Abb Share Discussion Threads

[grupo guitarlumber] 02/7/2009 05:32

ABB initiated with "outperform"
07/01/09 - Robert W. Baird
NEW YORK, July 1 (newratings.com) - Analysts at Robert W Baird initiate coverage of ABB Ltd (ABB) with an "outperform" rating. The target price is set to $20.

In a research note published this morning, the analysts mention that the company's growth prospects are expected to be driven by its presence in the emerging markets and broad exposure to global stimulus spending. ABB's 2Q earnings are, however, likely to be disappointing, in the wake of poor orders, Robert W Baird says. The situation represents a trough position, the analysts add.

[waldron] 24/6/2009 09:40

ABB Gets $52Mln Order For Power Products For Plant In India





Edited Press Release
ZURICH -(Dow Jones)- Swiss engineering company ABB Ltd.(ABB) won orders worth $52 million to provide power products and solutions for a supercritical coal-fired power plant in the southern Indian state of Andhra Pradesh.

The contract was awarded by Tata Projects Ltd, the engineering, procurement and construction contractor for the Balance of Plant related to the 2x800 megawatt Krishnapatnam thermal power plant.

The plant will be the first in India to deploy super-critical technology on such a large scale. The technology achieves more efficient power generation, and therefore lower CO2 emissions, by using higher steam temperatures and pressures than conventional plants.

"This power plant will meet growing demand for electricity in the region and support economic growth with a reliable supply of power," said Peter Leupp, head of ABB's Power Systems division. "ABB's products and systems also contribute significantly to safe and efficient power generation and transmission with lower emissions."

Under the terms of the contract, ABB will provide an integrated electrical balance of plant (eBoP) solution, including transformers, switchgear and protection equipment, as well as a 400-kilovolt turnkey substation to facilitate power transmission from the plant.

ABB will also provide system engineering, installation, testing, commissioning and overall project management. The project, which is scheduled for completion in 2012, is being executed by APPDCL (Andhra Pradesh Power Development Company Limited).

Company Web Site:

-Zurich Bureau, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 22/6/2009 13:42

cheers She

[sheeneqa] 22/6/2009 13:35

ABB wins $31 million power plant equipment order in Egypt
Zurich, Switzerland, June 18 - ABB, the leading power and automation technology group, has won an order worth $31 million from West Delta Electricity Production Company in Alexandria for products to equip a new power plant that will help meet growing demand for electricity in Egypt.


ABB wins $28 million order to power seawater-desalination plant
2009-06-22 - World's largest reverse osmosis seawater desalination plant with capacity of 500,000 cubic meters per day to provide drinking water for 5 million people

Zurich, Switzerland, June 22, 2009 – ABB, the leading power and automation technology group, has won an order worth $28 million from environmental solutions company Hyflux for a turnkey electrical solution to power the world's largest membrane based reverse osmosis seawater desalination plant.

The Magtaa desalination plant is being constructed in the western Oran region of Algeria. It will have a designed capacity of 500,000 cubic metres per day of drinking water to serve about 5 million people. The project is part of the Algerian government's effort to provide clean drinking water to its growing population.

As part of the contract, ABB will set up a 220kV outdoor substation to provide power to the facility and also supply products such as power transformers, medium-voltage drives and a range of medium and low-voltage switchgear. ABB will be responsible for the design, engineering, supply, installation and commissioning of the electrical plant system. The project is scheduled for completion by 2011.

ABB wins $52 million power order in Brazil
Power transformers to help interconnect and strengthen transmission grid

Zurich, Switzerland, June 17, 2009 - ABB, the leading power and automation technology group, has secured a $52 million order from Spanish technology company Abengoa to supply transformers and shunt reactors for projects to interconnect the grids in Brazil's northern and southern regions.

