|The market is usually quite efficient in assessing the risk of an investment and then applying a suitable, sensible discount.
new abb thread is on ABBN
trust you are well
|control upgrade at the Philippines' largest power plant
2010-09-20 - ABB has upgraded the distributed control system of the largest power generation facility in the Philippines, providing this groundbreaking node in the country's huge gas-to-power project with a broad sweep of benefits and savings.
By ABB Communications
Owned by independent power producer KEILCO, the 1,200 megawatt Ilijan combined-cycle power plant in Batangas City, Philippines went into operation in 2002 and was quickly named one of the world's top 12 power plants by a leading US power industry magazine in 2003.
Ilijan combined cycle power plant is the largest power generation facility in the Philippines and part of the country's gas-to-power project, which uses natural gas from the offshore Malampaya field to generate electricity at Ilijan and two other combined cycle power plants.
"Integrated plant controls based on the ABB distributed control system enable plant operators to run the plant safely and effectively." KEILCO
|ABB successful in bid to acquire 75% stake in its Indian subsidiary
Zurich, Switzerland, July 27, 2010 ABB, the leading power and automation technology group, said today its open offer to increase the stake in its Indian subsidiary from 52.11 percent to 75 percent has been successful.
During the three-week offer period, which closed today, shareholders of ABB India tendered approximately 23 percent of the outstanding shares. ABB will acquire the shares on a proportionate basis since the offer has been oversubscribed by approximately 1.5 percent. The offer of Rs 900 per share, which was announced on May 17, 2010, values the transaction at approximately $965 million (based on foreign exchange rates at the time of the announcement).
The share purchase is aimed at facilitating the long-term development of ABB's business in India.
Assuming all acceptances have been validly tendered, ABB will increase its stake in ABB India from 52.11 percent to 75 percent. The final payment and credit of shares tendered is expected on or before August 10, 2010. A post-offer public announcement, in accordance with local requirements, with details of the shares tendered in the open offer will be published once the acquisition of shares has been completed.
The open offer is being managed by HSBC Securities and Capital Markets (India) Private Limited.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 117,000 people|
|155 million oil and gas order in Kuwait
Turnkey project and automation systems to boost oil transfer facilities in the country
Zurich, Switzerland, June 7, 2010 ABB, the leading power and automation technology group, has won a contract worth $155 million from the Kuwait Oil Company (KOC) for a turnkey project to design and build a new crude-oil transit line and associated ancillary systems.
The project includes the expansion of an existing manifold (a pipeline consolidation installation) at Point A, a location in the north of the country, and the installation of the new transit line. The 123 km, 30-inch-diameter transit line will run between oil fields in the north of the country and a storage facility in the south. It will be equipped with pipeline inspection gauges at 15 km intervals, a leak-detection system and metering stations.
The new installations are designed to transport up to 665 thousand barrels of oil per day from Point A to a tank farm in southern Kuwait. More than half of the oil will come from the newly established Jurassic field in northern Kuwait.
"ABB has the technologies, industry knowledge and experience to deliver this important project to our customers," said Veli-Matti Reinikkala, head of ABB's Process Automation division. "By providing reliable solutions and infrastructure, we help our customers to optimize the productivity and efficiency of their operations."
ABB will be responsible for the design, engineering, procurement, construction supervision, commissioning and start-up of the new system. ABB will also provide an automation system and distributed-control systems, as well as instrumentation, electrical equipment and an emergency-shutdown system. The project is scheduled for completion in spring 2012.|
|ABB wins breakthrough order to supply amorphous dry transformers in China
2010-05-21 - Environmentally friendly transformers with amorphous metal core can reduce CO2 emissions
Zurich, Switzerland, May 21, 2010 ABB, the leading power and automation technology group, has won an order to supply amorphous dry-type transformers from its recently launched EcoDryTM line, for a real estate project being executed by the ZheJiang WanAn Real-Estate Co. Ltd. The transformers will be installed in a residential quarter in Zhejiang province, a coastal area in eastern China that borders the municipality of Shanghai.This is a breakthrough for the company in terms of supplying amorphous dry-type transformers to the Chinese market.
ABB's EcoDry transformers, which are built around amorphous alloy cores, can reduce 'no load' losses by up to 70 per cent and CO2 emissions by as much as 70 tonnes during the life of the transformer. The atomic structure of amorphous metal minimizes no-load losses in transformers when in stand-by or operating mode.
