Ib CIA(Abb Group)

Introduction

TypePublic (SIX: ABBN, NYSE: ABB, OMX: ABB)

Industry Power technology, Industrial automation

Founded1988 through merger of ASEA (1883) of Sweden and Brown, Boveri & Cie (1891) of Switzerland

Headquarters Zürich, Switzerland

Area served Worldwide

Key peopleJoe Hogan (CEO), Hubertus von Grünberg (Chairman of the board)

Revenue ▼ US $31.80 billion (2009)[1]

Operating income ▼ US $4.126 billion (2009)[1]

Profit ▼ US $2.901 billion (2009)[1]

Total assets ▲ US $34.73 billion (2009)[1]

Total equity ▲ US $14.47 billion (2009)[1]

Employees ▼ 117,000 (2009)[1]

Website www.abb.com

ABB is a Swiss-Swedish 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 conglomerates in the world. ABB has operations in around 100 countries, with approximately 117,000 employees, and reported global revenue of $31.8 billion for 2009

ABB is traded on the SIX Swiss Exchange in Zürich and the Stockholm Stock Exchange in Sweden since 1999, and the New York Stock Exchange in the United States since 2001

History

The history of ABB goes back to the late nineteenth century, and is a long and illustrious record of innovation and technological leadership in many industries.

Having helped countries all over the world to build, develop and maintain their infrastructures, ABB has in recent years gone over from large-scale solutions to alternative energy and the advanced products and technologies in power and automation that constitute its Industrial IT offering.

ABB resulted from the 1988 merger of the corporations ASEA (Allmänna Svenska Elektriska Aktiebolaget, Swedish) and Brown, Boveri & Cie (Swiss); 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.

ASEA was incorporated by Ludwig Fredholm in 1883 and 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.

Mission and vision 2011 ABB's mission

Improve performance: ABB helps customers improve their operating performance, grid reliability and productivity whilst saving energy and lowering environmental impact.

Drive innovation: Innovation and quality are key characteristics of our product, systems and service offering.

Attract talent: ABB is committed to attracting and retaining dedicated and skilled people and offering employees an attractive, global work environment.

Act responsibly: Sustainability, lowering environmental impact and business ethics are at the core of our market offering and our own operations.

ABB's vision

As one of the world’s leading engineering companies, we help our customers to use electrical power efficiently, to increase industrial productivity and to lower environmental impact in a sustainable way. Power and productivity for a better world

Financial Highlights

Key figures for year ended Dec. 31 (US dollar amounts in millions except per-share and % data)

2009 2008

Orders received 30,969 38,282Revenue 31,795 34,912Earnings before interest and taxes (EBIT)

4,126 4,552

EBIT margin 13.0% 13.0%Net income 2,901 3,118Stockholders' equity (Dec. 31)

13,790 11,158

Total assets 34,728 33,181Capital expenditure 931 1,077Cashflow from operations 4,027 3,958Number of employees 117,000 120,000Basic earnings per shareNet income 1.27 1.36

ManagementOn July 17, 2008, the Board of Directors of ABB Ltd. announced the appointment of Joe Hogan as Chief Executive Officer of the ABB Group beginning on September first. Mr. Hogan is the former head of GE Healthcare Mr. Hogan holds a Bachelor of Science degree in Business Administration from Geneva College and an MBA from Robert Morris University, both located in Pennsylvania.

Former CEOs:

September 2008–present: Joe Hogan February 2008 - September 2008: Michel Demaré - ad interim January 2005 - February 2008: Fred Kindle September 2002 - December 2004: Jürgen Dormann January 2001 - September 2002: Jörgen Centerman January 1997 - December 2000: Göran Lindahl 1987-1996: Percy Barnevik

Chairman of the Board

The Board of Directors[15] 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 (1990–2001)

Competition In INDIALast Price Market Cap.

(Rs. cr.)Sales

TurnoverNet Profit Total Assets

ABB 874.00 18,520.79 6,291.44 354.64 2,423.75

Crompton Greave 267.00 17,127.82 5,283.99 617.34 1,791.50

Havells India 649.40 3,907.34 2,487.27 227.10 1,004.61

Techno Electric 274.85 1,569.15 627.34 102.27 269.83

HBL Power 32.50 822.25 1,109.51 100.42 752.64

Bharat Bijlee 1,240.95 701.33 656.01 41.22 252.30

Emco 79.50 492.32 978.55 133.80 795.72

Honda Siel 450.00 456.44 310.55 12.69 194.41

Numeric Powe 374.00 377.96 409.24 33.46 177.51

Easun Reyrl 113.70 236.17 217.46 55.72 389.37

Products & Services

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 five production divisions since reorganisation in January 2010.

Power ProductsPower Products are the key components to transmit and distribute electricity. The division incorporates ABB's manufacturing network for transformers, switchgear, circuit breakers, cables and associated equipment. It also offers all the services needed to ensure products' performance and extend their lifespan. The division is subdivided into three business units.

Power SystemsPower Systems offers turnkey systems and services for power transmission and distribution grids, and for power plants. 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.

Discrete Automation and MotionThis division provides products, solutions and related services that increase industrial productivity and energy efficiency. Its motors, generators, drives, programmable logic controllers (PLCs), power electronics and robotics provide power, motion and control for a wide range of automation applications.The leading position in wind generators and a growing offering in solar complement the industrial focus, leveraging joint technology, channels and operations platforms.

Low Voltage ProductsThe Low Voltage Products division manufactures low-voltage circuit breakers, switches, control products, wiring accessories, enclosures and cable systems to protect people, installations and electronic equipment from electrical overload. The division further makes KNX systems that integrate and automate a building's electrical installations, ventilation systems, and security and data communication networks.

Process AutomationThe main focus of this ABB business is to provide customers with products and solutions for instrumentation, automation and optimization of industrial processes. The industries served include oil and gas, power, chemicals and pharmaceuticals, pulp and paper, metals and minerals, marine and turbocharging. Key customer benefits include improved asset productivity and energy savings.

Corporate Responsibility: Seeking higher standards

ABB is committed to maintaining high social, environmental, ethical and governance standards for the benefit of all stakeholders. Corporate responsibility reflects the company’s values and behavior to its stakeholders.

