Key Developments: ABB Ltd (ABB)
17.97USD
9 Feb 2010
$0.67 (+3.87%)
$17.97
--
$18.23
$17.59
4,882,725
4,235,867
$22.01
$10.88
Latest Key Developments
ABB Ltd. Wins USD 104 Million Power Order in UAE
ABB Ltd. announced that it has won an order worth USD 104 million from FEWA (Federal Electricity & Water Authority) in the United Arab Emirates (UAE) to supply substations that will help increase power supplies in the north to meet a growing demand for electricity. The order was booked in the first quarter of 2010.
European Commission Carries Out Investigations At Some Of ABB Ltd.'s Offices In Sweden-DJ
Dow Jones reported that European Commission has carried out investigations at some of ABB Ltd.'s offices in Sweden. ABB Ltd. confimed that investigations have been carried out by the European Commission at the premises of ABB's FACTS, or flexible alternating current transmission systems, business in Sweden. ABB declined to comment further.
ABB Ltd. and IBM Sign New Agreement
ABB Ltd. announced that the Company and IBM have signed a new agreement that will transform ABB Ltd.'s Information Systems (IS) infrastructure across 17 countries in Europe, North America and Asia Pacific. IBM will provide server and network management, as well as end user and help desk services for the majority of ABB Ltd.'s IS infrastructure operations.
ABB Ltd. Wins USD 48 Million Substation Order for Saudi Power Plant
ABB Ltd. announced that it has won an order worth USD 48 million from the SEPCO III Electric Power Construction Corporation, a Chinese EPC (Engineering, Procurement, Construction) company, to deliver a substation for a new power plant in Saudi Arabia. The order was booked in the fourth quarter of 2009.
ABB Ltd. Receives South African Order Worth $54 Million-DJ
Dow Jones reported that ABB Ltd. has received an order worth $54 million from South African utility Eskom. ABB will improve reliability and energy efficiency at three of Eskom's power plants. Each plant has six generating units and a capacity of about 4,000 megawatts.
ABB Ltd. Realigns Automation Divisions To Enhance Growth Opportunities
ABB Ltd. announced that it is reorganizing its automation divisions to align their activities more closely with those of its customers. Effective January 1, 2010, the business units currently in the Automation Products and Robotics divisions will be regrouped into two new divisions, Discrete Automation and Motion, and Low Voltage Products. The Process Automation division will remain unchanged except for the addition of the instrumentation business from the Automation Products division. The new divisions will be comprised as follows; the new Low Voltage Products division includes businesses producing mainly low-voltage electrical equipment that is sold to wholesalers, original equipment manufacturers as well as system integrators, and has moderate service requirements. The new Discrete Automation and Motion division includes products and systems targeted at discrete manufacturing applications, such as robotics and programmable logic controllers (PLCs), and providing motion in plants, such as motors and drives. The reorganization of the automation businesses will be accompanied by several related leadership changes as of January 1, 2010.
Fortum Oyj and ABB Ltd. to Start Research and Development Cooperation in Smart Grids
ABB Ltd. announced that it is to start a joint development project to design with Fortum Oyj and install urban smart electricity grid in a new district in the city of Stockholm. Building is planned to commence in 2010 and the housing ready for occupancy in 2011. Additionally, Fortum and ABB are involved in Finland in CLEEN Oy’s research program Smart Grids and Energy Market.
ABB Ltd. Wins USD 75 Million Power Order in Canada
ABB Ltd. announced that it has won an order worth USD 75 million from Hydro-Qubec for static VAr compensators (SVCs) - equipment which enables quick responses to electrical disturbances in the grid and contributes to restoring its stability.
ABB Ltd. Wins $120 Million Saudi Arabian Order-DJ
Dow Jones reported that ABB Ltd. said it has received an order worth $120 million from Saudi Arabia. ABB Ltd. will provide power to Saudi Arabia's university for women, the Princess Nourah bint Abdulrahman University, in the country's capital Riyadh. Order from the Saudi Electricity Company. ABB Ltd. will deliver three gas-insulated switchgear substations. The project is scheduled for completion by 2011, and includes delivery of products such as gas-insulated switchgear, transformers, medium-voltage switchgear and auxiliary systems.
ABB Ltd. Provides Power, Propulsion and Automation Solution for Argentine Icebreaker
ABB Ltd. announced that it will provide power, propulsion and automation solution for the Almirante Irizar, Argentina’s sole icebreaker. ABB is supplying a complete power plant and electric propulsion system, as well propulsion and vessel control systems, engineering, installation, commissioning and training.
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