- published: 26 Jun 2012
- views: 1076331
ABB is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland, operating in robotics and mainly in the power and automation technology areas. It ranked 143rd in Forbes Ranking (2010).
ABB is one of the largest engineering companies as well as one of the largest conglomerates in the world. ABB has operations in around 100 countries, with approximately 135,000 employees in April 2012, and reported global revenue of $31.6 billion for 2010.
ABB is traded on the SIX Swiss Exchange in Zürich and the Stockholm Stock Exchange in Sweden since 1999, and the New York Stock Exchange in the United States since 2001.
ABB resulted from the 1988 merger of the Swedish corporation Allmänna Svenska Elektriska Aktiebolaget (ASEA) and the Swiss company Brown, Boveri & Cie (BBC); the latter had absorbed the Maschinenfabrik Oerlikon in 1967. CEO at the time of the merger was the former CEO of ASEA, Percy Barnevik, who ran the company until 1996.
ABB's history goes back to the late nineteenth century. ASEA was incorporated by Ludwig Fredholm in 1883 and Brown, Boveri & Cie (BBC) was formed in 1891 in Baden, Switzerland, by Charles Eugene Lancelot Brown and Walter Boveri as a Swiss group of electrical companies producing AC and DC motors, generators, steam turbines and transformers.
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