The company has several policies and standards in place to underpin those core values, covering business ethics and governance, the Code of Conduct, and polciies such as the Group Social and Human Rights policies. These are all supported by internal Group directives and instructions.

There are many stakeholders impacted by corporate responsibility, ranging from employees and subcontractors to customers, suppliers and communities where ABB has operations.The company recognizes the importance of wide-ranging stakeholder engagement to help it achieve best practice and sustainable benefit for stakeholders.

One of the core areas of corporate responsibility is Human Rights. ABB is seeking to raise its standards, and increase its understanding and mitigation of Human Rights risk. A Human Rights policy and public statement were approved in 2007, complementing existing policies for raising social, environmental, health and safety and business ethics performance.

Another area of focus is corporate citizenship initiatives in which ABB supports communities where it operates or remote communities in India and Tanzania in the case of its rural electrification program "Access to Electricity."

ABB seeks to be a “good corporate citizen.” Constant effort, vigilance and high levels of awareness are needed to raise standards which are consistent everywhere, even in difficult environments. This is work in progress.

Awards received

During 2009, ABB received awards in 14 countries for its sustainability achievements. The programs awarded ranged from environment, health and safety leadership to corporate health, environmental management and corporate social responsibility. ABB also achieved certifications related to energy efficiency programs in a further two countries.

ABB in China was ranked in the “2009 Multinational Corporations Contribution in China Award List” for the second consecutive year and received the “2009 Multinational Corporations Contribution in China Special Award” for its sustained efforts in corporate social responsibility. These efforts include support for education, environmental protection, and social welfare, benefiting broad sections of society, including the elderly, the handicapped, the impoverished, university students and urban residents.

In Germany, ABB's health management system, Fit for Life, won the national Corporate Health Award 2009. A panel of experts selected the winners based on an analysis of quantitative and qualitative data from an annual health management survey of companies in Germany. The Fit for Life program, launched in 2007 at most ABB locations in Germany, includes regular medical checkups and support for a range of preventive measures.

ABB won the European Motor Challenge Award 2009 in the Endorser category, awarded by the European Commission during the sixth International Conference on Energy Efficiency in Motor Driven Plants, held in Nantes, France. The award recognized the contribution of ABB, and in particular the contributions of ABB's Automation Products division in Italy, to the European Commission’s Motor Challenge program, which was launched in 2003 to help companies improve energy efficiency in their motor-driven systems.

Major acquisitions, joint ventures and divestments

Below you find a list of the major acquisitions, joint ventures and divestments from 2006 to date.

2010Acquisitions Press Release

May 5 ABB acquires Ventyx to strenghten its network management business

2009Acquisitions Press Release

January 8 ABB acquires full ownership of Finnish joint venture

May 28 ABB expand transformer components portfolio

2008Acquisitions Press Release

November 12 ABB expands offering for oil and gas sectorJuly 16 ABB to acquire Kuhlman Electric

Corporation from The Carlyle GroupMay 5 ABB acquires New Zealand business to

expand power electronics portfolio

2007Divestments Press Release

November 19 ABB completes sale of Lummus GlobalMarch 6 ABB sells building systems business in

GermanyFebruary 6 ABB sells stakes in power projects in

Morocco and India

2006No major acquisitions or divestments

Timeline since 1987- 2007 *All the contents below also include every major achievements, merger and diversifications that happened in ABB Groups.

Feb. 15, 2007: ABB reports record profit margin

ABB Group reports 2006 net income rose 89 percent to $1.39 billion, compared with $735 million a year

earlier. Earnings before interest and taxes (EBIT) increased 45 percent to $2.59 billion and the EBIT margin,

or EBIT as a percentage of revenues, rose to a record 10.6 percent.

Feb. 2, 2007: ABB starts Lummus Global divestment process

ABB Group announces it will seek to divest its downstream oil and gas business, ABB Lummus Global. ABB

sold its upstream oil and gas business – ABB Vetco Gray – in 2004. ABB emphasizes its intention to support

the oil and gas sector with its core automation and power technology businesses.

Jan. 1, 2007: Peter Leupp and Diane de Saint Victor join Executive Committee

Peter Leupp, formerly country manager of ABB in China, joins the Group Executive committee as head of the

Power Systems division. Diane de Saint Victor joins ABB as general counsel from the European Aeronautic

Defence and Space Company (EADS). She is ABB's first general counsel to sit on the Executive Committee,

reflecting the importance ABB places on excellence in legal and compliance matters.

Dec. 18, 2006: ABB wins $450 million substation order in Qatar

ABB wins a $450 million order from the Qatar General Electricity and Water Corporation for new substations

to support the country’s rapid growth by expanding its power transmission system. It is the biggest

transmission and distribution substation order ABB has ever received.

Dec. 4, 2006: ABB delivers European power link in record time

ABB celebrates the inauguration of Estlink, a high-voltage direct current (HVDC) powerlink, joining the grids

of Estonia and Finland to improve the reliability and efficiency of electricity supplies in Europe. ABB

pioneered HVDC technology.

Sept. 18, 2006: ABB wins $215 million contract to boost oil output in Algeria

ABB wins an order worth $215 million for pumping stations and automation systems to boost oil output from

the Algerian oil and gas company, Sonatrach. This follows a $210-million contract awarded to ABB earlier in

the month, by the same company, for the expansion of existing compressor and power systems to boost natural

gas output and exports.

Aug. 31, 2006: U.S. District Court affirms Lummus Chapter 11 Plan of Reorganization

A Plan of Reorganization to settle claims against another U.S. subsidiary, ABB Lummus Global Inc., becomes

final, drawing a line under the uncertainty surrounding the company’s asbestos liabilities.

March 31, 2006: Asbestos plan finalized for ABB subsidiary in U.S.

ABB's Plan of Reorganization to settle asbestos liabilities against Combustion Engineering, a U.S. subsidiary,

becomes final.

Feb. 16, 2006: ABB posts $735 million net profit for 2005

ABB reports 2005 net income of $735 million, its first full-year profit in five years.

Dec. 19, 2005: U.S. Bankruptcy Court confirms plan of reorganization for Combustion Engineering

The U.S. Bankruptcy Court in Pittsburgh, Pennsylvania issues an order confirming the revised plan of

reorganization for ABB's U.S. subsidiary, Combustion Engineering (CE), and recommends affirmation of the

plan to the District Court.

