ABB Group

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"ABB" redirects here. For other uses, see ABB (disambiguation).

ABB Ltd.

Type

Publicly traded limited company

Traded as

SIX: ABBN,NYSE: ABB,OMX: ABB, NSE: ABB,BSE: 500002

Industry

Electrical equipment

Predecessor(s) BACKLOTH LIMITED [1]

Founded

1988 through merger ofASEA (1883) of Sweden and Brown, Boveri & Cie(1891) of Switzerland

Headquarters Zrich, Switzerland

Area served

Worldwide

Key people

Ulrich Spiesshofer (CEO), Hubertus von Grnberg(Chairman)

Products

Power technology, Industrial automation

Revenue

US $39.337 billion (2012)[2]

Operating

US $3.838 billion (2012)[2]

income

Profit

US $2.704 billion (2012)[2]

Total assets

US $28.002 billion (2012)[2]

Total equity

US $16.906 billion (2012)[2]

Employees

145,000 (June 2012)[3]

Website

www.abb.com

ABB is a multinational corporation headquartered in Zurich, Switzerland, operating inrobotics and mainly in the power and automation technology areas. It ranked 143rd in the Forbes Ranking (2010). ABB is one of the largest engineering companies as well as one of the largestconglomerates in the world. ABB has operations in around 100 countries, with approximately 145,000 employees in June 2012,[3] and reported global revenue of $40 billion for 2011.[4] ABB is traded on the SIX Swiss Exchange in Zrich and the Stockholm Stock Exchange in Sweden since 1999, the New York Stock Exchange in the United Statessince 2001, September 2005 on London Stock Exchange and in November 2005 on the Frankfurt Stock Exchange.[5]
Contents
[hide]

1 History 2 Organizational structure

o o o o o o

2.1 Power Products 2.2 Power Systems 2.3 Discrete Automation and Motion 2.4 Low Voltage Products 2.5 Process Automation 2.6 Corporate and Other

3 Corporate affairs 4 Other 5 Management

o

5.1 Primary investors

6 See also 7 References 8 Further reading 9 External links

History[edit source | editbeta]

See also: ASEA and Brown, Boveri & Cie ABB resulted from the 1988 merger of the Swedish corporation Allmnna Svenska Elektriska Aktiebolaget (ASEA) and the Swiss company Brown, Boveri & Cie (BBC); the latter had absorbed the Maschinenfabrik Oerlikon in 1967. CEO at the time of the merger was the former CEO of ASEA, Percy Barnevik, who ran the company until 1996. ABB's history goes back to the late 19th century. ASEA was incorporated by Ludwig Fredholm in 1883 and Brown, Boveri & Cie (BBC) was formed in 1891 in Baden, Switzerland, by Charles Eugene Lancelot Brown and Walter Boveri as a Swiss group of electrical companies producing AC and DC motors, generators, steam turbines and transformers.

ABB around the world.

Organizational structure[edit source | editbeta]

ABB is the world's largest builder of electricity grids[6] and is active in many sectors, its core businesses being in power and automation technologies. The company has one corporate division and five production divisions since reorganisation in January 2010.

Power Products[edit source | editbeta]

Power products are the key components for the transmission and distribution of electricity. The division incorporates ABB's manufacturing network for transformers,switchgear, circuit

breakers, cables, and associated high voltage and medium voltage equipment such as digital protective relays. It also offers maintenance services. The division is subdivided into three business units - High Voltage Products, Medium Voltage Products and Transformers.

Power Systems[edit source | editbeta]

Power Systems offers turnkey systems and service for power transmission and distribution grids, and for power plants. Electrical substations and substation automation systems are key areas. Additional highlights include flexible AC transmission systems(FACTS), high-voltage direct current (HVDC) systems and network management systems. In power generation, Power Systems offers the instrumentation, control and electrification of power plants. The division is subdivided into four business units - Grid Systems, Substations, Network Management, and Power Generation.

