ABB Asea Brown Boveri
 |
|
| Publicly traded limited company | |
| Traded as |
SIX: ABBN : ABB Nasdaq Stockholm: ABB |
| Industry | Electrical equipment |
| Founded | 1988 through merger of ASEA (1883) of Sweden and Brown, Boveri & Cie (1891) of Switzerland |
| Headquarters | Zürich, Switzerland |
|
Area served
|
Worldwide |
|
Key people
|
Ulrich Spiesshofer (CEO), Peter Voser(Chairman) |
| Products | Power, Automation |
| Revenue |
 US$35.481 billion (2015) |
|
US$3.049 billion (2015) |
|
| Profit |
US$1.933 billion (2015) |
| Total assets |
US$41.356 billion (2015) |
| Total equity |
US$14.481 billion (2015) |
|
Number of employees
|
135,000 |
| Website | www |
ABB (ASEA Brown Boveri) is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland, operating mainly in robotics and the power and automation technology areas. It ranked 158th in the Forbes Ranking (2013).
ABB is one of the largest engineering companies as well as one of the largest conglomerates in the world. ABB has operations in around 100 countries, with approximately 135,000 employees in December 2015, and reported global revenue of $35.5 billion for 2015.
ABB is traded on the SIX Swiss Exchange in Zürich, and the New York Stock Exchange in the United States.
ABB resulted from the 1988 merger of the Swedish corporation Allmänna 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 founded in 1883 by Ludvig Fredholm in Västerås as manufacturer of electrical light and generators. 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 is the world's largest builder of electricity grids and is active in many sectors, its core businesses being in power and automation technologies. The company has one corporate division and four production divisions since reorganization in January 2017. ABB is one of the few large companies that have successfully implemented the matrix structure in their organization.
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Wikipedia