Nov. 17, 2005: ABB wins $220 million Gulf Grid order

ABB wins a contract from the Gulf Cooperation Council Interconnection Authority (GCCIA) for phase one of

the massive Gulf Grid project, linking the electricity networks of six Gulf states.

Oct. 28, 2005: Q3 results rise sharply on operational improvements and stronger markets

ABB's orders, revenues and earnings before interest and taxes (EBIT) rose sharply in the third quarter of 2005

compared to the previous year as a result of operational improvements and buoyant markets.

Sept. 27, 2005: Ulrich Spiesshofer ABB's new head of Corporate Development

ABB appoints Ulrich Spiesshofer to the newly-created position of head of corporate development and member

of the Group's Executive Committee.

May 11, 2005: Peter Terwiesch appointed ABB's new Chief Technology Officer

ABB appoints Peter Terwiesch as the group's new chief technology officer, taking over from Markus Bayegan

who retired. Terwiesch was head of technology for ABB's automation division, and also led the process

automation business in Germany

Feb. 4, 2005: ABB wins bid for underground power link between Estonia and Finland

ABB will design, build and install a new link connecting the power grids of Finland and Estonia. ABB's

unique HVDC Light technology will help expand the trans-European power network.

Dec. 23, 2004: ABB to build the world's longest underwater power transmission link

ABB announces plans to build the NorNed project, a high-voltage direct current (HVDC) transmission link

connecting the power grids of Norway and The Netherlands. The 580 kilometer-long NorNed link will be the

longest underwater high-voltage cable in the world.

Nov. 1, 2004: ABB appoints new Chief Financial Officer

ABB appoints Michel Demaré, CFO of the European operations of Baxter International, as Chief Financial

Officer and member of the Group Executive Committee, effective February 1, 2005.

Oct. 25, 2004: ABB announces new China strategy

ABB chairman and CEO Jürgen Dormann announces ABB's China strategy, which includes plans to hire 5,000

new employees and double orders and revenues by 2008.

June 14, 2004: ABB wins $390 million order for major Chinese power link

ABB said today it has signed an order worth $390 million to build a key power link from the Three Gorges

hydropower plant in central China to the coastal city of Shanghai.

Feb. 27, 2004: Fred Kindle becomes ABB's new CEO

ABB appoints Fred Kindle as the group's new chief executive, effective January 2005. Kindle, the former chief

executive of Swiss-based technology concern, Sulzer AG, joined ABB on September 1, 2004 and became

president and CEO in January 2005.

Jan. 16, 2004: ABB agrees to sell upstream Oil, Gas and Petrochemicals business ABB finalizes the

agreement to sell the upstream part of its Oil, Gas and Petrochemicals division to a company formed by a

private equity investors' consortium of Candover Partners Ltd, 3i and JPMorgan Partners. The sale closed on

July 14, 2004 for $925 million.

Dec. 9, 2003: ABB sells reinsurance business for $425 million

ABB says it has agreed to sell its reinsurance business (Sirius) to White Mountains, the Bermuda-based

insurance holding company, for a cash price of 3,220 million Swedish Kronor (about US$ 425 million at

December 1 exchange rate).

Nov. 20, 2003: ABB shareholders approve share capital increase expected to raise about $2.5 billion

ABB shareholders approve a share capital increase expected to raise about US$ 2.5 billion, at an extraordinary

general meeting held in Zurich.

Oct. 27, 2003: ABB announces capital strengthening program

ABB announces a broad program to strengthen its capital and financing structure. The program comprises a

proposal to issue new shares worth the equivalent of approximately $2.5 billion, a newly agreed $1 billion

bank credit facility and the launch of a new bond.

July 29, 2003: ABB reports solid progress in Q2

A strong performance by ABB's core Power and Automation Technologies divisions lifted the company's

second-quarter earnings before interest and taxes by 14 percent (11 percent in local currencies). Operating cash

flow from the core divisions improved and the company again lowered costs while increasing margins.

July 28, 2003: ABB outsources information systems to IBM

ABB and IBM announce a ten-year agreement to outsource close to 90 percent of ABB's information systems

infrastructure operations - including the transfer to IBM of more than 1,200 employees.

July 4, 2003: ABB sells Nordic Business Systems for $233 million

ABB says it has agreed to sell its Building Systems business in Sweden, Norway, Denmark, Finland (including

Russia and the Baltics) to YIT Corporation of Helsinki, Finland, for about US$ 233 million (Euro 203 million).

May 16, 2003: Shareholders approve amendments to articles of incorporation

At the group’s annual general meeting, ABB shareholders approved amendments of its articles of

incorporation providing for authorized share capital and an extension in contingent share capital. They also

approved the nomination of two new board members

April 29, 2003: Core divisions sustain growth in Q1

ABB's core divisions Power Technologies and Automation Technologies improved both revenues and earnings

in the first quarter of 2003, sustaining the positive trend established in 2002.

April 14, 2003: ABB appoints two new board members

ABB nominates two new board members for election at its annual general meeting (AGM) on May 16, 2003,

They are Louis R. Hughes, 54, a U.S. citizen, who is a retired executive vice president of General Motors

Corporation, and Michael Treschow, 59, chairman of Ericsson, a Swedish citizen.

Feb. 27, 2003: Group 2002 annual results: strong performance by core divisions

ABB's core divisions, Power Technologies and Automation Technologies, show a strong performance in 2002,

but the ABB Group reports a net loss for the full-year as a result of asbestos charges and losses in discontinued

operations.

Jan. 17, 2003: Shareholders approve amendments to articles of incorporation

At the group’s annual general meeting today, ABB shareholders approved amendments of its articles of

incorporation providing for authorized share capital and an extension in contingent share capital.

Jan. 17, 2003: Pre-packaged bankruptcy plan for Combustion Engineering announced

ABB and its U.S. subsidiary Combustion Engineering (CE) announce they had agreed a pre -packaged

bankruptcy plan for CE with representatives of asbestos plaintiffs, a significant milestone in the process to

resolve CE’s asbestos liability.

Oct. 24, 2002: ABB streamlines divisional structure

As part of a drive to lower its cost base, ABB combines core businesses into two divisions, Power

Technologies and Automation Technologies. The Oil, Gas and Petrochemicals division is kept as a separate

unit, and the Group Processes division is dissolved. The Executive Committee is reduced from eight to six

members.

