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ABB Group [6] is a Swedish-Swiss [7] [8] [9] 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, in addition to OTC Markets Group's pink sheets in the United States. [10]
ABB's data centre-related orders increased 23% per year on average in 2019-2023, and even faster in 2024 to make up 15% of its electrification business, from 12% in 2023 and 8% in 2022.
As the US Motors and Generators Business Unit of ABB, ABB Motors and Mechanical Inc. markets, designs, manufactures, and provides service for industrial electric motors, generators and mechanical power transmission products. This business was formerly known as Baldor Electric Company until its company name was merged into ABB on March 1, 2018.
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]
The acquisition of ABB Industrial Services follows IPS’s acquisition of ABB’s hydrogenerator and transformer repair business in June 2022. The five ABB electric motor, generator, mechanical, switchgear, and circuit breaker industrial service centers were a part of a General Electric Industrial Solutions acquisition by ABB in June 2018.
This page was last edited on 11 March 2021, at 18:36 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may ...