ABB
Swedish-Swiss technology firm in electrification and automation.
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Operating in electrification and automation, ABB Group is a technology firm with Swedish-Swiss origins.[1] ABB Ltd, incorporated in Switzerland and based in Zurich, has its shares traded on both the Nasdaq Nordic exchange in Stockholm and the SIX Swiss Exchange in Zurich.[2] The Fortune Global 500 has included ABB for three decades.[3]
Key facts and history
In 1990, ABB launched Azipod, a family of electric propulsion systems extending below ship hulls for thrust and steering.[4] Ludvig Fredholm established Allmänna Svenska Elektriska Aktiebolaget (ASEA) in 1883 in Västerås, Sweden, to produce electrical light and generators.[5] A merger between ASEA and BBC was announced on 10 August 1987, creating ASEA Brown Boveri (ABB), with each parent holding 50 percent and headquarters in both Zurich and Västerås.[6] In early 2002, ABB reported a $691 million net loss for 2001, its first annual loss ever, which resulted from doubling asbestos-related litigation provisions to $940 million for its Combustion Engineering subsidiary.[7]
What the cited sources add
A 2022 France 24 article reported that ABB agreed to pay $315 million to settle US criminal charges for bribing South Africa's state-owned Eskom.[8] The same source stated that between 2014 and 2017, ABB secured government contracts by syphoning illicit payments through subcontractors associated with an Eskom official.[8] ABB chief executive Bjorn Rosengren said the company launched a new code of conduct and implemented an enhanced control system after the case.[8] A Ship Technology article noted that Azipod engines, manufactured by ABB and Masa-Yards, provide maximum manoeuvrability because engines are directly attached to propellers.[9]
The same evertiq.com article reported that the acquired business had annual revenues of approximately EUR 145 million for the fiscal year ended September 30, 2025.[10]
References
- Wikipedia, "ABB" (CC BY-SA 4.0), which cites: "ABB Group Helping industries outrun – leaner and cleaner", ABB Group; "End to end industry 4.0 solutions", abb.com Business Magazine for International Enterprise, 2017; Garcia, "ABB’s Divisions Are Also Startup Investors", Wall Street Journal, 2024-07-12; "ABB to pay $315 mn to settle US charges over South Africa bribes", France 24, 2022-12-03; "End to end industry 4.0 solutions", abb.com Business Magazine for International Enterprise, 2017; "ABB's Divisions Are Also Startup Investors - WSJ", archive.is, 2024-07-14; "ABB to pay $315 mn to settle U en.wikipedia.org
- Wikipedia, "ABB" (CC BY-SA 4.0), which cites: "Share Listing data", ABB Ltd (original not read by us) en.wikipedia.org
- Wikipedia, "ABB" (CC BY-SA 4.0), which cites: "Fortune 500 – ABB", Fortune (original not read by us) en.wikipedia.org
- Wikipedia, "ABB" (CC BY-SA 4.0), which cites: Bond, "ABB celebrates 30 years of Azipod propulsion", Seatrade Cruise, 6 April 2021; "Boskalis wins contract to repair Carnival Vista's propulsion system", Ship Technology, 4 July 2019 (we also read that source) en.wikipedia.org
- Wikipedia, "ABB" (CC BY-SA 4.0), which cites: "History of ABB", ABB Ltd; "ABB Group profits from Ulrich Spiesshofer's automation gamble", European CEO, 18 January 2018 (original not read by us) en.wikipedia.org
- Wikipedia, "ABB" (CC BY-SA 4.0), which cites: "BBC-Brown, Boveri and Asea Announce Merger", AP News (original not read by us) en.wikipedia.org
- Wikipedia, "ABB" (CC BY-SA 4.0), which cites: "ABB posts US$ 691 million loss for 2001 after substantial charges, cuts net debt in Q4 by US$ 2.2 billion on record cash flow", ABB Ltd, 13 February 2002 (original not read by us) en.wikipedia.org
- "ABB to pay $315 mn to settle US charges over South Africa bribes", France 24, 2022-12-03. facts only, no text reused. france24.com
- "Boskalis wins contract to repair Carnival Vista's propulsion system", Ship Technology, 4 July 2019. facts only, no text reused. ship-technology.com
- "ABB completes acquisition of Gamesa’s power electronics business", evertiq.com, 2025. facts only, no text reused. evertiq.com
Each numbered sentence above was checked against the source it cites before publication. Sentences citing Wikipedia adapt text from the English Wikipedia article ABB (contributors), used under CC BY-SA 4.0; this entry is available under the same licence. Other sources were used for facts only; no text or images are copied from them.
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Sources
Compiled from Wikipedia and the sources listed below. Text from Wikipedia is available under CC BY-SA 4.0; this entry is adapted from it.
- Wikipedia: ABB (CC BY-SA 4.0).
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