Sept. 18, 2002: ABB sells metering business for $244 million

ABB sells its metering business to Ruhrgas Industries GmbH of Essen, Germany, for US$ 244 million on a

cash and debt-free basis. The sale is part of ABB’s strategy to focus on power and automation technologies.

Proceeds are to be used to further reduce debt.

Sept. 5, 2002: ABB Board of Directors appoints Jürgen Dormann president and CEO

Jürgen Dormann, Chairman of the Board, assumes operational leadership of the ABB Group, aiming to speed

up effective implementation of the company strategy. Dormann says that under his leadership, ABB will

continue to concentrate on its core activities in the fields of power and automation technologies.

Sept. 4, 2002: Structured Finance business sold to GE Commercial Finance for $2.3 billion

ABB signs an agreement to sell most of its Structured Finance business to GE Commercial Finance for total

cash proceeds, including equity and debt, of about US$ 2.3 billion. ABB’s net debt is to be cut by the same

amount.

July 23, 2002: Recovery continues as orders rise in second quarter

A recovery in orders witnessed in the first quarter continues into the second with four divisions increasing their

earnings. Orders from large customers grow 16 percent and the company predicts a stronger second half. First-

half EBIT is US$ 368 million after US$ 185 million in restructuring costs, asset write-downs and charges Net

income is US$ 101 million, compared to US$ 266 million in first half 2001

July 22, 2002: ABB wins $987 million oil and gas order in Russia's Far East

Exxon Neftegas Limited awards ABB a contract worth US$ 987 million to develop onshore oil and gas

processing and well-site support facilities on Russia's Sakhalin Island. ABB plans to sub-contract most of the

work to Russian companies, and says its experience of working in harsh climatic conditions and delivering

large projects in Russia helped it win the contract.

July 2, 2002: ABB certifies 10,000 products to new standard

ABB certifies 10,000 products to IndustrialIT, its new industrial information technology standard. By the end

of 2002 the company plans to certify all 40,000 ABB products and product groups. At the end of 2001 900

products were IndustrialIT-certified and, in February 2002, 3,000.

May 3, 2002: ABB signs $330 million Statoil contract

ABB signs a US$ 330 million contract with Statoil of Norway for the maintenance and modification of six

offshore oil and gas platforms in the North Sea, as well as the onshore Kollsnes processing plant.

April 24, 2002: ABB's operational and financial restructuring on track

Net income for the first quarter of 2002 is US$ 114 million, compared with US$ 138 million in the same

period last year. Its first quarter EBIT margin (4.5 percent) is in line with the 2002 target. And operational cash

flow, at US$ -138 million, is stronger than in the first quarter of 2001 (US$ -217 million).

March 18, 2002: ABB wins $30 million contract from Algeria’s national power company

ABB, the global power and automation technology group, said today it has won a US$ 30 million contract

from Algeria’s national power company Société Nationale d'Electricité et du Gaz (Sonelgaz) to install five new

electricity load dispatch centers and a related IT system.

They are scheduled to start operation in early 2004.

Feb. 18, 2002: ABB opens R&D center in India

ABB opened a research and development center in Bangalore to focus on software development and Industrial

IT. With Industrial IT, ABB is integrating its entire power and automation technology offerings to enable

utility or industry customers to make their installations more productive. In 2001, ABB had revenues of US$

2.7 billion in Asia, the same level as in 2000. It had 11 percent of its employees working in the region. The

new ABB center, a fully-owned subsidiary located in the International Technology Park (ITPL) in Bangalore,

will initially bring together 30-50 industrial software programmers and engineers.

Feb. 13, 2002: ABB reports $691 million net loss for 2001

ABB today reported a US$ 691 million net loss for 2001, after an increase in provisions for asbestos liabilities,

a change in the calculation method for some reinsurance reserves, asset write-downs, and costs and provisions

for project losses. In local currencies, orders remained stable and revenues increased. EBIT fell to US$ 279

million from US$ 1,385 million in 2000.

Revenues increased 3 percent to US$ 23,726 million, or 8 percent in local currencies. The order backlog

declined by 9 percent to US$ 13,471 million, or 4 percent in local currencies, compared to year-end 2000.

Jan. 30, 2002: ABB takes $470 million charge against 2001 earnings

ABB takes a US$ 470 million charge against 2001 earings to increase its provisions for the U.S. asbestos

claims. The claims come from Combustion Engineering, a subsidiary in the United States, With the charge,

ABB is increasing its total asbestos provisions from US$ 590 million at the end of 2000 to about US$ 940

million. The number of new claims filed against Combustion Engineering increased from 39,000 in 2000 to

55,000 in 2001. The asbestos liabilities in the U.S. come from claimed exposure to asbestos in products

supplied before the mid-1970s by Combustion Engineering, a company ABB acquired in 1990.

Jan. 28, 2002: ABB wins $165 million contract expand ethylene plant in Poland

ABB said today it has won a US$ 165 million contract to expand an ethylene plant in Poland, a project that

will substantially increase the country’s ethylene and propylene production. ABB will revamp the 21-year-old

plant located in Plock, approximately 100 kilometers from Warsaw. New technology will increase PKN’s

ethylene production from 360,000 metric tons per annum (MTA) to 660,000 MTA and propylene production

from 130,000 MTA to 315,000 MTA. ABB is considered the leading provider of ethylene technology with

about 40 percent of the world’s ethylene capacity. The work is slated for completion at the end of 2004.

Jan. 4, 2002: ABB sells 90-percent of shares in b-business partners for $166 million

Investor AB has increased its position in b-business partners, a pan-European venture capital company, by

acquiring 90 percent of ABB’s shares and capital commitments. As a result of the transaction, ABB received

US$ 166 million. Investor's share of paid in capital and future commitments will now be approximately 75

percent. This transaction is in line with Investor AB’s strategy to further strengthen its position in the European

venture capital market, and ABB’s strategy of focusing on its core businesses in power and automation

technologies.

Dec. 21, 2001: ABB sells railway electrification business for $38 million

ABB said that it is selling its railway electrification project business (overhead contact line) to Balfour Beatty

Plc for US$ 38 million as part of its strategy to focus on its core areas of power and automation technologies

for utilities and industry. The business unit is expected to report revenues of some US$ 90 million in 2001.

