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ABB Ltd, a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland, was formed in 1988 through the merger of Sweden's Allmänna Svenska Elektriska Aktiebolaget and Switzerland's Brown, Boveri & Cie, now known simply as ABB. The company is a global technology leader in electrification and automation, striving to create a more productive and sustainable future. ABB operates in over 100 countries and employs approximately 105,000 people.
ABB’s operations span four major business areas: Electrification, Process Automation, Motion, and Robotics & Discrete Automation. Through these divisions, ABB offers a wide range of products and solutions, including electric vehicle infrastructure, robotics, automation systems, and energy management solutions. ABB is committed to pushing the boundaries of technology to drive performance to new levels, leveraging its software capabilities to enhance its electrification, robotics, and automation portfolios.
Recent achievements highlight ABB’s robust growth and innovation strategies. In 2022, ABB reported strong demand and operational performance with orders amounting to $8.8 billion, marking a 10% increase, and revenues of $7.3 billion. The company's operational EBITA stood at $1,136 million with a margin of 15.5%. ABB has announced expansions and investments across its operations, including a $20 million investment to expand its robotics headquarters in Michigan and a $40 million investment to open a new manufacturing facility in Albuquerque, New Mexico to meet increased demand for grid resilience solutions.
ABB has also underscored its commitment to sustainability by reducing its own greenhouse gas emissions by 65% since 2019 and working towards a low-carbon society. The company continues to innovate in energy efficiency, evident in its collaboration with Lumin to enhance home energy management solutions. Through strategic initiatives, ABB aims to support industry decarbonization and improve energy efficiency, solidifying its leadership in the transition to a sustainable energy future.
ABB’s stock is publicly traded on the SIX Swiss Exchange under the symbol ABBN. The company continues to focus on expanding its market presence and driving growth through innovation, strategic partnerships, and a commitment to sustainability.
ABB has announced the acquisition of Aurora Motors, a $4 million U.S. Vertical Pump Motors provider with operations in Shanghai and California. Aurora Motors serves customers in 30 countries across agriculture, municipality, industrial, and fire protection sectors. The acquisition, expected to close by end of 2024, enhances NEMA's product portfolio and global market presence. This strategic move is part of ABB's Motion Business area's growth strategy, strengthening their position in the $3.4 billion NEMA motor industry. The deal will expand ABB's supply chain and improve global customer support, though financial terms weren't disclosed.
ABB is investing approximately $170 million in the U.S., aiming to meet rising demand for electrification and automation products. This includes new facilities in Wisconsin to enhance production capacity and create 300 new jobs across various states. The investment is bolstered by support from the Inflation Reduction Act; 85% of ABB's U.S. sales are from locally produced products. ABB's U.S. operations contribute 24% to its annual revenue, with ongoing projects projected to improve supply chain security and reduce delivery times by 50%. The company has invested $14 billion in U.S. expansions since 2010.
ABB announced a $40 million investment to establish a new manufacturing facility in Albuquerque, New Mexico, aimed at supporting the U.S. Utility sector. This 90,000-square-foot facility will create 55 jobs and enhance production of high-demand Elastimold® cable accessory solutions, crucial for grid resilience and safety. Set to be completed in 2024, it will utilize ABB Robotics technology to produce over 1 million additional units annually, primarily for U.S. customers. This investment strengthens ABB's commitment to the U.S. market, contributing to infrastructure improvements and increasing the company’s manufacturing capacity.
ABB announced a $20 million investment to expand its robotics facility in Auburn Hills, Michigan, enhancing its leadership in US automation. The project, which is set to open in November 2023, will create 72 skilled jobs and is supported by a $450,000 business development grant. The expansion aims to meet growing demand from US businesses for automation solutions, driven by labor shortages and the trend of reshoring production. Since 2010, ABB has invested $14 billion in the US, with this facility expected to produce a significant portion of robots for the Americas. The upgrade will incorporate advanced manufacturing technologies and AI-enabled systems.
ABB Ltd has filed the European Single Electronic Format (ESEF) version of its 2022 annual reports with the Swedish Financial Supervisory Authority. The reports, available electronically via go.abb/reports, present no material differences from reports released on February 24, 2023. ABB continues its focus on electrification and automation, with over 105,000 employees committed to driving industrial innovation.
ABB has released its first integrated report, showcasing its 2022 financial and sustainability performance. The report highlights a remarkable 65% reduction in company GHG emissions since 2019 and introduces new mid-term sustainability targets for 2025, aiming for a 70% reduction in its own emissions and a 20% reduction from main suppliers. The report reflects ABB’s commitment to sustainability amidst global challenges, underlining achievements in workplace safety and gender diversity. The integrated report aligns with multiple international standards, providing transparency on its financial and sustainability objectives.
ABB has announced its Annual General Meeting (AGM) scheduled for March 23, 2023. The invitation is available at www.abb.com/agm. With a legacy of over 130 years, ABB is recognized as a technology leader in electrification and automation, employing approximately 105,000 individuals. The company focuses on sustainable and resource-efficient solutions, combining engineering expertise with software to optimize manufacturing, mobility, energy, and operations. For more details, visit here.
ABB reported a strong Q4 2022 with orders totaling
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