2012-06-28 - ABB, the leader in power and automation technologies, announced today a price increase for the R-MAG® Medium Voltage Outdoor Breakers.
The increase is 8% and is immediate for all quotations. Customers with blanket agreements will be contacted to review the price impact on an individual basis.
Since the beginning of 2011, Neodymium, a rare earth metal used in the ABB magnetic actuator, has increased in price more than 500%, far exceeding our aggressive efforts to contain these costs. Rare earth metals are forecasted to continue to increase throughout 2012 due a global demand.
In addition, ABB has realized increases from customer specified components throughout the first half of 2012.
ABB continues to pursue strategic sourcing initiatives and efficiencies within all areas of the business. However, we must pass some of these cost increases along to our customers in order for ABB to continue to provide the latest in technology and a high quality product.
The unique technology of the R-MAG breaker helps offsets these price escalations by reducing our customer’s total cost of ownership through lower operations and maintenance costs over the life of the product. The R-MAG breaker eliminates all maintenance on the operating mechanism, reduces inventory of spare parts and provides a longer operating life. In addition, the R-MAG provides the security of a five year warranty.
ABB (www.abb.com) is a global leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people.
For more information please contact:
ABB Marketing Manager
Lake Mary, FL
407 732 2763