Dec. 21, 2001: ABB wins $32 million contract from ThyssenKrupp Steel

In one of its largest Industrial IT projects to date, ABB wins a $32-million contract from ThyssenKrupp Steel

AG to act as general electrical contractor for a new coking facility at a plant at Duisburg Schwelgern in

Germany’s Ruhr area. Industrial IT will measure and control manufacturing, safety and environmental

processes at the plant.

Dec. 10, 2001: ABB sells air handling business for $225 million

ABB sells its air handling equipment business to Global Air Movement (Luxembourg) SARL for US$ 225

million, as part of its strategy to focus on power and automation technology products, systems and solutions

for utilities and industry. Global Air Movement (Luxembourg) SARL is a company formed on behalf of

Compass Partners European Equity Fund L.P., management and other investors. The air handling business

reported revenues of around US$ 440 million in 2000.

Dec. 7, 2001: ABB leads $65 million consortium building power line on Java

A consortium led by ABB signed a contract worth about US$ 65 million with the Indonesian state electricity

supplier PT-PLN (Persero) to build a 309-kilometer power line on the main island of Java. ABB’s portion of

the contract is worth about US$ 32 million. The line is part of the extension of the 500 kV ultra-high voltage

grid linking new power plants in eastern Java to the cities of Jakarta, Bandung and Yogyakarta. ABB will lead

a group of consortium partners and subcontractors, and provide engineering, design, project management,

supply management and logistics for a project that will involve 4,000 workers in more than 750 construction

sites.

Nov. 27 2001: ABB wins five-year, $36 million contract from Statoil

ABB won a US$ 36 million, five-year contract with Norwegian oil company Statoil for the maintenance and

modification of a gas treatment plant in Norway and platforms in the North Sea.

Nov. 14, 2001: ABB streamlines R&D to focus on software and Industrial IT

ABB streamlines its research and development to focus on technologies that increase productivity and

sustainability for utility and industry customers, especially growth areas linked to its broad initiative called

industrial information technology, patented as Industrial IT. In Europe, the shift in focus is coupled with a

decrease from 760 to 550 scientists in Group R&D labs. In the United States and Asia, Group R&D staffing

will grow from 25 to 100 scientists in the new technology areas.

Nov. 1, 2001: ABB wins $23 million contract to modify platform for Statoil

ABB announces a US$ 23 million contract from Statoil of Norway to modify the Sleipner A platform in the

North Sea. The modifications will connect Sleipner A to oil and gas recovered from the new Sigyn field.

Oct. 29, 2001: ABB-led consortium wins $30 million order for energy storage system in Alaska

An ABB-led consortium wins a $30 million order from Golden Valley Electric Association Inc (GVEA) in

Fairbanks, Alaska, for the supply, installation and project management of the world’s largest Battery Energy

Storage System (BESS). The energy storage system includes a massive nickel-cadmium battery, power

conversion modules, metering, protection and control devices and service equipment. It will provide

continuous voltage support during normal operation, as well as energy back-up - known as ‘spinning reserve’ -

to quickly provide power during system disturbances, minimizing customer interruptions.

Oct. 24, 2001: ABB reports improved operating performance

ABB reports financial results for first nine months of 2001. Revenues rose 9 percent and earnings before

interest and taxes (EBIT) – excluding one-time capital gains – increased 15 percent in local currencies. But

seeing a decline in orders, ABB also said it will accelerate its cost-cutting program and accelerate plans to cut

12,000 jobs. Orders decreased 8 percent to US$ 17,863 million. Revenues increased to US$ 16,877 million, up

4 percent in nominal terms. Excluding one-time capital gains, EBIT increased 9 percent to US$ 763 million

compared to the first nine months of 2000.

Oct. 12, 2001: ABB wins $360 million order for Chinese power line

ABB won a US$ 360-million order to build a high-voltage direct current (HVDC) power transmission system

linking hydropower plants in central China to Guangdong province. The contract was awarded by the State

Power Corporation of China, ABB will design and build a 3,000-megawatt link delivering power to the

industrial region of Guangdong 940 kilometers away. The project is the second major order in China in two

years, and further evidence of ABB’s desire to support Chinese economic development by offering advanced

technological solutions.

Oct. 11, 2001: ABB tops sustainability index for third year in a row

ABB is ranked number one in corporate sustainability by the Dow Jones Sustainability Index (DJSI), topping

the electric components and equipment industry group for the third year in a row.

Sept. 24, 2001: ABB wins $44 million order to upgrade Chicago’s power grid

ABB won a US$ 44 million turnkey order from Commonwealth Edison (ComEd), one of the largest electric

utilities in the United States, to build a new substation to meet growing demand for power in downtown

Chicago. ABB’s scope of supply includes conceptual design, civil engineering, equipment supply, installation

and commissioning of the De Koven substation, which is scheduled for completion and start-up in May 2002.

Sept. 19, 2001: ABB awarded wellhead platform project

ABB, in partnership with Heerema of Holland, is awarded a contract by Esso Exploration Angola (Block 15)

Limited (Esso) - a subsidiary of ExxonMobil Corporation - to design, build and commission a deepwater

tension leg platform for the Kizomba A Project located in the deepwater Block 15 offshore Angola.

Sept. 5, 2001: ABB wins $95-million in orders to build and operate offshore oil production units

ABB won two orders from Bergesen d.y. Offshore, the Norway-based floating production contractor, to build

and operate the oil processing systems on two floating production, storage and offloading (FPSO) units. The

value of the order is US$ 95 million. One of the FPSOs, “Berge Hus,” is expected to be ready for operation in

January 2002 and will be able to process 160,000 barrels of liquids per day. The second FPSO, “Berge

Helene,” will have a production capacity of 60,000 barrels of oil per day and is expected to be ready for

operation during the summer of 2002.

Aug. 23, 2001: ABB buys Mexican drilling and production equipment company

ABB acquired FIP S.A., a leading supplier of pressure containing equipment for oil and gas production in

Mexico, based in Mexico City. The company employs 450 people and supplies wellheads and gate valves used

in oil and gas wells to customers around the world. ABB intends to market FIP products and services

worldwide. ABB is acquiring FIP S.A. from Walworth de Mexico S.A. The terms of the purchase were not

disclosed.