"The Chinese government strongly advocates energy-saving solutions to reduce environmental impact of industry and there is rising demand for high-efficiency, environmentally friendly transformers," said Tarak Mehta, head of ABB's Transformers business unit, a part of the company's Power Products division. "With our EcoDry product range of ultra-efficient dry-type transformers, we offer a solution that can reduce environmental impact and save operating costs."|
|ABB wins power order in Brazil
2010-05-07 - Substations and transformers to strengthen transmission grid and meet growing power demand
Zurich, Switzerland, May 7, 2010 ABB, the leading power and automation technology group, has won an order to supply two new substations and expand two existing substations for Transmissora Delmiro Gouveia (TDG), which is jointly owned by the Brazilian state utility CHESF (part of the Eletrobrás group) and ATP Engenharia, a leading engineering concern. TDG is investing around US$ 130 million in these substations, and ABB has been assigned a significant portion.The order was booked in the first quarter.
ABB will deliver one of the largest transformers ever built in Brazil for the project, providing one of the new substations with twice the transforming capacity of typical substations in the country. ABB will also increase the transforming capacity of two existing substations. The new installation will be located in Ceará and the two extensions in Maranhão, both states in northeastern Brazil.|
|B LTD. (TICKER: ABB) has been off many investors' grids for too long.
Swiss-based ABB, which makes automated technologies for utilities and other industrial clients, had a difficult time throughout the global recession as spending on infrastructure dwindled.
But investor pessimism has opened a window of opportunity for a stock that is highly leveraged to a global upturn, signs of which are already appearing.
ABB's American depositary shares trade at just 13 times forward earnings, with a 2.4% yield. Yet the company is projected to generate earnings growth of well over 30% in 2011.|
trust you are well
i hope you don't mind if i start a new thread
showing ABBN as the new epic
Ann tends to detract from abb as a great share
enjoy your week|
|ABB advanced 2.7 percent to 22.44 Swiss francs. While first-quarter results were "weak," base orders "improved 15 percent sequentially and March showed more positive trends in all divisions," BofA-Merrill Lynch wrote in a note today. The brokerage also said the world's largest builder of electricity networks offers "one of the better long-term growth profiles in the industry."|
ABB's Board of Directors has proposed a dividend for 2009 of 0.51 Swiss francs per share, an increase of 0.03 Swiss francs per share, or 6 percent, compared to the prior year. The Board has also proposed that the dividend takes the form of a reduction in the nominal (par) value of the shares from 1.54 Swiss francs to 1.03 Swiss francs.
The proposal is subject to approval by shareholders at the company's annual general meeting on April 26, 2010. If approved, the ex-dividend and payout date in Switzerland is expected in July 2010.|
|ABB First-Quarter Net Falls as Demand Slumps for Power Products
Share Business ExchangeTwitterFacebook| Email | Print | A A A By Antonio Ligi
April 22 (Bloomberg) -- ABB Ltd., the world's largest builder of electricity networks, reported first-quarter profit that fell more than analysts had estimated as orders and revenue dropped and clients remained hesitant to spend on equipment.
Net income fell 29 percent to $464 million, the Zurich- based ABB company said in a statement today. Analysts surveyed by Bloomberg predicted profit of $508.9 million. Sales decreased 4 percent to $6.93 billion while orders declined 12 percent.
Chief Executive Officer Joe Hogan said ABB had a "challenging" quarter in the power business, with some signs of growth in the automation market. The former General Electric Co. executive said he will continue to focus on cost cuts as restrained customer spending weighs on demand. ABB saved more than $300 million in the first quarter and has a target of wringing $3 billion from the company by the end of this year.
"Given the improving global economy, we're cautiously optimistic that the momentum should continue to build for our short cycle businesses, especially in the emerging markets, driven by increasing industrial production," Hogan, who joined ABB in 2008, said in the statement.
ABB has tapped investment in power stations in emerging markets as the U.S. and other mature economies have been slow to channel stimulus spending into power infrastructure. The shares have risen 19 percent this year in Zurich trading, giving the company a market value of 55 billion francs.