Discrete Automation and Motion[edit source | editbeta]

The division Discrete Automation and Motion provides products and services for industrial production. It includes electric motors,generators, drives, programmable logic controllers (PLCs), analytical[clarification needed], power electronics and industrial robots. ABB has installed over 200,000 robots.[7] In 2006, ABB's global robotics Manufacturing headquarters moved to Shanghai, China. Also, wind generator and solar power inverter products belong to this division.

Low Voltage Products[edit source | editbeta]

The Low Voltage Products division manufactures low-voltage circuit breakers, switches, control products, wiring accessories,enclosures and cable systems to protect people, installations and electronic equipment from electrical overload. The division further makes KNX systems that integrate and automate a building's electrical installations, ventilation systems, and security and data communication networks. Low Voltage Products also incorporates a Low Voltage Systems unit manufacturing low voltageswitchgear and motor control centres. Customers include a wide range of industry and utility operations, plus commercial and residential buildings.

Process Automation[edit source | editbeta]

The main focus of this ABB business is to provide customers with systems for control, plant optimization, and industry-specific automation applications. The industries served include oil and gas, power, chemicals and pharmaceuticals, pulp and paper, metalsand minerals, marine and turbocharging.

Corporate and Other[edit source | editbeta]

The Corporate and Other department of ABB deals with the overall management and functioning of the company as well as asset management and investment. It supports MNCs.

Corporate affairs[edit source | editbeta]

In 1990, ABB purchased Westinghouse's metering and control division (the load control division was spun off to Cannon Technologies in the late 1990s and the meter division was spun off to Elster Electricity in the early 2000s). Also, in the early 1990s, ABB purchased Combustion Engineering (C-E), headquartered in Stamford and Norwalk, Connecticut, a leading U.S. firm in the development of conventional fossil fuel power and nuclear power supply systems to break into the North American market.Klaus Agthe was CEO of the US operation at the time. Continuing with its expansion plans, ABB purchased Elsag Bailey, a process automation group, in 1997 which included Bailey Controls, Hartmann & Braun, and Fischer & Porter. This was the largest acquisition to date in ABB's history. ABB bought International Combustion Ltd[8] from Rolls-Royce[9] in 1997. ABB's boiler and fossil fuel businesses were purchased by Alstom in 2000, and its nuclear business was purchased byWestinghouse Electric Company in 2000. In 2000, ABB also signed a contract for the delivery of equipment and services for twoNorth Korean nuclear powerplants to be supplied under an agreement with the Korean Peninsula Energy Development Organization (KEDO),[10] a consortium formed in 1995 by the governments of the United States, Japan, South Korea and the European Union.[11] ABB formally divested from a joint venture named ABB-Alstom Power in 2000, and sold its interest in conventional power generation systems to Alstom Power. ABB's nuclear business was sold[12] to BNFL and merged intoWestinghouse Electric Company. In 2001, ABB was ranked as number one on the Dow Jones corporate sustainability index[13] for the third year in a row. In 2002, ABB asked Lindahl, the company's former chief executive, to return some of his $50 million retirement pay, which its board called excessive. ABB also asked its former chairman Percy Barnevik to pay back part of his $87 million pension package. The size of the pensions was disclosed at the same time as ABB's $691 million net loss for 2001 made headlines and drew sharp criticism in Switzerland and Sweden.[14] ABB's Building Systems business unit was sold off in 2004 to Capvis,[15] a Swiss private equity company, as part of ABB's strategy to focus on power and automation technologies. ABB's building systems businesses in Australia and Hong Kong were sold off the year before, in May 2003, to Downer EDI Limited. Building Systems provided services for building facilities

