ABB

ABB is a Swiss-Swedish industrial technology company headquartered in Zurich, Switzerland. Its principal activities are organized around electrification, motion, process automation, and robotics and discrete automation. The company supplies equipment, control systems, software and services that help industrial, commercial and infrastructure customers use electricity more efficiently, automate production, control motors and machines, and manage complex operating processes. The ABB name was created in 1988 through the merger of Sweden’s ASEA and Switzerland’s Brown, Boveri & Cie. Both predecessor companies had deep roots in electrical engineering. ASEA, founded in Sweden in 1883, developed electrical generation and industrial technologies, while Brown, Boveri & Cie., founded in Switzerland in 1891, produced motors, generators, turbines, transformers and related power equipment. Their combination created an international group with capabilities spanning power generation, transmission and distribution, transportation, industrial automation and robotics. ABB’s current portfolio includes low- and medium-voltage electrical distribution and protection products, switchgear, building-electrification equipment, motors, variable-frequency drives, machine-control technologies, process-control platforms, measurement and analytical instruments, industrial robots, robotic cells, digital software and lifecycle services. The company serves manufacturing, utilities, energy, mining, metals, chemicals, marine, transportation, buildings, data centers and other process and infrastructure industries. Its products may be sold directly, through distributors, or as part of engineering, procurement, construction, systems-integration and service projects. Digitalization is a major part of ABB’s positioning. The ABB Ability portfolio connects industrial equipment, automation systems, software and services for monitoring, optimization, analytics and remote operations. ABB also uses its automation and motion technologies in applications such as factory robotics, electric vehicle charging, marine propulsion, energy management and industrial process control. ABB formerly had a major power-grids business, but agreed in 2018 to sell a controlling interest to Hitachi. The transaction closed in 2020, and the business became Hitachi ABB Power Grids before being renamed Hitachi Energy. Hitachi acquired the remaining interest in 2022. ABB subsequently concentrated more strongly on electrification, industrial automation, motion, and robotics. It also divested or separated other activities, including its mechanical power transmission business and turbocharging business, as part of a portfolio-shaping strategy. ABB is listed in Switzerland and Sweden and operates internationally. It is recognized particularly for industrial robots, motor drives, electrical distribution equipment, process automation and industrial digital solutions. Its business scope and organizational structure continue to evolve through acquisitions, divestments, product development and changes in industrial technology markets.

ABB’s history begins with two major electrical-engineering companies. Allmänna Svenska Elektriska Aktiebolaget, or ASEA, was founded in Västerås, Sweden, in 1883 by Ludvig Fredholm to manufacture electrical lighting equipment and generators. Brown, Boveri & Cie. was established in Baden, Switzerland, in 1891 by Charles Eugene Lancelot Brown and Walter Boveri. It developed motors, generators, steam turbines, transformers and other alternating- and direct-current technologies. ASEA and Brown Boveri announced their merger in August 1987, and ABB began operating on 5 January 1988. The new group combined Swedish and Swiss industrial capabilities and initially focused on power generation, transmission and distribution, electric transportation, industrial automation and robotics. Its early international expansion included acquisitions in environmental control, contracting, rail transportation and power equipment. The company also acquired the robotics business of Cincinnati Milacron in 1990, helping expand its automotive spot-welding activities, and introduced the modular IRB 6000 robot in 1991. During the 1990s ABB expanded in Central and Eastern Europe, Asia-Pacific and the Americas. It increased its process-automation capabilities through acquisitions including Alfa Laval’s automation unit and Elsag Bailey Process Automation. ABB also participated in railway and power-generation ventures, although it later reduced its involvement in complete rail vehicles and divested several conventional power-generation activities. In 1997, following the Asian financial crisis, the company announced restructuring measures that included a major charge and workforce reductions while redirecting resources toward growth markets and improved productivity. In 1999, ABB moved toward a unified share structure and completed the acquisition of Elsag Bailey for approximately $2.1 billion. The early 2000s brought financial and legal pressure. ABB’s first annual loss was reported for 2001, after provisions for asbestos-related litigation involving Combustion Engineering were increased. ABB later reached a final settlement of major asbestos liabilities in 2006. The group also sold or reorganized businesses in oil and gas, power generation and other sectors as it sought to simplify its portfolio. In the 2010s ABB pursued growth in motors, drives, electrification, robotics, automation and electric-vehicle infrastructure. Major transactions included the acquisitions of Baldor Electric, Thomas & Betts, Power-One, B&R and GE Industrial Solutions. ABB also became title partner of the ABB FIA Formula E Championship in 2018, linking the brand to electric mobility and energy technology. A decisive portfolio change occurred when ABB agreed in 2018 to sell 80.1 percent of its Power Grids business to Hitachi. The deal closed in 2020, after which the business became part of Hitachi Energy; Hitachi acquired the remaining 19.9 percent in 2022. ABB also sold its solar-inverter business to Fimer, divested its mechanical power transmission business to RBC Bearings in 2021, and separated its turbocharging business as Accelleron in 2022. In the 2020s ABB continued investing in robotics, electrification, automation, smart buildings, environmental monitoring and digital services. It opened a major robotics facility in Shanghai, acquired Siemens’ low-voltage NEMA motors business and agreed to acquire smart-home company Eve Systems. The company’s contemporary identity is therefore that of a focused industrial-technology group rather than the broader power and heavy-engineering conglomerate of its earlier decades.

