ABB

ABB is a global diversified technology leader at the forefront of digital industries, driving the transformation of the industry and societal infrastructure.

Categories

Industrial Manufacturing  
Energy and Utilities  

#211

Rank

$69.02B

MarketCap CH

CH Switzerland

Country

Summary

ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions. The company's Robotics & Discrete Automation segment offers industrial robots, software, robotic solutions and systems, field services, spare parts, and digital services. This segment also offers solutions based on its programmable logic controllers, industrial PCs, servo motion, transport system, and machine vision. Its Motion segment manufactures and sells drives, motors, generators, traction converters, and mechanical power transmission products that are driving the low-carbon future for industries, cities, infrastructure, and transportation. The company's Process Automation segment provides process and discrete control technologies, advanced process control software and manufacturing execution systems, sensing, measurement and analytical instrumentation, marine propulsion systems, and large turbochargers. In addition, this segment offers remote monitoring, preventive maintenance, asset performance management, emission monitoring, and cybersecurity services. It serves aluminum, automotive, buildings and infrastructure, cement, channel partners, chemical, data centers, food and beverage, process automation, life sciences, marine and ports, metals, mining, oil and gas, ports, power generation, printing, pulp and paper, railway, smart cities, water, and wind power industries. The company was founded in 1883 and is headquartered in Zurich, Switzerland.


History

ABB is a Swedish-Swiss technology company and one of the largest engineering firms in the world. Founded in 1883, ABB has a long and illustrious history of technological innovation, including pioneering contributions to the development of electrical engineering and automation. ABB was founded as “Brown, Boveri & Cie” by Charles Eugene Lancelot Brown and Walter Boveri in Baden, Switzerland, in 1883. They had a shared vision to revolutionize the way electricity was generated and used in industry. In 1894, the two partners opened a factory for making large electric motors in Oerlikon, Switzerland and began supplying mills, mines, and buildings with power systems. By the turn of the century, the company had become a global player in the electrical engineering industry. Between 1906 and 1920, ABB made major advancements in the field of power transmission, including the development of the world’s first high voltage direct current (HVDC) transmission system. This system would go on to become one of ABB’s most successful products and is still in use today. In 1929, ABB was the first company to build a large-scale transmission grid, known as the Baltic HVDC Line. This marked the beginning of a significant era of growth for the company. In the 1970s, ABB pioneered advanced digital technology and robotics, introducing the world's first industrial robot, called the IRB 6, in 1973. This robot heralded the start of the industrial automation revolution. Over the next few decades, ABB continued to grow, both organically and through acquisitions, and today is one of the world's leading power and robotics companies. It continues to invest heavily in research and development and is pushing the boundaries of electrical engineering.


Mission

Creating value for our customers through digital leadership, developing new products that drive sustainable progress and create innovative solutions that empower people and advance industry.


Vision

ABB will lead in the digital industries of the future powered by our strong innovation heritage and technology leadership.


Key Team

Peter Terwiesch (President-Industrial Automation Division)

Sami Atiya (President)

Alex Hall (Group Senior VP)

Carolina Yvonne Granat (Chief Human Resources Officer)

David Edward Constable (Member of The Compensation Committee)

David W. Meline (Board Member)

Frederico Fleury Curado (Chairman of The Compensation Committee)

Geraldine Matchett (Member of The Finance)

Jacob Wallenberg (Board Member)


Recognition and Awards
ABB reward and recognizes people who have delivered excellent results with a strong culture of continuous learning, unyielding commitment and commitment to customer service excellence.

References
ABB
Leadership team

Peter R. Voser (Chairman)

Tarak Mehta (President)

Industries

Industrial Manufacturing

Energy and Utilities

Number of Employees
Above 50,000
Headquarters
Zürich, Switzerland
Established
1988
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001137634
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
ABB
Social Media

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Sat Feb 24 2024
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