encompassing indoor air quality, building automation as well as power distribution and management. Financial debt and lingering asbestos liability brought ABB to the brink of bankruptcy in the early 2000s. In 2006, ABB returned to financial health by settling its asbestos liability regarding claims that were filed against ABB's U.S. subsidiaries, Combustion Engineering and Lummus Global.[16] In August 2007 Lummus Global was sold to CB&I.[17] In December 2008, ABB acquired Ber-Mac Electrical and Instrumentation to expand its presence in western Canada's oil and gas industries. Ber-Mac Electrical and Instrumentation has been in the business of supplying electrical power and instrumentation equipment and services, both domestically and to international markets since 1980. Ber-Mac provides its clients with expertise in industrial automation, electrical and instrumentation design, process optimization, panel fabrication and field services. It is particularly strong in the Oil & Gas industry. Ber-Macs value proposition in engineering expertise and service capabilities is highly respected throughout Western Canada, this was a key factor in ABBs decision to acquire the firm. This acquisition significantly expanded ABBs presence in Western Canada to more than 760 employees in over 20 locations. In 2009, ABB realigned its automation divisions to enhance growth opportunities. As of January 1, 2010, the business units in the Automation Products and Robotics divisions were regrouped into two new divisions Discrete Automation and Motion, and Low Voltage Products. The Process Automation division remained unchanged except for the addition of the instrumentation business from the Automation Products division. In May 2010, ABB acquired software company Ventyx for more than $1 billion from Vista Equity Partners.[18] In 2011, on May 9 ABB announced acquisition of Australian-based Mincom Limited from private equity firm Francisco Partners - to expand their enterprise software business for undisclosed sum.[19] On July 29, 2011, acquisition has been finalised.[20] Mincom is now Ventyx. In 2011 ABB acquired Baldor Electric USA for $4.2 billion in an all-cash transaction On January 30, 2012, ABB Group acquired Thomas & Betts in a $3.9 billion cash transaction.[21] On June 15, 2012, ABB completed acquisition of commercial and industrial wireless technology specialists Tropos. In July 2013, ABB acquired Power-One in a $1 billion all-cash transaction, to become the leading global manufacturer of solar inverters [1].

Other[edit source | editbeta]

In May 2013, ABB Scheron SA joined with several groups in Geneva (TOSA Trolleybus Optimisation Systme Alimentation, or in English, Trolleybus Power System Optimization) in a one-year demonstration of a trolleybus route using a novel charging system. Rather than overhead wires, charging is accomplished by fixed overhead devices located at stops along the route and at the terminus.[22][23][24] Jean-Luc Favre, head of Rail ISI, discussed the promising role of improved electric transport technology in ABB.[25]

Management[edit source | editbeta]

On June 17, 2013, the Board of Directors of ABB Ltd. announced the appointment of Ulrich Spiesshofer as Chief Executive Officer after the surprise resignation of Joe Hogan for personal reasons. Former CEOs:

September 2008 May 2012: Joe Hogan February 2008 - September 2008: Michel Demar - ad interim January 2005 - February 2008: Fred Kindle September 2002 - December 2004: Jrgen Dormann January 2001 - September 2002: Jrgen Centerman January 1997 - December 2000: Gran Lindahl 1987-1996: Percy Barnevik

Chairman of the Board The Board of Directors[26] is chaired by Hubertus von Grnberg. He took over the position in May 2007, following the retirement ofJrgen Dormann, who had chaired the board since 2002. Former Board Members:

Peter Sutherland Donald Rumsfeld (19902001)

Primary investors[edit source | editbeta]

The largest single stake in the firm is held by the Swedish investment company Investor AB, controlled by the Wallenberg family, which holds 7.1%.[27]

See also[edit source | editbeta]

Sweden portal Switzerland portal Companies portal

ASEA Brown, Boveri & Cie Combustion Engineering List of conglomerates Maschinenfabrik Oerlikon Stromberg (company)

References[edit source | editbeta]

