The deal is expected to close in August.