Stal-Laval
 |
|
| 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$33.828 billion (2016) |
 US$3.060 billion (2016) |
|
| Profit |
US$1.963 billion (2016) |
| Total assets |
US$41.356 billion (2015) |
| Total equity |
US$14.481 billion (2015) |
|
Number of employees
|
132,000 |
| 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 as the 286th largest company by revenue for 2016 in the Fortune Global 500 list.
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 132,000 employees in December 2016.
ABB is traded on the SIX Swiss Exchange in Zürich, and the New York Stock Exchange in the United States.
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 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.
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