The power conversion division of Swiss engineering company ABB will be sold for $505 million, the company announced Friday. The sale, to Taiwan’s AcBel Polytech, is expected to be completed in the second half of 2023. The power conversion division, formerly Lineage Power, was acquired by ABB as part of the GE Industrial Solutions acquisition in 2018 and is not core to ABB. The division is based in Texas, US, and employs about 1,500 employees worldwide, predominantly at three major sites and the US headquarters. It generated revenues of approximately $440 million and income from operations of a…