ABB Inc.

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ABB Inc
ABB logo.png
Founded 1 January 1988
Headquarters Västerås, Sweden and Zürich, Switzerland
Industry Electrification and automation
Area Served Worldwide
Key People Peter Voser (Chairman) Björn Rosengren (CEO)
Market Capital $62.01 billion (2023)
Annual Revenue $31.252 billion (2023)
Operating Income $4.38 billion (2023)
Net Income $906 Million (2023)
Total Assets $19.6 billion (2023)
Total Equity $13.2 billion (2022)
Owners Investor AB (14.10%)

Cevian Capital AB (5.704%)

(as of Jun 2023)

Number of Employees 105,130
Website https://global.abb/
Social Media [1], [2]
Notes Specializes in technology leader in electrification and automation.



ABB Inc.

Overview

Founded in 1988, ABB, short for Asea Brown Boveri, is a pioneering multinational corporation renowned for its cutting-edge technology, innovation, and sustainable solutions. Headquartered in Zurich, Switzerland, ABB operates in more than 100 countries and has established itself as a global leader in electrification, robotics, automation, and motion. The company's commitment to transforming industries through digitalization and sustainability has cemented its position as a driving force in the energy and industrial sectors.

ABB's diverse portfolio includes products and services that span various industries, including utilities, transportation, infrastructure, and manufacturing. By offering a wide array of solutions, such as electric vehicle charging infrastructure, renewable energy integration, and intelligent automation systems, ABB contributes significantly to the progression of smart technologies and green initiatives.

The company's core values center around safety, sustainability, and quality, ensuring that its products and services not only meet industry standards but also align with environmental responsibility. ABB's mission is to empower customers with state-of-the-art technologies that enhance efficiency, reliability, and productivity while reducing environmental impact.

History

The history of ABB is a narrative marked by innovation, strategic mergers, and a relentless pursuit of technological advancement. ABB originated from the merger of two engineering giants, ASEA (Allmänna Svenska Elektriska Aktiebolaget) of Sweden and Brown, Boveri & Cie of Switzerland in 1988. This union formed a company that rapidly became a powerhouse in the field of power and automation technologies.

The roots of ASEA can be traced back to the late 19th century when it was founded in 1883 in Sweden. ASEA played a pivotal role in pioneering electrical engineering, contributing significantly to the electrification of industries, rail transport, and the development of power generation systems.

On the other hand, Brown, Boveri & Cie, established in Baden, Switzerland, in 1891, specialized in the production of electrical equipment and power generation systems. The company quickly gained recognition for its innovative engineering solutions and became a prominent force in the power industry.

The merger between ASEA and Brown, Boveri & Cie resulted in the formation of ABB, a company with an extensive global reach and a robust portfolio of products and services. ABB's early years were characterized by a focus on technological advancements, leading the way in power grids, robotics, and automation systems.

Over the years, ABB has continually expanded its capabilities and offerings through strategic acquisitions and a commitment to research and development. The company has pioneered transformative technologies, including the world's first HVDC (High Voltage Direct Current) link between continents and cutting-edge robotics used in various industries.

Today, ABB stands as a frontrunner in digitalization and sustainable technology solutions. The company's dedication to innovation and sustainability has led to the development of advanced systems for smart cities, renewable energy integration, and the electrification of transportation, fostering a world that is more efficient and environmentally conscious.

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Contact Information

Phone Number: DE - 0844 845 845 FR - +41 84 48 458 45

Email Address: [email protected]

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