32 Facts About ABB

ABB is a multinational corporation headquartered in Zurich, Switzerland.

ABB is traded on the SIX Swiss Exchange in Zurich, Nasdaq Stockholm and the New York Stock Exchange in the United States.

In 1989, ABB purchased an additional 40 companies, including Westinghouse Electric's transmission and distribution assets, and announced an agreement to purchase the Stamford, Connecticut-based Combustion Engineering .

In 1995, ABB agreed to merge its rail engineering unit with that of Daimler-Benz AG of Germany.

ABB acted to improve the productivity and profitability of its Western operations, taking an $850 million restructuring charge as it shifted more resources to emerging markets and scaled back some facilities in higher-cost countries.

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In 1998, ABB acquired Sweden-based Alfa Laval's automation unit, which at the time was one of Europe's top suppliers of process control systems and automation equipment.

Separately, ABB agreed to sell its nuclear power business to British Nuclear Fuels of the United Kingdom.

In 2000, ABB divested its interests in ABB Alstom Power and sold its boiler and fossil-fuel operations to Alstom.

In 2002, ABB announced its first-ever annual loss, a $691 million net loss for 2001.

In 2005, ABB delisted its shares from the London Stock Exchange and Frankfurt Stock Exchange.

In 2006, ABB put an end to its financial uncertainties by finalizing a $1.

In 2004, ABB had sold its upstream oil and gas business, ABB Vetco Gray.

ABB's plan going forward was to support the oil and gas industry with its core automation and power technology businesses.

In 2008, ABB agreed to acquire Kuhlman Electric Corporation, a US-based maker of transformers for the industrial and electric utility sectors.

In December 2008, ABB acquired Ber-Mac Electrical and Instrumentation to expand its presence in Western Canada's oil and gas industries.

On 10 January 2011, ABB invested $10 million in ECOtality, a San Francisco-based developed of charging stations and power storage technologies, to enter North America's electric vehicle charging market.

In July 2013, ABB acquired Power-One in a $1 billion all-cash transaction, to become the leading global manufacturer of solar inverters.

In 2016, ABB won the contract of TANAP Project in Turkiye, ABB will deliver the telecommunications, security and control infrastructure to contribute to safe, secure and reliable operation of the pipeline throughout its lifetime.

On 6 July 2017, ABB announced it had completed its acquisition of Bernecker + Rainer Industrie-Elektronik, the largest independent provider of product and software-based, open-architecture for machine and factory automation.

In 2018, ABB became the title partner of the ABB FIA Formula E Championship, the world's first fully electric international FIA motorsport series.

On 30 June 2018, ABB completed its acquisition of GE Industrial Solutions, General Electric's global electrification business.

In March 2020, ABB announced that it had agreed to sell its solar inverter business to Italian solar inverter manufacturer Fimer.

In 1990, ABB launched Azipod, a family of electric propulsion systems that extends below the hulls of large ships, providing both thrust and steering functions.

In 1998, ABB launched the FlexPicker, a robot using a three-armed delta design uniquely suited to the picking and packing industry.

In 2000, ABB brought to market the world's first commercial, high-voltage, shore-to-ship electric power, at the Swedish port of Gothenburg.

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In 2004, ABB launched its Extended Automation System 800xA, an industrial system for the process industries.

In 2018, ABB unveiled the Terra High Power charger for electric vehicles, capable of delivering enough to charge in eight minutes to enable an electric car to travel 200 kilometers.

In 2014, ABB formed with Hitachi a joint venture for HVDC system solutions in Japan.

ABB took over two rolling stock manufacturing facilities from BREL; the Derby Litchurch Lane Works and York Carriage Works.

In September 1992, ABB Group purchased the stakes of the other members of the consortium to become the sole owner with the business rebranded ABB Transportation.

Around the same time, in a further diversification, ABB partnered with Brush Traction to construct the fleet of 46 Class 92 electric locomotives for hauling freight trains through the Channel Tunnel; ABB were involved in the design and construction of many components including the traction motors, while final assembly took place at Brush Works in Loughborough.

ABB announced in 2021 that it is involved in the construction of the first permanent electric road that powers private vehicles and commercial vehicles such as trucks and buses.