1. 2023Eve Systems acquisition announced

   ABB announces the acquisition of smart-home automation provider Eve Systems.

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2. 2022Turbocharging business separated as Accelleron

   ABB completes the spinoff of its turbocharging business, which becomes the separately listed Accelleron.

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3. 2021Mechanical Power Transmission business sold

   ABB sells its Mechanical Power Transmission business to RBC Bearings as part of portfolio simplification.

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4. 2020Power Grids transferred to Hitachi

   ABB completes the sale of a controlling stake in Power Grids to Hitachi; the business becomes part of Hitachi Energy.

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5. 2018GE Industrial Solutions acquired

   ABB completes the acquisition of GE’s industrial-solutions electrification business.

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6. 2017B&R acquisition completed

   ABB completes the acquisition of B&R, adding open-architecture automation hardware and software.

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7. 2012Thomas & Betts acquired

   ABB completes its acquisition of Thomas & Betts, broadening its low-voltage products and electrical-construction offering.

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8. 2011Baldor Electric acquired

   ABB acquires Baldor Electric, expanding its industrial-motors and North American motion portfolio.

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9. 2001First annual loss reported

   ABB reports its first annual loss after increasing provisions connected with asbestos litigation involving Combustion Engineering.

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10. 1999Elsag Bailey acquisition completed

    ABB completes the acquisition of Elsag Bailey Process Automation, strengthening industrial control and process automation.

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11. 1991IRB 6000 robot introduced

    ABB introduces the modular IRB 6000 industrial robot, initially associated with automotive spot-welding applications.

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12. 1988ABB begins operations

    ASEA and Brown, Boveri & Cie. merge to form Asea Brown Boveri, known as ABB.

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13. 1891Brown, Boveri & Cie. is founded

    Charles Brown and Walter Boveri establish the Swiss electrical-engineering company in Baden.

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14. 1883ASEA is founded in Sweden

    Allmänna Svenska Elektriska Aktiebolaget, later known as ASEA, is established in Västerås to develop electrical equipment.

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A technology partner for industrial, energy, infrastructure, building and transportation customers, emphasizing electrification, automation, productivity, energy efficiency, reliability, safety and industrial digitalization.

• ABB AbilityIndustrial digital platform and solutions

  ABB Ability is the company’s portfolio of connected digital solutions. It combines industrial equipment, automation systems, software, data, analytics and services to support monitoring, predictive insight, optimization and remote operations across sectors such as manufacturing, energy, buildings and infrastructure.

• ABB drivesMotion control

  ABB’s drive portfolio controls motor speed, torque and operating conditions. Products are used in industrial machinery, pumps, fans, heating and ventilation, marine systems, process plants and other applications where efficient motor control can improve productivity and reduce energy consumption.

• ABB industrial robotsRobotics and discrete automation

  ABB industrial robots, controllers and robotic cells support assembly, material handling, welding, painting, packaging, palletizing and logistics. The offering is sold with programming tools, application software, engineering and integration services for automotive, manufacturing and other industries.

• ABB electrification productsElectrification and distribution

  ABB’s electrification portfolio includes low- and medium-voltage distribution equipment, circuit breakers, switchgear, protection devices, connection products, building-electrification systems and energy-management technologies for buildings, utilities, industry and infrastructure.

• ABB process automationProcess automation

  ABB process-automation offerings cover control systems, instrumentation, measurement, analytics, operator environments and related services. They are used in continuous and batch industries including chemicals, mining, metals, energy, marine and water-related operations.

• ABB motorsMotors and motion

  ABB supplies industrial electric motors and associated motion technologies for machinery, process equipment, pumps, fans, compressors and other industrial loads. The portfolio has been expanded through acquisitions in motors and low-voltage motor markets.

• 2018ABB FIA Formula E Championship partnership

  International

  ABB became the title partner of the FIA Formula E electric-motorsport championship, using the partnership to associate its brand with electrification, electric mobility and power technology.

  Outcome. The championship continued under the ABB FIA Formula E name.

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• 2022Spin off turbocharging businessStrategy

  ABB continued simplifying its portfolio and separating businesses outside its principal electrification and automation focus.

  What changed. ABB distributed the turbocharging business to shareholders and listed it as Accelleron on the SIX Swiss Exchange.