Aug. 13, 2001: ABB wins $93 million contract to build gas compressor linking Algeria and Europe

ABB announced it has been awarded a contract worth US$ 93 million to design and build a gas compressor

station linking Algeria and Europe. The SC3 compressor station will be built on the Pedro Duran Farell

Pipeline, a 1,400 kilometer gas line connecting Algeria to Europe through a link under the Straits of Gibraltar.

It will increase the pipeline’s flow rate from 8 billion to about 11 billion cubic meters of gas per year. The

pipeline is owned and operated by the state-run oil and gas company, Sonatrach.

July 24, 2001: ABB cites difficult markets – revises outlook, initiates cost reduction program

ABB said it would cut 12,000 jobs – eight percent of its workforce – over the next 18 months to counter

difficult market conditions. Revenues were flat, at US$ 11 million but up 7 percent in local currencies for the

first half of 2001. Earnings before interest and taxes were down 21 percent, to US$ 626 million compared to

the first half of 2000.

July 19, 2001: ABB wins $17 million contract for power line in Laos

ABB won a US$ 17-million contract to design and build a 340-kilometer power transmission line in Laos. The

project, slated to be completed in two years, also includes a 282-kilometer power distribution network, is part

of an ongoing initiative to upgrade Laos’ rural electrical infrastructure.

June 28, 2001: ABB opens office in Pyongyang

ABB officially opens an office in Pyongyang, the capital of the Democratic People’s Republic of Korea

(DPRK), solidifying an agreement signed in November 2000 to help improve the performance of the country’s

electricity transmission network and basic industries.

June 19, 2001: ABB wins $70 million contract to upgrade pipeline in Algeria

ABB won a US$ 70-million contract to upgrade a key oil pipeline in Algeria. The company will upgrade the

290-kilometre line owned and operated by state-run oil and gas company Sonatrach, to increase capacity from

17 to 23 million barrels per year. The pipeline links the Hassi Berkine oil field with the dispatching terminal of

Haoud El Hamra, located in the Berkine Basin, approximately 1,000 kilometers southeast of Algiers. The

project is slated for completion in less than two years.

June 13, 2001: ABB wins contracts worth $300 million for two high-voltage power systems

ABB wins contracts worth about US$ 300-million to design and build two high-voltage power transmission

systems with a combined length of nearly 1,300-kilometers to help satisfy the steadily increasing demand for

energy in Brazil. ABB will design, procure and construct all transmission line components, including six 500

kilovolt substations and reactive power compensation equipment. Many of the projects’ components will be

manufactured at ABB plants in São Paulo and Minas Gerais.

May 31, 2001: ABB and Dow sign ten-year, global strategic agreement

ABB and The Dow Chemical Company signed a 10-year, global strategic agreement to infuse Dow’s plants

with a new generation of ABB Industrial IT technologies to link operations and enhance productivity. The

Dow Chemical Company has annual sales of US$30 billion

May 15, 2001: Norsk Hydro awards ABB a two-year, $110 million contract

Norsk Hydro, the Norwegian energy resource group, has awarded ABB a two-year, US$ 110 million contract

to continue maintaining and modifying oil and gas installations in the North Sea. ABB’s frame agreement with

Norsk Hydro was originally signed in 1994. The contract was the first of its kind on the Norwegian shelf and

marked a change in maintenance philosophy, wherein oil companies started outsourcing more of their regular

work to a single partner. Today, most of the maintenance and modification work on the Norwegian shelf is

regulated through contracts like these.

April 9, 2001: ABB launches bid to acquire Entrelec

ABB launched a bid to acquire the French company Entrelec, a Lyon-based supplier of industrial automation

and control products. The value of the bid on a fully diluted basis is approximately €310 million. The

acquisition is aimed at expanding ABB’s automation technology product range and reinforcing its position in

key European and American markets. ABB later obtains 4,789,183 shares, representing 99.1 percent of the

outstanding share capital of Entrelec Group on a fully diluted basis, and 99.1 percent of the voting rights.

April 6, 2001: ABB lists shares on the New York Stock Exchange

ABB lists its shares on the New York Stock Exchange, saying the move was aimed at supporting the

company’s growth strategy. ABB's U.S. operations already employ more than 16,000 people in 40 states.

In late March, ABB launched a program to buy back six million shares for cancellation. Shareholders endorsed

the buy-back of two percent of ABB’s total share capital at the annual general meeting of ABB Ltd in Zurich,

Switzerland. A share-split program approved at the meeting takes affect on May 7, 2001.

March 23, 2001: ABB wins five-year, $250 million oil and gas contract from BP

ABB is awarded a five-year, US $250 million contract to supply well system equipment to the Gulf of Mexico

deepwater development programs of petroleum and petrochemicals group BP. The contract includes an option

to extend to ten years. The scope of the order includes subsea wellhead equipment, drilling and production

risers, and surface wellheads and trees for BP’s deepwater development program. The equipment will be

manufactured and tested at ABB facilities in Houston, Texas.

March 22, 2001: ABB wins $180 million order for subsea system offshore Nigeria

ABB maintains its leading market position in West Africa by announcing a US$ 180 million order to deliver

the subsea production system for the Bonga development project currently underway 120 kilometres offshore

Nigeria. The equipment will be installed in a water depth of up to 1,200 meters. The first subsea equipment

delivery will be in 15 months. Equipment delivery will continue until mid 2009. ABB is also constructing a

new US$ 2 million subsea operations base in the Onne free port in Nigeria as part of the project.

March 20, 2001: ABB shareholders approve share split

Shareholders in ABB Ltd approved a 4-to-1 share split to improve the liquidity and marketability of the

company’s shares.

March 14, 2001: ABB wins $60 million order from National Grid

ABB won an order worth US$ 60 million from National Grid, the private U.K. power utility, for a 20-

kilometer high-voltage underground power cable to link two substations in London. The project is part of

National Grid’s program to upgrade part of the London power grid. ABB will manufacture, install,

commission and test the cable. The project is scheduled for completion before the end of 2004.

Feb. 5, 2001: ABB wins $34 million order to improve power supply to London Underground

ABB wins a US$ 34-million order to improve the power supply to the London Underground, allowing the

transit authority to replace electricity from an old power station with electricity from sophisticated and clean

power sources. The London Underground order is part of a larger project to overhaul the area’s power

distribution network, including cabling and switching.