ABB's equipment will serve three projects under construction for Manaus Transmissora de Energia, one of Brazil's leading energy transmission companies:


a 374-kilometer extension of the 500 kilovolt Oriximina-Itacoatiara transmission line in the states of Para and Amazonas
a 212-km extension of the Itacoatiara-Cariri 500 kV transmission line in the state of Amazonas, which includes the 500/230 kV Cariri substation
an expansion of the 500 kV Ribeiro Goncalves-Balsas transmission system and the 230 kV Balsas substation in the northeastern states of Piaui and Maranhao

The installations are located in challenging terrains, such as forests, accentuating the need for highly reliable equipment with minimal service needs.

"These interconnections will facilitate power transfers across Brazil's regions and augment the transmission network," said Bernhard Jucker, head of ABB's Power Products division. "We are pleased to be able to contribute to the strengthening of the country's power infrastructure."

Abengoa applies innovative solutions for sustainable development in the infrastructure, environment and energy sectors, and has an extensive presence in Latin America

[grupo guitarlumber] 09/6/2009 08:58

ABB Wins $223 Million Oil-And-Gas Order In Algeria





Edited Press Release

ZURICH -(Dow Jones)- ABB (ABB) Monday said it has won a contract worth about $223 million from Sonatrach, the Algerian oil and gas company, for three gas plants in Algeria.

Scheduled for completion in the first quarter of 2012, the project includes new compressor trains, re-instrumentation of existing gas treatment plants and an integrated control system (ABB's Extended Automation System 800xA) for both the new and existing facilities. New compressor trains are used to increase the gas flow rate in the pipelines. This improves production efficiency by recovering the amount of low-pressure gas that would otherwise be flared off.

ABB said it will also deliver related automation equipment, as well as medium- and low-voltage switchgear and transformers to the plants.

Company Web Site:

-Zurich Bureau, Dow Jones Newswires, [phone]; [e-mail]

[sheeneqa] 04/6/2009 12:48

ABB takes solar power into the fast lane
2009-05-28 - A unique ABB turnkey concept for modular photovoltaic power plants is enabling solar energy operators to get new plants into production in record time and obtain what is thought to be the highest plant performance ratio* on the market.

By ABB Communications

The turnkey concept has been developed by ABB for the global photovoltaic market and draws on ABB's long-established position as a market leader and technology pioneer in solar energy conversion.

Available in standard containerized 1-megawatt (MW) modules that are pre-assembled and factory-tested for rapid delivery, the concept includes patented optimization technologies and a unique set of tools based on powerful ABB algorithms that determine the optimal solution for any given site, as well as the expected costs, revenues and return on investment of developing that site.

One of the first companies to benefit from the concept is Global Capital Finance who selected the ABB solution for a 1-MW photovoltaic power plant at Totana in the province of Murcia in Spain – an installation that has immediately demonstrated some remarkable results.




Totana produces 2.2 gigawatt-hours of grid-quality electric power , and is able to displace about 1,350 tons of greenhouse gas emissions per year.

The optimized solution at Totana achieves a plant performance ratio* of around 80 percent, about five percent higher than current alternatives. The combination of optimized ABB technologies throughout the process enables the plant to harness and convert maximum amounts of light into electricity at all times and in all types of weather.

This translates into more power produced and higher revenues for the customer.

ABB delivered, built and commissioned the solution in the record time of only four months – an achievement that enabled the customer to qualify for the maximum feed-in tariff of EUR 0.45 per kilowatt-hour of solar energy produced (compared to the much lower EUR 0.32 per kWh produced for plants completed after September 28, 2008).

ABB is a pioneer in solar energy and has delivered extensive power and automation solutions to solar power plants all over the world, including the two largest thermosolar power plants in Europe (Extresol and Andasol in Spain, both rated at 100 MW) and the world's first integrated solar combined cycle power plant, the 175 MW Hassi R'Mel in Algeria.
90

[sheeneqa] 04/6/2009 12:46

ABB wins marine orders worth $45 million
2009-06-02 - Energy-efficient propulsion and reliable power for six offshore vessels

Houston, Texas, June 2, 2009 – ABB, the leading power and automation technology group, won orders worth around $45 million in the first quarter to supply six new vessels with electric propulsion systems, power systems and drilling drive systems at shipyards in South Korea and Japan.
ABB's electric propulsion systems are more efficient than traditional diesel mechanical solutions; they help customers optimize performance and save fuel while significantly reducing emissions. They also allow more flexible use of space on board.

