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EspañolABB ASEA BROWN BOVERI
'ABB', formerly 'Asea Brown Boveri', is a multinational corporation headquartered in Zürich, Switzerland, operating mainly in the power and automation technology areas. ABB is one of the largest engineering companies as well as one of the largest conglomerate companies in the world. ABB has operations in around 100 countries, with approximately 111,000 employees.
ABB is traded on the SWX Swiss Exchange under the Virt-x financial system based in Zurich, the Stockholm Stock Exchange in Sweden, and the New York Stock Exchange in the United States.
Company History
ABB resulted from the 1988 merger of Swedish and Swiss corporations ASEA and BBC Brown Boveri (Brown, Boveri & Cie), the latter had absorbed the in 1967.
In the early 1990s, ABB purchased Combustion Engineering (C-E) headquartered in Windsor, 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. Continuing with its expansion plans, ABB purchased ELSAG BAILEY in 1999, which included Bailey Controls, Hartmann & Braun, and Fischer & Porter. This was the largest acquisition to date in ABB's history. The purchase of the automation process allowed ABB to become a leader in the global automation market.[1]
In 2000, ABB signed a contract for the delivery of equipment and services for two North Korean nuclear powerplants to be supplied under an agreement with KEDO (Korean Peninsula Energy Development Organization), a consortium formed in 1995 by the governments of the United States, Japan, South Korea and the European Union.[2] Also in 2000, ABB formerly divested from a joint venture named ABB-Alstom Power and sold its interest in conventional power generation systems and rail transportation to Alstom Power. ABB also sold its nuclear business to Westinghouse Electric Company.
ABB was formally listed on the New York Stock Exchange in 2001. Also during that year, ABB was ranked as number one on the Dow Jones corporate sustainability index[3] for the third year in a row.[1]
ABB went through a reorganization in 2005 to focus on the company's core business of power and automation technologies. The reorganization created the current structure of ABB with five business sectors (units) consisting of Power Products, Power Systems, Automation Products, Process Automation, and Robotics.
In 2006, ABB returned to financial health by settling its asbestos liability regarding claims that were filed against ABB's U.S. susidiaries, Combustion Engineering and Lummus Global.[4]
Business Sectors
ABB is active in many sectors with its core businesses in power and automation technology.
Power Products
The division incorporates ABB's manufacturing network for transformers, switchgear, circuit breakers, cables, and associated high voltage equipment. Power Products are the key components to transmit and distribute electricity. It also offers all the services needed to ensure products' performance and extend their lifespan. The division is subdivided into three business units - High Voltage Products, Medium Voltage Products and Transformers.
Power Systems
Power Systems offers turnkey systems and services for power transmission and distribution grids, and for power plants. Electrical substations and substation automation systems are key areas. Additional highlights include flexible alternating current 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.
In the UK, ABB Ltd has supplied and installed Highway / Street / Public Lighting for developers, councils and others.
Automation Products
It provides products to improve customers' productivity, including drives, electric motors and generators, low voltage products, instrumentation and analytical, and power electronics. The customer profile of this division includes a wide range of industry and utility operations, plus commercial and residential buildings.
Process Automation
The main focus of this ABB business is to provide customers with integrated solutions for control, plant optimization, and industry-specific application knowledge. The industries served include oil and gas, power, chemicals and pharmaceuticals, pulp and paper, metals and minerals, marine and turbocharging.
Robotics
ABB has one of the world's largest installed bases of industrial robots also providing robot software, peripheral equipment and modular manufacturing cells for tasks such as welding, assembly, painting and finishing, picking, packing, palletizing and machine tending. Key markets include automotive, plastics, metal fabrication, foundry, packaging, material handling, and food & beverage industries.
ABB Lummus
ABB Lummus Global is an international organization that focuses on the oil and gas, petroleum refining and petrochemical process industries. Lummus projects and services extend from offshore fixed and floating production facilities, to gas processing plants, refinery, petrochemical and chemical facilities, and polymer plants. In August 2007, Lummus Global was sold to CB&I.[5]
Telecommunications
In Australia, ABB plays a major role in the installation and maintenance of the country's copper-wire telephone network or 'local loop' (owned by Telstra).
History of leadership
Fred Kindle assumed the role of President and CEO on January 1, 2005. Kindle's most recently served as CEO of Sulzer Ltd. in 2004. Kindle received an engineering degree from ETH Zürich, and received his MBA from the Kellogg School of Management at Northwestern University in Illinois, U.S.
Former CEOs:
★ September 2002 - December 2004: Jürgen Dormann
★ January 2001 - September 2002: Jörgen Centermann
★ January 1997 - December 2000: Göran Lindahl
★ 1987-1996: Percy Barnevik
Former Board Members:
★ Peter Sutherland
★ Donald Rumsfeld
External References
★
★
★ Combustion Engineering
References
1. The ABB Group: Timeline
2. The two faces of Rumsfeld
3. Dow Jones Sustainability Indexes
4. ABB asbestos claims resolved
5. CB&I to buy Lummus Global from ABB
External links
★ Official website
See also
★ Investor AB
★ List of conglomerates
★ Stromberg (company)
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