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ABB Group is a Swedish-Swiss [6] [7] [8] multinational electrical engineering corporation. Incorporated in Switzerland as ABB Ltd., and headquartered in Zurich, [1] it is dual-listed on the SIX Swiss Exchange in Zurich and the Nasdaq Nordic exchange in Stockholm, Sweden. [9]
In July 2020, ABB divested its power grid business and sold 80.1% of that to Hitachi Ltd., leading to the formation of Hitachi ABB Power Grids. [1] In October 2021, Hitachi ABB Power Grids changed its company name to Hitachi Energy. In December 2022, it was confirmed that Hitachi acquired the remaining 19.9 percent shares from ABB Ltd. [2]
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Since the Ming and Qing dynasties, Xiamen has been one of the important ports for foreign transportation and trade in China. [1] The Xiamen Special Economic Zone, which originally covered a boundary of 2.5 km 2 in Xiamen City, was expanded to 131 km 2 in 1984, encompassing the whole Xiamen Island, including Huli District and Siming District. [2]
Over the years, it has been deemed the Chinese counterpart of the S&P 500 index and a better gauge of the Chinese stock market than the more traditional SSE Composite Index. The index is compiled by the China Securities Index Company, Ltd. [1] It has been calculated since April 8, 2005.
Xi'an Electric's products include power generation, power transmission, distribution, transformers, and related electrical equipment. [4] The China XD Group is a Chinese state-owned power engineering business and electrical equipment manufacturer. Founded in July 1959, [5] the company was formally named Xi'an Electric Machinery. The company ...
The company, legally known as ABB Daimler-Benz Transportation, was created in 1996 as a joint venture between ABB and Daimler-Benz to combine their rail equipment manufacturing operations. In 1999, DaimlerChrysler (successor to Daimler-Benz) bought ABB's shares and changed the company's official name to DaimlerChrysler Rail Systems .
It was ABB's biggest acquisition to date with a purchase price of $4.2 billion. [8] In 2013, Spiesshofer was appointed CEO of ABB, a position he held until 2019. As CEO, he led the ABB acquisition of GE Industrial Systems, which was announced in 2017. [9] In 2020, he joined American investment company Blackstone Inc. as senior advisor. [10]