ABB said its so-called base orders, contracts below $15 million that form the backbone of profits, showed the strongest increase since the middle of 2008. Large orders logged in the first quarter included a $144 million contract from Abu Dhabi Transmission & Despatch Co. to expand of a water system.
The Swiss engineering company's results follow those of GE, which reported an 18 percent drop in profit. GE revenue trailed analysts' estimates as sales of large equipment in the energy, aviation and rail industries declined.
To contact the reporter on this story: Antonio Ligi in Zurich at [email protected]
Last Updated: April 22, 2010 00:31 EDT|
|ABB 1Q Net Drops 29% On Lower Volumes, Depressed Pricing
By Goran Mijuk
Of DOW JONES NEWSWIRES
ZURICH (Dow Jones)
ABB Ltd (ABB) Thursday reported a 29% drop in first quarter net profit as lower sales, pricing pressure and revamp charges hurt earnings, but the company said it is confident that the improving global economy should help it going forward.
The Zurich-based firm said net profit for the three months to the end of March fell to $464 million from $652 million a year earlier. The result was below forecast as ABB was also hurt by a $80 million charge in connection to currency movements and derivatives. Twelve analysts polled by Dow Jones Newswires expected net profit of $502 million.
"We had a challenging first quarter on the power side while seeing some encouraging signs of growth in our short-cycle businesses, mainly in the automation markets," said Chief Executive Joe Hogan. "Thanks to the progress we've made on our cost-out program, however, our profitability remains within the target range."
"Given the improving global economy, we're cautiously optimistic that the momentum should continue to build for our short cycle businesses, especially in the emerging markets, driven by increasing industrial production," Hogan added.
Demand remained sluggish in Europe and the U.S., while the performance in emerging markets helped ABB deal with the downfall in industrialized countries. In the past quarter, ABB won orders worth some $100 million in Peru, around $107 million to build power infrastructure in Africa and the Middle East. Large orders worth around $90 million came from Europe.
-By Goran Mijuk, Dow Jones Newswires, +41 43 443 80 47; [email protected].com|
|Morgan Stanley lifts target on ABB to CHF25
Posted on: Mon, 22 Mar 2010 05:29:09 EDT
Symbols: MS, ABB
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Dublin, Mar 19, 2010 (M2 PRESSWIRE via COMTEX) --
22 March 2010 - Morgan Stanley raised Monday its share price target on Swiss-Swedish engineering group ABB Ltd (VTX: ABBN) (STO: ABB | Quote | Chart | News | PowerRating) to CHF25 from CHF23 and rated "equal weight" on the stock.
The broker has upgraded its estimates for ABB's profit for 2010 and 2011 by 5.4% and 7.5%, respectively. With its restructuring programme, the group will be able to compensate for the decline in prices and volume and thereby keep the margins stable.
"We see potential for guidance upgrades in 2010 when the resistance power in the margins becomes visible," Morgan Stanley said.
The broker also sees a chance that ABB will post a surprising order intake next year. The share price target in such a more optimistic scenario is about CHF33, corresponding to an upside potential of some 45% over the current levels.
Last Friday, the shares in ABB closed at CHF22.42, down by 1.84% on the day, on the SIX Swiss Exchange. In Stockholm, the stock had lost 1.37% to SEK150.80.
(EUR1 = CHF1.4, EUR1 = SEK9.7)
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For full details on Morgan Stanley (MS) MS. Morgan Stanley (MS) has Short Term PowerRatings at TradingMarkets. Details on Morgan Stanley (MS) Short Term PowerRatings is available at This Link.
For full details on Abb Ltd (ABB) ABB. Abb Ltd (ABB) has Short Term PowerRatings at TradingMarkets. Details on Abb Ltd (ABB) Short Term PowerRatings is available at This Link.|
|ABB surged 1.6 percent to 22.52 francs. Citigroup lifted its share-price estimate to 27 francs from 23 francs, citing "attractive longer-term growth prospects."|
|ABB Taps Emerging Markets, Guards Cash to Escape 'Thunderstorm'
Share Business ExchangeTwitterFacebook| Email | Print | A A A By Antonio Ligi
Feb. 23 (Bloomberg) -- ABB Ltd. Chief Executive Officer Joe Hogan plans to expand in Brazil and India and remain selective with acquisitions, saying Europe and the U.S. may need more time to emerge from the steepest economic slump in half a century.
