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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 signed a framework agreement with Zume to produce 100% compostable packaging from plant-based materials. Using ABB robots, Zume aims to automate the production process, reducing reliance on single-use plastics. Under the agreement, more than 1,000 manufacturing cells will be implemented worldwide over five years, potentially producing billions of sustainable packaging pieces annually. This partnership is part of an effort to alleviate global plastic waste, as less than 10% of produced plastic is recycled. ABB's advanced robotics are positioned to enable cost-effective sustainable packaging solutions.
ABB reported Q3 2021 with strong demand reflected in orders of
ABB has launched the Terra 360, an innovative all-in-one Electric Vehicle (EV) charger capable of fully charging vehicles in under 15 minutes. This modular charger can charge up to four vehicles simultaneously with a maximum output of 360 kW, making it ideal for various applications, including retail and fleet charging. The Terra 360 is set to be available in Europe by the end of 2021 and in the USA, Latin America, and Asia Pacific in 2022. ABB continues to lead in the EV infrastructure market, having sold over 460,000 chargers globally.
ABB has partnered with Lightning eMotors to provide a range of DC fast chargers, between 20 kW and 350 kW, specifically for commercial electric fleet vehicles. Available for immediate order through Lightning Energy, these interoperable chargers promise around-the-clock connectivity and robust remote service capabilities. Lightning eMotors will incorporate ABB's technology into its fleet electrification solutions, which include comprehensive services from charging hardware to management software. Since 2010, ABB has sold over 400,000 electric vehicle chargers globally, showcasing its commitment to enhancing e-mobility.
ABB Ltd has announced the expiration of its cash tender offer for two bond series, specifically the 3.800% Notes due 2028 and 4.375% Notes due 2042. The tender offer, which ended on October 30, 2020, saw valid tenders of approximately US $366.8 million for the 2028 notes and US $140.5 million for the 2042 notes. Payment for these notes is expected on November 4, 2020. The offer was facilitated by Merrill Lynch International and HSBC Bank plc, with D.F. King & Co., Inc. acting as the tender agent.
ABB Ltd announced the total consideration for its cash tender offer for the 3.800% Notes due 2028 and 4.375% Notes due 2042. The total considerations for the Notes are $1,193.72 for the 3.800% Notes and $1,325.34 for the 4.375% Notes, as calculated today. The Offer expires at 5:00 p.m. NYC time on October 30, 2020. Holders whose Notes are accepted will receive accrued interest up until November 4, 2020. Results will be announced on November 2, 2020. ABB emphasizes that the Offer is subject to certain conditions and urges holders to review the Offer to Purchase.
On October 26, 2020, ABB Ltd announced a cash tender offer for all outstanding 3.800% Notes due 2028 and 4.375% Notes due 2042. The total principal amount for each series is $750 million. This initiative aims to manage ABB's debt portfolio more effectively, reduce future interest expenses, and enhance liquidity for noteholders. The offer is set to expire on October 30, 2020, by 5:00 PM New York City time, with results expected to be announced on November 2, 2020.
ABB Electrification’s Installation Products division has launched shipments from its new 400,000 square foot Distribution Center in Phoenix, Arizona. This facility will serve the western U.S., creating over 100 jobs and enhancing delivery times for key electrical products. Fully operational by Q3 2020, the center will stock more than 2,000 products, significantly improving lead times for contractors and builders. This expansion aligns with ABB’s commitment to customer service and business growth, leveraging its extensive product portfolio.
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