Jan. 30, 2001: ABB buys Eutech in the U.K.

ABB buys Eutech Engineering Solutions Ltd, the international engineering consultancy subsidiary of ICI

Group of the U.K. Financial details were not disclosed. Eutech supplies a range of consulting services in

manufacturing operations and engineering, including project implementation and management, to more than

150 chemicals, petrochemicals and pharmaceuticals customers worldwide. ABB’s strength in these areas is

given a major boost.

Jan. 11 2001: ABB reorganizes around customers

ABB becomes the first industry to organize around customers rather than technologies. Its worldwide

enterprises are now centred around four customer groups to boost growth in a business environment of

globalization, deregulation, consolidation and eBusiness. The four end-user division are Utilities, Process

Industries, Manufacturing and Consumer Industries, and Oil, Gas and Petrochemicals. The two channel partner

divisions Power Technology Products and Automation Technology Products cover all generic product needs

within the ABB Group. Jörgen Centerman also took over as President and CEO on January 1. A new business

area, New Ventures Ltd., was created to act as an incubator for new businesses.

Dec. 14, 2000: ABB wins $160-million clean fuels order in U.S.

ABB to implement the major portion of a clean fuels project at Murphy Oil USA, Inc.’s refinery in Meraux,

Louisiana, USA. Under the terms of the contract, ABB is responsible for engineering, procurement and

construction of the project.

Dec. 1, 2000: ABB signs cooperation agreement with Democratic People’s Republic of Korea

Signs a wide-ranging, long-term cooperation agreement with the Democratic People’s Republic of Korea

(DPRK) aimed at improving the performance of the country’s electricity transmission network and basic

industries.

Nov. 30, 2000:ABB opens Industrial IT and automation center in Singapore

Opens an information technology and automation center in Singapore, part of its strategy to expand its position

in a large and fast-growing market for industrial automation technologies.

Oct. 30, 2000: ABB signs $200 million orders to modernize Russian refinery

Signs contracts worth some US$ 200 million to modernize Tyumen Oil Company’s oil refinery in Ryazan,

Russia. The modernization project is intended to increase production of clean, high-octane gasoline at

Tyumen’s largest refinery, located approximately 190 kilometers (120 miles) east of Moscow.

Oct. 25, 2000: ABB reports solid performance in mixed environment

Reports higher orders, earnings and margins in the first nine months of 2000. Continuing expansion in

software, Industrial IT, eBusiness and telecommunications infrastructure ensures whole range of customers

more intelligent products, systems, and solutions and solidifies our portfolio of businesses and technologies

geared to the digital economy.

Oct. 5, 2000: ABB forming Industrial IT software joint venture with U.S. partner

Agrees to form a joint venture with U.S. software developer SKYVA International, a leading supplier of

enabling software for collaborative commerce. ABB pays US$ 130 million for a 53-percent stake in the

venture, and will transfer software engineers into SKYVA as part of the transaction. SKYVA International is a

key developer of Java-based software for so-called collaborative commerce – where systems seamlessly link

the business processes of suppliers, manufacturers and customers.

Sept. 12, 2000: ABB investing $100 million in China’s Sinopec Corp. IPO

Invests US$ 100 million in Sinopec Corp., Asia’s largest refiner, through an Initial Public Offering (IPO).

ABB will be a Strategic Investor in Sinopec Corp.’s IPO, joining several other multinational corporations.

June 8, 2000:ABB unveils next-generation wind power technology

Unveils a new wind power technology that makes wind farms competitive with conventional large power

plants. The Windformer(TM) increases power output by up to 20 percent and cuts lifetime maintenance costs

in half.

June 8, 2000: ABB sees billion-dollar growth opportunity in alternative and renewable energy

Outlines strategy for alternative energy solutions at a press conference in London, saying it expects its share of

the business to reach US$ 1 billion within the next five years.

May 11, 2000: ABB’s sale of share in ABB ALSTOM POWER concluded

Concludes the sale of its 50-percent share in ABB ALSTOM POWER to ALSTOM.

May 2, 2000: ABB’s sale of nuclear business to BNFL closed

ABB and BNFL finalized the sale of ABB’s nuclear activities to the U.K.-based nuclear technology company

following regulatory approval in Europe and the United States. The US$ 485 million transaction, first

announced last December, is effective immediately.

March 27, 2000: ABB, Investor and partners launch new venture group to boost European business-to

business eCommerce

ABB Ltd. and Investor AB announce the launch of b-business partners, a new European-based company with a

capital base of more than Euro 1 billion. b-business partners will invest in and develop business-to-business

eCommerce (e-B2B) companies across Europe, and aims to forge closer links between “new economy” and

traditional enterprises.

March 16, 2000: ABB Ltd holds first Annual General Meeting

Holds its first annual general meeting of shareholders since the creation of the single-class ABB Ltd share. The

meeting was held at two locations in Wettingen, Switzerland, and one in Västerås, Sweden. Shareholders in the

three locations were linked via satellite television and an electronic voting system. It was the world’s first

cross-border shareholders meeting using a real-time wireless electronic voting system.

Dec. 29, 1999: ABB to sell nuclear business to BNFL

ABB announces it will sell its nuclear power businesses to UK-based BNFL. The value of the transaction is

US$ 485 million. Apart from the US, ABB's main nuclear operations are in Sweden, France, and Germany.

Following the divestment of its nuclear business, ABB's remaining power generation business will focus on

renewable energy and distributed power.

March 23, 1999: ABB and ALSTOM create world leader in power generation

ABB and Paris, France-based ALSTOM announce the merger of their power generation businesses in a 50-50

joint company, ABB ALSTOM POWER, headquartered in Brussels. The company employs about 54,000

people in more than 100 countries. The new company was formed to better respond to the changes and

opportunities created by privatization and deregulation, thanks to the complementary product ranges,

geographic scope and R&D capabilities of its parent companies.

Feb. 4, 1999: ABB creates new single share

The Boards of Directors of ABB Asea Brown Boveri Ltd, ABB AG of Switzerland and ABB AB of Sweden

unanimously approved a plan to create a unified, single-class ABB share. It marked the final step in fully

integrating ABB, formed in 1988 by the merger of Asea of Sweden and Brown Boveri of Switzerland. The

single-class share - one share, one vote - replaced the four classes of shares of ABB AB (formerly Asea) and

ABB AG (formerly Brown Boveri), with their varying voting rights and nominal values. Trading began June

28, 1999, in Zurich (ABB), Stockholm, London and Frankfurt.