The company identified $1 billion in additional savings until the end of this year, underscoring ABB's reluctance to call an economic recovery, Hogan said. Zurich-based ABB, the world's biggest maker of power-transmission equipment, will move more jobs to emerging economies, where growth will remain above 10 percent and costs are lower, he said in an interview.
"Right now it's like we're flying through a thunderstorm, and you just want to get out the other end," Hogan said yesterday in London. "I think too much of the world is thinking we're back to 2007. It's a natural reflex, but I don't know if we're back to where we were."
ABB received more orders from emerging economies than from so-called mature markets in the fourth quarter. Hogan, 52, predicted the majority of the company's workforce will shift to regions that include India, China and Russia in the next 18 months, from 45 percent now, as ABB scales back its operations in countries such as France, Ireland and Sweden.
The Swiss company joins competitors including Siemens AG, which said on Jan. 26 that it's not "out of the woods yet," and that some markets have yet to recover. Siemens, which competes with ABB in areas including power transmission and factory automation, has trimmed expenses by merging plants, cutting back office costs and eliminating 10,000 jobs.
ABB said Feb. 18 that it aims to cut costs by $3 billion by the end of 2010, 50 percent more than previously planned, to meet profit targets as customers remain hesitant to invest. The company aims for an operating margin of 11 percent to 16 percent, a target that will come up for review after next year.
Most of the additional savings will come from better purchasing and sourcing of materials as well as adjusting factories to lower-cost production. Hogan, who joined from General Electric Co. in 2008, said one gauge of productivity he watches is revenue per employee. In 2008, sales for each worker stood at about $291,000. That compares with about $175,000 five years earlier, according to data compiled by Bloomberg.
ABB had net cash of $7.2 billion at the end of the fourth quarter. The reserves has fueled speculation ABB will seek acquisitions as the global recession cut the values of potential targets. Hogan said he doesn't feel pressure to strike, and that acquisitions may be smaller.
"There aren't a lot of things out there," he said. "We will look opportunistically at targets."
While ABB doesn't plan to expand into new business areas, Hogan said the company's reach in the U.S. and in the rest of the Americas still needs to improve. Hogan said he would let the operating margin temporarily slip below his target corridor to absorb a purchase.
The last time ABB spent more than $1 billion was in 1998, with the takeover of Elsag Bailey Process Automation NV for $2.1 billion from Finmeccanica SpA. ABB itself is the result of a merger of BBC Brown Boveri of Switzerland and ASEA AB of Sweden in 1988. The company makes components to transmit and distribute electricity, motors and generators, as well as factory robots.
Hogan said ABB's portfolio is in "good shape" and that he doesn't intend to dispose of the robotics business, the only division to report an operating loss in the fourth quarter as carmakers scale back investment in equipment.
Hogan said he plans to expand robots beyond the automotive industry as the machines become more sophisticated, according to the CEO. ABB created two new divisions this year to help facilitate a better integration of the robotics unit into other areas, the biggest realignment of ABB's operations yet under Hogan's tenure.
"We have done major surgery and we think the patient is now stable," Hogan said of the robotics unit.
For Related News and Information: Top Stories: TOP Company News: ABBN VX CN
Last Updated: February 22, 2010 19:01 EST|
|ABB 4Q Net Profit Jumps To $540 Million, Increases Dividend
By Goran Mijuk
Of DOW JONES NEWSWIRES
ZURICH (Dow Jones)
ABB Ltd. (ABB) Thursday reported a more than twofold rise in fourth quarter net profit on the absence of crippling charges and as the Switzerland-based electrical engineering company benefited from cost cutting.
The company said net profit for the three months to the end of December rose to $540 million, up from $213 million a year earlier when the company had to make legal provisions and take revamp charges. The figure beat the $447 million forecasts of 11 analysts polled by Dow Jones Newswires.
"By acting quickly and decisively, we delivered a 2009 result well within our profitability target," said Chief Executive Joe Hogan.
Thanks to strict cost controls and financial management, the company also boosted its operating cash flow 30.9% to $1.78 billion from $1.36 billion a year earlier, allowing ABB to lift its dividend 6% to CHF0.51 Swiss francs ($0.46) per share, up from CHF0.48.
Looking ahead, Hogan said: "We'll continue to aggressively pursue growth in emerging markets...and at the same time, cost will remain a key focus."