ABB's Marine business supplies these environmentally friendly propulsion systems, as well as reliable, energy-efficient power and propulsion systems and global services for offshore drilling and support vessels.

The contracts include:

An agreement with STX Norway Electro for deliveries to four oil-platform supply vessels to be built by Universal Shipbuilding Corporation in Japan for Sanco Shipping. ABB will supply electric propulsion systems that include transformers, variable-speed drives and electric motors.
A contract to deliver power systems and drilling drives systems for two new drill ships to be built by Samsung Heavy Industries in South Korea for Schahin and Etesco. ABB will provide power systems, including generators and high-voltage distribution system, as well as electric drilling and propulsion drive systems.

[grupo guitarlumber] 25/5/2009 16:51

ABB To Restructure Business In France And Cut Jobs





ZURICH (AFP)--Swedish-Swiss engineering group ABB Ltd. (ABB) will restructure its operations in France and cut jobs due to the economic crisis, a company spokeswoman said Monday.

French magazine La Lettre de L'Expansion said in its Monday edition that ABB would cut 540 jobs at its French sites of Macon and d'Aunay-sur-Odon but the spokeswoman said she was unable to confirm the figure.

She said the group had to first discuss the issue with the union before making formal announcements on job cuts.

"ABB France is facing a structurally difficult market situation in robotics and automation, with significant price erosion," she said.

"The crisis has worsened the situation, with losses in 2008 posted by ABB France confirmed in 2009," she added.

The group, which employs 2,500 workers in about 20 sites across France, has launched a restructuring program to tackle its two ailing sectors, including the use of forced leave, reductions in temporary workers and sub-contracts.

"But these were insufficient," the spokeswoman said, stressing that ABB would maintain a presence in France.

[ariane] 18/5/2009 07:28

ABB's industrial robots star in Terminator Salvation movie
18 May 2009

ABB says its 18 of its robots are starring in the Terminator Salvation, playing the part of a manufacturing line of robots mass producing a growing army of Terminators.
ABB supplied 12 ABB IRB 6620 and six ABB IRB 1600 robots to Jaffe Entertainment in 2008. The movie makers used special effects to multiply the robots into an almost endless manufacturing line assembling Terminator units.
According to ABB, the set director Victor Zolfo was struck by the presence of ABB robots, especially the larger units, which had the "right lines". ABB's Field Service Engineer Erik Ryskamp spent 10 weeks on the set, installing, programming and operating the robots.
Every robot was provided with an ABB IRC5 controller for the precise programming needed. The robots were covered with black soot to appear as if they had been in rigorous use in for an extended period in dingy conditions.
The robots have since been returned to ABB and deployed in real-life industrial manufacturing. ABB says its logos are prominently displayed in the movie.

[waldron] 14/5/2009 11:10

ABB: Power Guys
Published: 13 May 2009 23:36:37 PST
Author: Jonathan Fahey


In the middle of the wind-whipped north sea, British Petroleum is sprucing up a 25-year-old platform that taps one of the world's biggest natural gas fields. BP is ripping out the gas turbines that use some of the methane below to make electricity for the platform. Instead, BP is piping electricity in through an undersea cable from hydroelectric plants on the Norwegian mainland, 180 miles away. It might seem odd for BP to shun the fuel at hand in favor of a long-distance solution. But this is the new economics of carbon--Norway heavily taxes it, and BP wants to be green.

The beneficiary in this case: ABB ( ABB - news - people ), the $35 billion Zurich engineering giant that builds the equipment that makes up the innards of an electric grid. Its high-voltage direct current system is delivering electricity to the BP ( BP - news - people ) platform in the middle of the ocean.

ABB, the company that arose from the 1988 merger of the Swedish firm asea and the Swiss one Brown Boveri, is hoping to get a lot more business like that. It's in a good spot. It's pitching its electric transmission systems and its electricity-sparing motors to the dirtiest industries--utilities, mining, oil and gas, and heavy manufacturing--as a way of becoming a little bit cleaner and more efficient.

