ABB Asea Brown Boveri
195678
224772245
2008-07-10T10:21:03Z
193.185.55.253
{{Infobox_Company |
company_name = ABB |
company_logo = [[Image:ABB logo.svg|220px]] |
company_type = [[Public company|Public]] ({{SWX|CH0012221716CHF1|ABBN}}, {{OMX|SSE3966|ABB}}, {{NYSE|ABB}}) |
slogan = ''Power and productivity for a better world.'' |
foundation = 1988 through merger of [[ASEA]] of Sweden and [[Brown, Boveri & Cie]] of Switzerland|
location = [[Zürich]], [[Switzerland]] |
key_people = Michel Demaré, [[chief executive officer|interim CEO]] |
num_employees = 112,000 (2007)|
industry = [[motive power|Power technology]], [[Industrial Automation]]|
revenue = {{profit}}$29.2 billion [[United States dollar|USD]] (2007) |
homepage = [http://www.abb.com/ www.abb.com]
}}
'''ABB''', formerly '''Asea Brown Boveri''', is a [[multinational corporation]] headquartered in [[Zürich]], [[Switzerland]], operating mainly in the [[motive power|power]] and [[automation]] technology areas. ABB is one of the largest [[Electrical engineering|engineering companies]] as well as one of the largest [[list of conglomerates|conglomerate companies]] in the world. ABB has operations in around 100 countries, with approximately 112,000 employees (2007).
ABB is traded on the [[SWX|SWX Swiss Exchange]] under the [[Virt-x]] financial system based in [[Zurich]], the [[Stockholm Stock Exchange]] in [[Sweden]], and the [[NYSE|New York Stock Exchange]] in the [[United States]].
== Divisions ==
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 [[transformer]]s, [[switchgear]], [[circuit breakers]], [[cables]], and associated [[high voltage]] and medium voltage equipment such as [[digital protective relay]]s. 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 [[Electricity distribution|distribution]] [[grids]], and for [[power plants]]. [[Electrical substation]]s and substation automation systems are key areas. Additional highlights include [[Flexible Alternative Current Transmission System|flexible alternating current transmission systems (FACTS)]], [[high-voltage direct current|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.
=== 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]], [[Electric power|power]], [[Chemical industry|chemicals]] and [[pharmaceuticals]], [[Wood pulp|pulp]] and paper, [[metals]] and [[minerals]], [[Marine (ocean)|marine]] and [[turbocharging]].
=== Robotics ===
ABB has one of the world's largest installed bases of [[industrial robot]]s also providing robot software, peripheral equipment and modular manufacturing cells. ABB's robots are provided for tasks such as welding, assembly, painting and finishing, picking, packing, palletizing and machine tending. Key markets include [[automotive]], [[plastics]], [[Fabrication (metal)|metal fabrication]], [[foundry]], [[packaging]], [[Bulk material handling|material handling]], and [[Food and beverage|food & beverage]] industries. In 2006 ABB's global robotics headquarters moved to [[Shanghai]], [[China]]<ref>{{cite news | url=http://www.abb.com/cawp/seitp202/74f2e66f09cb5be7c12572090044759f.aspx | title=ABB Robotics helps to improve productivity for Chinese auto customer | author=Isabelle Liu, ABB | date=2006-09-29 | publisher=ABB}}</ref> and in 2007 ABB added a manufacturing unit for industrial robots in China serving the local market<ref>{{cite news | url=http://english.people.com.cn/200704/18/eng20070418_367517.html | title=ABB starts robot production | author= | date=2006-09-29 | publisher=China Daily}}</ref>.
=== Other areas of activity ===
The company's Building Systems activities has been sold off globally, but still operates in a handful of countries. It provides integrated solutions for building facilities encompassing indoor air quality, building automation as well as power distribution and management. In the UK, ABB has supplied and installed Highway / Street / Public Lighting for developers, councils and others. 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==
ABB resulted from the 1988 [[merger]] of [[Sweden|Swedish]] and [[Switzerland|Swiss]] corporations [[ASEA]] and BBC Brown Boveri ([[Brown, Boveri & Cie]]), the latter had absorbed the [[:de:Maschinenfabrik Oerlikon|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 nineteenth century. [[ASEA]] was incorporated in 1883 and [[Brown, Boveri & Cie]] (BBC) was formed in 1891.
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. 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.