ABB said it will expand its cost savings target to $3 billion, up from about $2 billion previously.
ABB's order development was strong. In the fourth quarter, orders rose 4% to $7.45 billion from $7.18 billion, partly helped by the weak dollar and still healthy demand in Asia. Orders are closely watched by the market as they indicate future revenue streams.
Revenue, meanwhile, fell 4% to $8.76 million from $9.14 billion a year earlier.
-By Goran Mijuk, Dow Jones Newswires, +41 443 80 47; [email protected].com|
February 18 Fourth-quarter and full-year 2009 results
April 22 First-quarter 2010 results
April 26 Annual General Meeting Zurich, Switzerland
April 27 Annual Information Meeting Västerås, Sweden
July 22 Second-quarter 2010 results
October 28 Third-quarter 2010 results|
|trust you are well She
and you have a great 2010|
|ABB wins $104 million power order in UAE
Zurich, Switzerland, Feb. 9, 2010 - ABB, the leading power and automation technology group, has won an order worth $104 million from FEWA (Federal Electricity & Water Authority) in the United Arab Emirates to supply substations that will help increase power supplies in the north to meet a growing demand for electricity. The order was booked in the first quarter of 2010.|
|ABB (ABB): Decades Of Growth For Infrastructure Leader
By: TheStockAdvisors.com Wednesday, January 27, 2010 9:40 AM
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"It is estimated that countries around the world are set to spend between $25 and $30 trillion of fresh infrastructure investment over the next two decades," says Keith Fitz-Gerald
In his The Money Map Report, he explains, "As the de facto global leader providing all things related to power and automation technology, ABB Ltd. (NYSE: ABB: 18.79, 0.27) is poised to potentially ride a 20-year wave of extraordinary profits."
"Creating, managing, and delivering electricity really amounts to the critical lifeblood of a city, a region, or a specific site project.
"And because of that, governments and industries alike aren't very likely to stray away companies with bulletproof track records.
"The stakes are just too high to take a chance on anyone other than the very best - and ABB definitely qualifies as one of the very best in the world at what it does.
"For example, Zurich-based ABB recently won an order worth $48 million from the SEPCO III Electric Power Construction Corporation - a leading Chinese EPC (Engineering, Procurement, Construction) company.
"The deal will entail ABB to deliver a substation for a new power plant in Saudi Arabia that will deliver electricity from the 1,200 megawatt Rabigh power plant located 150 kilometers north of Jeddah to industrial and residential customers in the region.
"For the project, ABB will design, supply, install and commission the 380 kilovolt (kV) substation, which will include gas-insulated switchgear, a range of circuit breakers including the generator circuit breaker as well as the control, protection and telecommunication equipment necessary to keep the stuff humming - pun absolutely intended.
"Substations like the one ABB will build in Saudi Arabia are key installations in the power grid. When complete, the substations transform voltage levels and facilitate efficient transmission and distribution of electricity.
"And as everyone knows, having reliable electricity is at the key of any properly functioning city - or countryside, or desert for that matter.
"Currently ABB is the world's leading supplier of air- and gas-insulated substations, with more than 10,000 installed worldwide. It is the company's worldwide reach that puts them at the forefront of the "global" infrastructure build-out forecasted for the next 20 years - and in our portfolio.
"Further, in December, ABB announced that the company had won a $70 million order from Transport for London, to build a new bulk supply point substation to power the London underground rail system.
"The project is part of London's plan to upgrade power supply to the underground railway lines and support the introduction of new rolling stock.
"As part of the project, ABB will design, supply, install and commission the substation along with supplying products that include 22 kilovolt (kV) and 11kV switchboards as well as coupling transformers.
"In addition, ABB will install about 20 kilometers of 22kV and 11kV power cable in the tunnels and ducts.
"Both of these projects underscore a couple of ABB's fundamental strengths: extensive experience in the specific project types and a familiarity with the local project by virtue of already having worked in the region.
"Both of those are huge benefits for ABB because of the high dollar amounts of the projects and the high importance of the projects to the surrounding communities.
"If you are new to the Money Map Report, or if you haven't already done so, take this opportunity to begin assembling a position in ABB, and plan on holding on to the position for at least 12 months, maybe even as long as 20 years. We think you'll be as happy with the results."|