It is positioned to benefit from the billions governments worldwide are spending to build and upgrade electrical grids so they can handle intermittent sources along with higher demand. It was ABB's link between Connecticut and Long Island that allowed Long Island to get power back hours before Manhattan did after the August 2003 blackout. As wind turbines and solar panels add more energy to the grid in farther-flung places, ABB hopes to move the energy.

First the company has to get past the worldwide recession and settle in with a new chief executive. After a boardroom spat last year Joseph M. Hogan, 51, was recruited from General Electric ( GE - news - people ) in September as the new chief, just in time for the banking crisis and a worldwide economic freeze. Hogan saw orders for the company fall from $11.3 billion in the second quarter of 2008 to $7.2 billion in the fourth quarter. He quickly announced cost cuts of $1.3 billion and says he has another round of cuts planned and ready to go if the economy worsens.

"The world has changed in incredible ways," says Hogan. "But the last thing you are going to see is me sucking my thumb."

Last year was still ABB's best ever. Sales in every division grew 10% or more (not including acquisitions) as the company earned $4.6 billion before interest and taxes on $35 billion in sales. It started 2009 with a backlog of $24 billion. More than a grid company, ABB makes more electric motors and energy-saving motor controls called drives than any other company in the world. It also builds robots for automotive paint shops and packaged food companies and automation systems for mining companies and cementmakers. "We excel in businesses people left for dead," Hogan says.

ABB itself nearly expired in 2002, when asbestos claims of $2.4 billion almost forced the company into bankruptcy. After that experience the company shed debt, hoarded cash (it is sitting on $5.4 billion now) and sold divisions that would have turned to poison in 2008, like its financial services operations. It now looks like the company that rival General Electric can only wish it could be.

Hogan, who ran GE's health care business, arrived at a sticky time. His predecessor, the popular and successful Fred Kindle, was ousted by the company's board chairman, Hubertus von Gr??nberg, in part because Gr??nberg wanted ABB to use its cash to acquire companies; Kindle was said to be more cautious. By the time Hogan took the reins, Kindle was being vindicated. Acquisitions were out and protecting the balance sheet was in.

But even as ABB's mining and manufacturing customers are postponing or canceling projects, Hogan can afford to be confident because the need to build and upgrade grids worldwide will keep ABB busy. Electricity demand is projected to double by 2030, according to the International Energy ( IENI.OB - news - people ) Agency, and $11 trillion will be spent by then on energy infrastructure. Half of that will likely go to transmission. Private utilities will foot most of the bill, but governments are chipping in too. The U.S. has earmarked $19 billion for transmission, distribution and generation; Europe plans to spend $6.5 billion to connect eastern and western Europe, and China will lay out $132 billion to add 16,000 miles of grid.

Go to Page Page 1 of 1 1
Source: Forbes.com

[waldron] 13/5/2009 12:58

ABB Secures Contract For First Solar Power Project In U.S.
May 13, 2009


ABB, the leading power and automation technology company, recently announced that it has secured its first Solar Thermal Power Project in North America with eSolar, producer of scalable solar thermal power plants, based in Pasadena, California.

ABB has provided eSolar equipment and engineering services in the development of the Sierra commercial demonstration facility. The Sierra project is a solar thermal power plant design consisting of two solar light receivers, with each receiver being supported by a field of 12,000 heliostat reflectors. The reflected light from each heliostat is captured at the receiver and used to convert water to steam.

eSolar selected ABB because of its power generation balance of plant expertise, its ability to co-develop the balance of plant controls design and meet accelerated project schedule demands, and because ABB is an established international power and automation solutions provider.

"We quickly realized that ABB possessed the elements to play a critical role in the development of our Sierra project," said Bill Gross, eSolar CEO. "ABB's contributions have already exceeded our expectations, both in design and implementation. Coupling ABB's technology expertise with eSolar's concentrated solar thermal power (CSP) innovation, our first CSP demonstration site in Sierra will be a model for industry success and also demonstrate the viability of this technology moving forward."