Jan. 21, 1999: ABB acquires energy-related financial services company in the US

ABB acquires Energy Capital Partners, a US-based finance company servicing the North American energy

services market. Renamed ABB Energy Capital LLC, the Boston, Massachusetts-based company provides

financing for energy service companies, with a focus on improving energy efficiency for industrial, utility and

public sector customers. Its hallmark product is performance based project financing, in which payment is

linked to the achievement of pre-set efficiency improvement targets.

Jan. 20, 1999: ABB divests its share of 50-50 rail joint venture Adtranz to DaimlerChrysler

ABB and DaimlerChrysler announced that DaimlerChrysler will acquire ABB's share of their 50-50 rail joint

venture Adtranz for cash compensation of US$ 472 million. The aim is to boost the global rail transportation

leader by integrating it into the strategic portfolio of DaimlerChrysler.

Oct. 14, 1998: ABB acquires all shares of Elsag Bailey, aims to boost Automation business

ABB acquires Netherlands-based Elsag Bailey Process Automation N.V: for about US$ 2.1 billion, including

debt of about US$ 600 million, making ABB a world leader in the global automation market. Elsag Bailey is a

leading provider of automation systems, process instrumentation, analytical measurement products, and

professional services. The company delivers control products and systems, instrumentation and analytical

devices to utilities, pulp and paper, metals, chemicals, pharmaceuticals, oil and gas, food and beverage

customers.

Aug. 12, 1998: ABB realigns Business Segments to tap market trends

ABB announced organizational changes aimed at boosting business growth areas, creating new synergies and

ensuring greater responsiveness in local and globalized markets where deregulation and privatization are

opening new opportunities. The Industrial and Building Systems segment was divided into three new

segments: Automation; Oil, Gas and Petrochemicals; and Products and Contracting. The Power Transmission

and Distribution segment was split into two separate segments, Power Transmission and Power Distribution,

reflecting the diverging impacts on those businesses of deregulation and privatization. The Power Generation

and Financial Services segments remained unchanged.

June 17, 1998: ABB acquires Alfa Laval Automation

ABB signed an agreement to acquire Sweden-based Alfa Laval’s Automation unit. Alfa Laval Automation is

one of Europe’s five largest suppliers of process control systems and automation equipment. The unit employs

1,200 people in 14 countries.

Feb. 25, 1998: ABB launches world’s first high-voltage generator

ABB launches the world’s first high-voltage generator, called the Powerformer. It is the first generator to

supply electricity directly to the high-voltage network without the need for transformers. The Powerformer

represents the first breakthrough innovation in generator technology in over a century. It can reduce overall

power plant life cycle costs by up to 30 percent.

1997

ABB announced an initiative to accelerate ABB’s local expansion in Asia and improve the productivity of its

Western operations. ABB said it would reduce some 10,000 jobs in Western Europe and the US and take a

restructuring charge of US$ 850 million in the fourth quarter of 1997. ABB signs an agreement with Industri

Kapital to sell ABB’s wire rod and winding wire businesses in Sweden and Germany.

1996

Demand in emerging markets continues to drive growth. Employment in these countries rises by 10,000, while

selective downsizing continues in Western Europe and North America. ABB completes the merger at the

Board level by integrating its parent companies' Boards into the ABB Group Board. Göran Lindahl is named

ABB President and CEO, effective January 1, 1997, succeeding Percy Barnevik, who becomes non-Executive

Chairman of the ABB Board of Directors.

1995

ABB continues to expand its local presence in Asia and Central and Eastern Europe through internal growth,

acquisitions and majority joint ventures. ABB announces the merger of its Transportation segment into a 50-50

joint venture with Daimler-Benz AG of Germany, effective January 1, 1996. ABB selected as Europe's best

company in technology and innovation management.

1994

ABB emerges from a two-year consolidation phase to begin new volume and profit growth. In Western Europe

and North America, the focus is on the fast-growing service and retrofit markets, while demand for new

infrastructure drives demand growth in emerging markets. In Asia, ABB has 30,000 employees and 100 plants,

engineering, service and marketing centers.

1993

The Group continues its strategy of targeted expansion in Europe (including the former Soviet Union), the

Americas, and Asia Pacific. ABB introduces the GT24/GT26 gas turbine technology opening new

opportunities on the global market for high-efficiency, low-emission turbines.

1992

Recession management is accelerated and total employment reduced by 14,000. Employment in Central and

Eastern Europe rises to 20,000 people in 30 companies. In Asia, more than 20 new manufacturing and service

units are created through joint ventures, acquisitions, and greenfield investments.

1991

Investments continue in Central and Eastern Europe, where ABB employs about 10,000 people by year end.

Extensive restructuring positions the company to meet the demands of recession economies in North America

and parts of Europe. Research & Development spending increases by 20 percent

1990

ABB begins an aggressive program of expansion in Central and Eastern Europe and prepares for expansion

into Asia. The rate of acquisition slows in the U.S. and Western Europe, where a period of consolidation and

restructuring begins.

1989

In December, ABB finalizes the purchase of the worldwide power transmission and distribution operations of

Westinghouse Electric Corp. of the U.S. Also in December, ABB announces the agreement to buy Stamford,

Ct.-based Combustion Engineering Group. In total, ABB purchases about 40 companies in 1989.

1988

Operations begin January 5, 1988. In the first year, some 15 acquisitions are made, among them the

environmental control group Fläkt AB of Sweden, the contracting group Sadelmi/Cogepi, Italy, and railway

manufacturer Scandia-Randers A/S of Denmark.

1987

ASEA AB of Västerås, Sweden and BBC Brown Boveri Ltd of Baden, Switzerland, announce plans in August

to merge their operations to form ABB Asea Brown Boveri Ltd, headquartered in Zurich, Switzerland. Each

parent company is to hold 50 percent of the new company.

REFERENCE

http://www.abb.com/

http://en.wikipedia.org/wiki/ABB_Group

www.mena. abb .com/Sitemap.aspx

http://www.google.com/search?hl=en&q=ABB+Group

www.timken.com/.../ financialhighlights

http://moneycentral.msn.com/investor/invsub/