Asea Brown Boveri to Sell Minerals Unit

Asea Brown Boveri Inc. said it has reached an agreement to sell its C-E Minerals business to Imetal SA for about $150 million.

ABB had previously announced its plan to sell C-E Minerals, a supplier of alumina silica calcines and fused silica.

Imetal, based in Paris, is active in building materials, industrial minerals, metal fabricating and international trading.

Asea Brown Boveri, with sales of about $7 billion and 35,000 employees in the United States, provides products and services for the power, automation, environmental control, transit and other markets.

It is part of the ABB Group, Zurich, an electrical engineering company with total annual sales of about $25 billion and 215,000 employees in 140 countries.

The proposed acquisition is subject to approval by U.S. regulatory authorities.