1. ^ http://www.companieslist.co.uk/03780764-abblimited company details 2. ^ a b c d e "Annual Results 2012". ABB. Retrieved 2013-02-14. 3. ^ a b "Our businesses". ABB. Archived from the original on 7 July 2011. Retrieved 2011-02-20. 4. ^ "Annual Results 2012". ABB. Retrieved 2013-02-14. 5. ^ "ABB listings and symbols". Abb.com. Archived from the original on 20 December 2010. Retrieved 2010-12-12. 6. ^ Anjili Raval (18 February 2010). "ABB's acquisitive mood leads to big gains". Financial_Times. 7. ^ "ABB Robotics". ABB. Archived from the original on 7 July 2011. Retrieved 2011-02-20. 8. ^ "International Combustion Ltd from American roots to Sinfin Lane". Bygonederbyshire.co.uk. 2010-12-06. Retrieved 201012-12. 9. ^ "UK Business Park". UK Business Park. Retrieved 2010-1212. 10. ^ "Press release: ABB to deliver systems, equipment to North Korean nuclear plants". ABB. 20 January 2000. Retrieved 200909-13. 11. ^ Randeep Ramesh (2003-05-09). "The two faces of Rumsfeld". London: The Guardian.

12. ^ "Press release: ABB to sell nuclear business to BNFL". ABB. 29 December 1999. Retrieved 2009-09-13. 13. ^ "Dow Jones Sustainability Indexes". 14. ^ by Edith M. Lederer (2002-03-01). "UN: Swedish Businessman Loses Job". CorpWatch. Retrieved 2010-12-12. 15. ^ "ABB sells Swiss Building Systems business". Abb.com. 2004-02-20. Retrieved 2010-12-12. 16. ^ Uncredited (September 1, 2006). "ABB asbestos claims resolved". Reuters. 17. ^ Krauskopf, Lewis (2007-08-27). "CB&I to buy Lummus Global from ABB". Reuters.com. Retrieved 2010-12-12. 18. ^ "ABB acquires Ventyx to strengthen its network management business". abb.com. 2010-05-05. Retrieved 2012-08-27. 19. ^ "ABB Press Release: ABB acquires Mincom to expand enterprise software business". abb.com. 2011-05-09. Retrieved 2011-08-06. 20. ^ "ABB Press Release: ABB completes acquisition of Mincom". abb.com. 2011-07-29. Retrieved 2011-08-06. 21. ^ "Thomas & Betts Corporation Reports Fourth Quarter 2011 Net Earnings". www.tnb.com. 2012-01-30. Retrieved 2012-0201. 22. ^ Mike Millikin, ed. (31 May 2013). "ABB develops and demonstrates flash charging system for electric buses". Green Car Congress. Retrieved 2012-06-1. 23. ^ Zachary Shahan (31 May 2013). "ABB Unveils Ultrafast, 15Second Flash Charging Electric Bus". CleanTechnica. Retrieved 2013-06-1. 24. ^ "New Charging Technology from ABB - Analyst Blog". Zachs Investment Research. 31 May 2013. Retrieved 2013-06-1. 25. ^ "Geneva Unveils Electric Bus without Overhead Wires (see video of interview)". The Local, Switzerland's News in English. 21 April 2013. Retrieved 2013-06-1. 26. ^ "ABB Board of Directors". Abb.com. 2010-0201. Archived from the original on 20 December 2010. Retrieved 2010-12-12.

27. ^ "ABB: Major shareholders".

Further reading[edit source | editbeta]

ABB (2005): The Dormann Letters, Jrgen Dormann/ABB Group, Zurich Blanger, Jacques et al. (2001): Being local worldwide: ABB and the challenge of global management, Cornell University Press, New York. ISBN 0-8014-3650-8

Kevin Barham, Claudia Heimer (1998): ABB: the dancing giant creating the globally connected corporation. Financial Times, London. ISBN 0-273-62861-5

External links[edit source | editbeta]

Wikimedia Commons has media related to: ABB

Official website ABB Robotics YouTube channel ABB Scheron SA

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Swiss Market Index companies of Switzerland

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ABB Group

Categories:

ABB Asea Brown Boveri Engineering companies of Sweden Engineering companies of Switzerland Power engineering Companies listed on the New York Stock Exchange Companies listed on the SIX Swiss Exchange Industrial machine manufacturers Robotics companies Companies related to the Wallenberg family Companies formerly listed on the London Stock Exchange Electrical engineering companies Organisations based in Zurich MES software Companies established in 1883

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