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...The lawmakers said they had engaged “in a good-faith effort to work with ABB to remedy the alarming security vulnerability created by the installation of ABB equipment and technology by ZPMC engineers in...
...ABB and Siemens are leading a €100mn fundraising round by Morrow Batteries, a start-up that aims to start producing in its home country of Norway by the end of next year....
...ABB in November raised about SFr200mn from selling an 8 per cent stake....
...Annual sales of about $500mn make ABB E-mobility one of Europe’s largest equipment manufacturers....
...GFG said it had the “right plan to put ABB on the path to recovery as a solvent going concern”....
...The US is ABB’s biggest single market, where it makes everything from industrial electric motors to robots, followed by China....
...Swiss-Swedish ABB wants to add some oomph to the planned spin-off of its Accelleron turbocharging business....
...“Today the administrators have decided against GFG’s business plan, which would have rescued ABB in its entirety, saved all its 250 employees and ensured its continuation as a going concern,” Kabel added...
...It also spent $6.4bn to buy a nearly 80 per cent stake in ABB’s power grid business in 2020, which it later fully acquired....
...Bjorn Rosengren’s plan to get the cylinders firing at ABB is gathering pace....
...The group’s operating profit margin of 6 per cent also remains low compared with global peers such as Siemens and ABB....
...It withdrew from its thermal power business, spent $6.4bn to buy Swiss-Swedish engineering group ABB’s electricity grid assets, and strengthened its global presence in railways....
...As part of the revamp, Hitachi completed its $6.8bn acquisition of an 80 per cent stake in ABB’s power grids division last year, but GlobalLogic would be its first big deal in software....
...A great deal of ABB’s businesses are closely linked to each other....
...The UK’s Serious Fraud Office has closed its investigation into Swiss-Swedish conglomerate ABB after finding insufficient evidence to bring charges, in the latest case the agency has cleared from its backlog...
...A spokesperson for ABB said its policy was in line with official advice to hinder the spread of the virus. ABB declined to specify how many staff it had tested....
...Nevertheless, some challenges remain, says Bob Stojanovic, director of electric vehicle infrastructure at ABB, the energy technology group....
...Analysts had said Hitachi was likely to walk away from the project following its $6.4bn deal in late 2018 to buy an 80 per cent stake in Swedish-Swiss conglomerate ABB’s power grids division — a business...
...In 2016, Cevian urged ABB to break up its conglomerate structure by spinning off its power grids division. Last year, Cevian co-founder Lars Forberg joined the ABB board....
...(Bloomberg) Company makeover Switzerland’s engineering powerhouse ABB is positioned in some of the most in-demand and interesting high-tech markets, yet its share price is seriously lagging competitors....
...But fewer gambits from the activist playbook apply than at businesses such as Thyssenkrupp and ABB....
...ABB’s largest shareholder, Sweden’s Investor AB, welcomed the appointment....
...Get behind the story Formula One takes axe to emissions in quest for sponsors Porsche and Mercedes approach Formula E as proving ground for electric technology ABB FIA Formula E championship powers away...
...ABB may require more deft moves before the stock earns a decent return again....
...“We support the strategic direction of ABB, and have full confidence in Peter Voser and the management team to continue implementing the transformation of ABB,” said Cevian co-founder Lars Forberg....
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