In 2000, ABB signed a contract for the delivery of equipment and services for two [[North Korea]]n nuclear powerplants to be supplied under an agreement with the [[Korean Peninsula Energy Development Organization]] (KEDO), a consortium formed in 1995 by the governments of the United States, Japan, South Korea and the European Union.<ref>{{cite news | url=http://www.guardian.co.uk/korea/article/0,2763,952289,00.html | title=The two faces of Rumsfeld | author=Randeep Ramesh | date=2003-05-09 | publisher=[[The Guardian]]}}</ref> 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|Alstom Power]]. ABB's nuclear business was sold<ref>[http://www.abb.com/cawp/seitp202/c1256c290031524b41256856003dc16c.aspx Press release: ABB to sell nuclear business to BNFL]</ref> to [[BNFL]] and merged into [[Westinghouse Electric Company]].
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 huge $691 million net loss for 2001 made headlines and drew sharp criticism in Switzerland and Sweden. <ref>http://www.corpwatch.org/article.php?id=1928 CorpWatch: UN: Swedish Businessman Loses Job</ref>
ABB was formally listed on the [[NYSE|New York Stock Exchange]] in 2001. Also during that year, ABB was ranked as number one on the [[Dow Jones]] corporate [[sustainability|sustainability index]]<ref>{{cite news | url=http://www.sustainability-index.com/default.html| title=Dow Jones Sustainability Indexes}}</ref> for the third year in a row.
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. subsidiaries, [[Combustion Engineering]] and Lummus Global.<ref>{{cite news | url=http://www.boston.com/business/articles/2006/09/01/abb_says_lummus_asbestos_claims_resolved| title=ABB asbestos claims resolved | author=Uncredited | date=September, 1 2006 | publisher=[[Reuters]]}}</ref> In August 2007, Lummus Global was sold to [[CB&I]].<ref>[http://www.reuters.com/article/mergersNews/idUSWEN068720070827 CB&I to buy Lummus Global from ABB]</ref>
==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]]. Kindle received an engineering degree from [[ETH Zürich]], and received his [[MBA]] from the [[Kellogg School of Management]] at [[Northwestern University]] in [[Illinois]], [[United States|U.S.]] In December 2007, Kindle was named "Entrepreneur of the year" in a survey of 100 Swiss business journalists. <ref>[http://www.swissinfo.ch/eng/front/ABB_boss_named_Entrepreneur_of_the_Year.html?siteSect=104&sid=8549604&cKey=1198060608000&ty=nd Swissinfo: ABB boss named Entrepreneur of the Year]</ref> In February 2008, Kindle resigned with immediate effect after the publication of the company's 2007 results, citing "irreconcilable differences about how to lead the company".<ref>{{cite press release
|title=ABB CEO Fred Kindle leaves company
|url=http://www.abb.com/cawp/seitp202/11833c3d0f8702e1c12573ee001f539c.aspx?leftdb=abbzh250&v=553E&e=us
|publisher=ABB Group
|date=[[13 February]], [[2008]]
|accessdate=2008-02-13}}</ref> [[chief financial officer|CFO]] Michel Demaré is currently leading the company on an interim basis.
Former CEOs:
* January 2005 - February 2008: [[Fred Kindle]]
* September 2002 - December 2004: [[Jürgen Dormann]]
* January 2001 - September 2002: [[Jörgen Centermann]]
* January 1997 - December 2000: [[Göran Lindahl]]
* 1987-1996: [[Percy Barnevik]]
The Board of Directors<ref>[http://www.abb.com/cawp/abbzh252/68c4c47db19a56c3c1256b800047fe78.aspx ABB Board of Directors]</ref> is chaired by [[Hubertus von Grünberg]]. He took over the position in May 2007, following the retirement of [[Jürgen Dormann]], who had chaired the board since 2002.
Former Board Members:
* [[Peter Sutherland]]
* [[Donald Rumsfeld]]
==See also==
* [[:de:Brown, Boveri & Cie]]
* [[:de:Maschinenfabrik Oerlikon]]
* [[Combustion Engineering]]
==References==
{{reflist}}
==External links==
*[http://www.abb.com/ Official website]
==See also==
* [[Investor AB]]
* [[List of conglomerates]]
* [[Stromberg (company)]]
{{SMI}}
{{OMX Stockholm 30 companies}}
[[Category:ABB Asea Brown Boveri]]
[[Category:Companies of Sweden]]
[[Category:Companies of Switzerland]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the SWX Swiss Exchange]]
[[Category:Industrial machine manufacturers]]
[[Category:Robotics companies]]
[[Category:Wallenberg Sphere]]
[[Category:Companies formerly listed on the London Stock Exchange]]
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