Key Developments: ABB Ltd (ABBN.VX)

ABBN.VX on Virt-X Level 1

22.46CHF
16 Apr 2014
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Latest Key Developments (Source: Significant Developments)

ABB wins $18 mln order to help reinforce Indian power grid
Monday, 7 Apr 2014 08:00pm EDT 

ABB Ltd:Wins order from Power Grid Corporation of India Limited (PGCIL) to construct a 400 kilovolt (kV) gas-insulated switchgear (GIS) substation at Kolhapur in the western Indian state of Maharashtra.Order value about $18 million.Project scope includes design, engineering, supply, installation and commissioning.Key product supplies include the 400 kV GIS, shunt reactors, control and relay panels based on IEC 61850 platform.The project is scheduled for completion in 2016.  Full Article

ABB to provide operations management software for chemical complex
Sunday, 6 Apr 2014 08:00pm EDT 

ABB Ltd:Receives contract to provide enterprise-wide mobile plant operations management solution for Sadara Chemical Company.Sadara is a joint venture developed by Saudi Arabian Oil Company and The Dow Chemical Company.Will deliver shift operations management software solution, eSOMS, part of ABB’s Ventyx portfolio, to the client.No financial details.  Full Article

ABB wins $40 million order to provide cable link for offshore wind farm
Thursday, 3 Apr 2014 08:00pm EDT 

ABB Ltd:Wins an order from Energinet.dk to build an alternating-current (AC) power cable system that will help integrate and transmit power from the Horns Rev 3 offshore wind farm.Order value about $40 million.The Horns Rev 3 wind farm is located in the North Sea, about 30 kilometers off the western-most point of Denmark, Blaavands Huk.Project scope includes technical design, engineering and production of high-voltage cable system including accessories and installation.Delivery will commence in 2016.Energinet.dk is an independent public enterprise owned by the Danish state as represented by the Ministry of Climate, Energy and Building.  Full Article

ABB wins $175 million oil and gas project in Arabian Gulf
Tuesday, 1 Apr 2014 08:00pm EDT 

ABB Ltd:Wins a contract to upgrade the power generation capacity at Zirku oil and gas processing facilities in the Arabian Gulf.The order was awarded by Zakum Development Company (ZADCO).Contract value $175 million.Costract scope includes engineering, procurement, construction, installation, pre-commissioning, commissioning and testing of two gas turbine driven generators, step-up transformers, new high-voltage switchgear, power management system and associated facilities.Abb will also deliver a new substation to house Gas Insulated Switchgear (GIS) and provide waste heat recovery units to utilise exhaust gas from the new gas turbines for process heating and subsequently reducing CO2 emissions.Says the project is currently in the design stage and is scheduled for completion and handover to operations in June 2016.  Full Article

ABB announces statement on European Commission decision on anti-competitive practices in power cables
Tuesday, 1 Apr 2014 08:00pm EDT 

ABB Ltd:Confirms the company has been named in a European Commission ruling on anti-competitive practices in the power cable industry.Says the company's fine was waived because the company received full immunity for voluntarily disclosing these practices to the European Commission.Says the information provided by ABB enabled the Commission to conduct an investigation resulting in its decision.  Full Article

ABB and Philips join forces in automation for energy efficiency
Sunday, 30 Mar 2014 08:00pm EDT 

ABB Ltd:Says the company and Philips join forces to simplify the integration of connected lighting systems and building device control for commercial buildings.Says Philips' connected lighting system will interface seamlessly with ABB's automation software to offer the ability to control a commercial environment including lighting, blinds, building access and heating, ventilation and air conditioning (HVAC).  Full Article

ABB to supply medium voltage power products for smart grid project in Italy
Thursday, 27 Mar 2014 08:00pm EDT 

ABB Ltd:Wins order for medium voltage products from Azienda Comunale Elettricita e Acque, the Italian utility.The products (including UniSec switchgear) will facilitate the development of a smart grid project spanning a new section of Rome's electrical distribution network.Contract value not disclosed.  Full Article

Nortek Inc to acquire ABB Ltd's ventilation and air conditioning business
Friday, 21 Mar 2014 08:00am EDT 

Nortek Inc:Signed a definitive agreement to acquire the heating, ventilation and air conditioning (HVAC) business of Thomas & Betts Corporation, which is a wholly owned subsidiary of ABB Ltd.Wells Fargo Securities, LLC served as exclusive financial advisor to Nortek.Under the terms of the agreement, Nortek will pay about $260 million for in an all-cash transaction.T&B HVAC includes Reznor Manufacturing Company, LLC (U.S.), AmbiRad Ltd (U.K.), Reznor Europe, N.V. (Belgium), Gaz Industrie S.A.S. (France) and manufacturing operations in Monterrey, Mexico.  Full Article

ABB and consortium partner win $145 million order
Thursday, 20 Mar 2014 11:16am EDT 

ABB Ltd:Wins with its consortium partner UK Power Networks (UKPN) Services a contract worth around $145 million by Network Rail to upgrade one of Britain’s oldest and busiest railways.The contract is evenly split between the consortium partners, reflecting the work scope.Says the consortium, will be responsible for the turnkey delivery of more than 30 new traction substations.  Full Article

ABB wins $110 mln order from Saudi Electricity Company
Wednesday, 19 Mar 2014 06:00am EDT 

ABB Ltd:Will construct substations for the Saudi Electricity Company (SEC), to boost transmission capacity in the country’s western region of Saudi Arabia.Contract value about $110 million.The turnkey order includes design, supply, installation and commissioning of a 380/110 kV bulk supply point substation and the expansion of the existing remote-end substations in Bisha and Sised to support the 380 kV grid interconnection.  Full Article

Switzerland's ABB to invest $300 mln on production plant in China

ZURICH, April 3 - Swiss engineering group ABB plans to invest $300 million over the next five years to set up a production hub for power products in the coastal city of Xiamen in southeast China.

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