By Joshua Stein

ABB Ltd. said Wednesday that it has taken a significant equity stake in Canadian company Planar Motor Inc. as part of a technology agreement.

The Swiss engineering company said the partnership will allow it to integrate PMI's magnetic levitation technology into its machine automation division's portfolio.

ABB said its partnership with Planar will support the industry's transition toward flexible and precise manufacturing, from strictly linear production.

ABB didn't disclose the financial terms of the partnership.

Write to Joshua Stein at joshua.stein@wsj.com

Corrections & Amplifications

This article was corrected at 1128 GMT because the original incorrectly suggested that ABB itself had strictly linear production. ABB said its partnership with Planar will support the industry's transition toward flexible and precise manufacturing, from strictly linear production.

(END) Dow Jones Newswires

01-27-21 0551ET