  Aftermath. Accelleron became an independent company, while ABB concentrated on its four principal business areas.

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• 2018Sell controlling stake in Power Grids to HitachiM&A

  ABB sought to focus its portfolio more strongly on electrification, automation, motion and robotics while changing its exposure to power-grid infrastructure.

  What changed. ABB agreed to sell 80.1 percent of Power Grids to Hitachi; the transaction closed in 2020 and the remaining interest was transferred in 2022.

  Aftermath. The business became Hitachi Energy, while ABB retained a more focused industrial-technology portfolio.

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• 2017Acquire B&RM&A

  ABB aimed to strengthen its factory-automation and software capabilities.

  What changed. ABB acquired Bernecker + Rainer Industrie-Elektronik, an independent provider of open-architecture industrial automation.

  Aftermath. B&R became part of ABB’s industrial-automation activities and expanded its automation offering.

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• 2022Foreign Corrupt Practices Act resolutionControversy

  ABB agreed to a coordinated global resolution concerning alleged improper payments and related conduct, including matters involving South Africa.

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• 2010Second Foreign Corrupt Practices Act settlementControversy

  ABB faced another US Foreign Corrupt Practices Act settlement related to alleged bribery conduct.

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• 2004First Foreign Corrupt Practices Act settlementControversy

  ABB entered an early US Foreign Corrupt Practices Act resolution concerning alleged improper payments.

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• 2001Combustion Engineering asbestos litigationControversy

  ABB faced substantial asbestos-related claims connected with products sold before its acquisition of US company Combustion Engineering. Increased provisions contributed to ABB’s first annual loss, and a major settlement was reached in 2006.

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• 2001Bid-rigging guilty pleaControversy

  An ABB entity pleaded guilty in the United States in a bid-rigging matter, adding to the company’s legal and compliance history.

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• 2023ABB acquires Eve Systems

  ABB agreed to acquire Eve Systems, a smart-home automation company, supporting its building-automation and connected-home activities.

  M&A
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• 2022ABB spins off turbocharging business as Accelleron

  ABB separated its turbocharging business through a shareholder spinoff. The independent company was listed on the SIX Swiss Exchange under the name Accelleron.

  M&A
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• 2022ABB opens large robotics factory in Shanghai

  ABB opened a new robotics production facility in Shanghai, expanding its manufacturing and development presence in China.

  Product launch
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• 2022ABB spun off turbocharging business as Accelleron

  ABB separated its turbocharging operations into Accelleron, which became a separately listed company.

  M&A
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• 2021ABB sold Mechanical Power Transmission

  The business was sold to RBC Bearings as part of ABB's portfolio simplification.

  M&A
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• 2020ABB completes sale of Power Grids business

  The Power Grids transaction with Hitachi closed, marking a major shift in ABB’s portfolio toward electrification, automation, motion and robotics.

  M&A
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• 2020ABB Power Grids became part of Hitachi Energy

  The majority transfer to Hitachi was completed and the business was subsequently branded Hitachi Energy.

  M&A
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• 2020ABB sold its solar inverter business to Fimer

  ABB agreed to divest its solar inverter business, including related manufacturing, research and development operations.

  M&A
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• 2018ABB agrees to sell Power Grids business to Hitachi

  ABB announced an agreement under which Hitachi would acquire a majority interest in its Power Grids business. The transaction was completed in 2020 and the business later became Hitachi Energy.

  M&A
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• 2018ABB completes acquisition of GE Industrial Solutions

  ABB completed its acquisition of General Electric’s global industrial-solutions electrification business, expanding its low-voltage and electrical-distribution portfolio.

  M&A
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• 2018ABB acquired GE Industrial Solutions

  ABB completed the purchase of General Electric's global industrial electrification business.

  M&A
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• 2018Power Grids transaction with Hitachi announced

  ABB agreed to transfer a controlling interest in its Power Grids business to Hitachi, beginning the separation of that activity from ABB.

  M&A
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• 2017ABB completes acquisition of B&R

  ABB acquired Bernecker + Rainer Industrie-Elektronik, strengthening its position in open-architecture industrial automation and factory-control software.

  M&A
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• 2012ABB acquired Thomas & Betts

  The acquisition expanded ABB's North American low-voltage products business for industrial, construction and utility customers.

  M&A
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• 2011ABB acquired Baldor Electric

  ABB bought Baldor in an all-cash transaction to strengthen its position in North American industrial motors and drives.

  M&A
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• 1988ABB formed through ASEA and Brown Boveri merger

  The Swedish and Swiss electrical-engineering groups began operating as ASEA Brown Boveri, creating the corporate group that later became ABB.

  M&AOther
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1. ABB
2. ABB company history
3. US Department of Justice: ABB FCPA resolution
4. 美国第二次海外贿赂和解