Corporate timeline of ABB Ltd., tracing its founding from the merger of ASEA and BBC, key technological and industrial breakthroughs, international expansion, major mergers and acquisitions, leadership changes, and strategic restructuring from 1988 to the present.
ASEA (Sweden) and BBC (Switzerland) merge to create ABB, a global leader in power and automation technologies. #corporate #merger
Percy Barnevik is appointed as the first CEO of ABB, driving rapid expansion through acquisitions and decentralization. #leadership #strategy
ABB acquires Combustion Engineering, a US power equipment company, gaining access to the American market but later facing asbestos liabilities. #acquisition #expansion
ABB acquires Westinghouse's Transmission & Distribution business, strengthening its position in North America. #acquisition #energy
ABB enters Eastern European markets following the fall of the Soviet Union, establishing joint ventures and factories. #expansion #globalization
ABB introduces advanced gas-insulated switchgear, setting new standards for high-voltage power transmission. #innovation #engineering
ABB launches the IRB 6400 industrial robot, enhancing manufacturing automation and robotics capabilities. #robotics #automation
ABB sells its rail transportation division (Adtranz) to Daimler-Benz, exiting the rolling stock market. #divestiture #restructuring
ABB sells its power generation business to Alstom, focusing on power grids and automation. #divestiture #strategy
ABB acquires BICC Group's cables division, expanding its cable and wiring product portfolio. #acquisition #cables
ABB faces major financial strain due to asbestos claims from Combustion Engineering, leading to a significant stock drop. #crisis #liability
Jürgen Dormann replaces Percy Barnevik as CEO, tasked with restructuring the company and resolving asbestos issues. #leadership #turnaround
ABB reaches a settlement for asbestos claims and initiates a major restructuring to stabilize finances. #restructuring #legal
Fred Kindle is appointed CEO, continuing the turnaround strategy and focusing on operational efficiency. #leadership
ABB acquires Baldor Electric, a US motor and drive manufacturer, strengthening its industrial automation segment. #acquisition #automation
ABB wins a major contract to supply HVDC (High-Voltage Direct Current) technology for a power link in China, showcasing its leadership in long-distance power transmission. #energy #HVDC
ABB acquires Kuhlman Electric, a US transformer manufacturer, expanding its transformer portfolio. #acquisition #transformers
Joe Hogan takes over as CEO, driving growth in emerging markets and digital solutions. #leadership #growth
ABB introduces a new eco-efficient transformer, reducing energy losses and environmental impact. #innovation #sustainability
ABB acquires Ventyx, an energy software company, to enhance its software and digital services offering. #software #acquisition
ABB acquires Thomas & Betts, a US electrical components manufacturer, expanding its low-voltage product line. #acquisition #electrical
ABB acquires Power-One, a solar inverter manufacturer, entering the renewable energy market. #renewables #acquisition
ABB introduces YuMi, a collaborative dual-arm robot designed for safe human-robot interaction in assembly tasks. #robotics #innovation
Ulrich Spiesshofer is appointed CEO, leading ABB's digital transformation and the 'Next Level' strategy. #leadership #digital
ABB acquires GE Industrial Solutions, expanding its electrification portfolio in North America. #acquisition #electrification
ABB acquires B&R Automation, a leading provider of machine and factory automation, strengthening its industrial automation software. #automation #acquisition
ABB announces its 'Next Level' strategy, focusing on digitalization, electrification, and automation. #strategy #digitalization
ABB announces the sale of its Power Grids division to Hitachi, marking a major shift focus on electrification and automation. #divestiture #restructuring
Björn Rosengren becomes ABB CEO, initiating a new decentralization strategy and portfolio simplification. #leadership #strategy
ABB announces the sale of mechanical power transmission (Dodge) and motor (Baldor) businesses as part of portfolio streamlining. #divestiture #restructuring
ABB completes the sale of its Power Grids division to Hitachi, finalizing a major strategic shift. #divestiture #completion
ABB expands its ABB Ability digital platform, integrating IoT and AI for industrial customers. #digitalization #IoT
ABB sharpens focus on electrification and automation segments, divesting non-core assets and investing in R&D. #strategy #focus
ABB reports robust earnings driven by demand for electrification and automation solutions in energy transition and manufacturing. #financials #growth