ABB Oy
 |
|
| 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$34.312 billion (2017) |
 US$4.130 billion (2017) |
|
|
US$2.213 billion (2017) |
|
| Total assets |
US$41.356 billion (2015) |
| Total equity |
US$14.481 billion (2015) |
|
Number of employees
|
134,800 |
| Website | www |
ABB (ASEA Brown Boveri) is a Swedish-Swiss multinational corporation headquartered in Zurich, Switzerland, operating mainly in robotics, power, heavy electrical equipments, and automation technology areas. It is ranked 286th in The World's Most Admired companies in the Fortune 500 global list of 2016. ABB has been a global Fortune 500 company for 23 years.
ABB is traded on the SIX Swiss Exchange in Zürich, and the in the United States.
ABB's history goes back to the late 19th century. Allmänna Svenska Elektriska Aktiebolaget (General Swedish Electrical Limited Company, 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 was created as the result of the merger of the Swedish corporation ASEA and the Swiss company Brown, Boveri & Cie (BBC) in 1988. The latter had acquired Maschinenfabrik Oerlikon in 1967. The former CEO of ASEA, Percy Barnevik ran the company until 1996.
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.
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Wikipedia