ABB's scope of supply includes plant control system design, engineering and implementation, including supervisory controls for interface to eSolar's steam turbine and OPC Interface to the patented eSolar Heliostat Field Control System. In addition, ABB will install a Facet Controls Solution that monitors and evenly distributes the solar light reflected by each heliostat for maximizing the use and life of eSolar's solar thermal receivers.

"The solar power niche within the renewable power industry is in its infancy and will soon be in exponential growth mode," said Kevin McAllister, Head of ABB's Power Generation division in North America. "ABB is contracted to work with eSolar to deploy a solution that makes a dramatic reduction in the cost of solar thermal technology by tackling the key obstacles that have characterized large solar installations in the past: price, scalability, speed of deployment and grid impact."

By leveraging a proprietary combination of optics and software in a pre-fabricated form factor, eSolar achieves economies of scale while focusing on the key business obstacles that have characterized large solar installations – price, scalability, speed of deployment and grid impact. eSolar has partnered with Idealab, Google.org, Oak Investment Partners, and other investors to develop large and utility-scale power projects around the world.

About ABB
ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 120,000 people. The company's North American operations, headquartered in Cary, North Carolina, employ about 15,000 people in 20 manufacturing and other major facilities. For more information, visit: www.abb.com.

SOURCE: ABB

[grupo guitarlumber] 06/5/2009 07:16

Shares of ABB Ltd have dropped by about 14% from their highs in mid-April, at a time when the broad market and other capital goods firms have extended their gains since early March.
Also See Losing Sheen (Graphic)
The BSE Capital Goods Index has risen by about 6% from its highs in April. The reason for the divergent trend in ABB shares is owing to profit booking on account of high valuations.
Besides, the company has reported weak results for the second consecutive quarter.
Revenue declined by 9.3% on a year-on-year basis to Rs1,393 crore, and was way below analysts' expectations of Rs1,673 crore. Evidently, order execution has been much slower than expected. Operating margin fell by about 200 basis points primarily owing to the impact of forex losses, leading to a 26% drop in operating profit. The reported net profit of Rs78 crore was about 35% lower than consensus estimates.
In the December quarter, the company had disappointed in terms of order intake.
Things were better on this front in the March 2009 quarter. Although the company reported a 14.6% drop in order inflows, it must be noted that the year-ago period represented an unusually high base.
Order inflows in the March 2008 quarter had accounted for more than a third of order inflows in 2008.
But although order inflows have bounced back from the lows in the December quarter, the outlook for the company's shares isn't bright.
Analysts are concerned about the rise in working capital requirements of the company and the resultant rise in interest costs.
Besides, the company enjoys a rich price-earnings multiple of nearly 20 times trailing earnings, even though the average rate of growth in earnings in the coming two years is expected to be in low single digits. With fresh worries emerging on order execution and concerns about the rise in working capital remaining, ABB shares need to correct more to reflect ground realities.
Graphics by Ahmed Raza Khan / Mint
Write to us at [e-mail]

[grupo guitarlumber] 05/5/2009 14:10

ABB Views Once in Lifetime Takeover Options From Atop Cash Pile
Share | Email | Print | A A A

By Antonio Ligi

May 5 (Bloomberg) -- ABB Ltd. Chief Executive Officer Joe Hogan sees once-in-a-lifetime acquisition opportunities that will test his will to preserve the company's balance sheet and $5.4 billion cash pile.

"We don't quite know how much cash we're going to need, or when we're going to need it, and so we are managing our balance sheet very carefully," Hogan said. "Most likely we will come across opportunities to acquire assets at prices we may never see again in our lifetimes, and so we also want to be in a position to seize these chances."

ABB faces difficult years in 2009 and maybe 2010, said Hogan, who became chief after his predecessor quit over a strategy dispute with Chairman Hubertus von Gruenberg. Hogan, giving his first annual speech to investors since joining ABB from General Electric Co. in September, faces a slowdown in so- called base orders, contracts below $15 million that form the backbone of profits.

"Because forecasts are very risky, we will run the business based on our order rates, not on some hopefulness that business will be better in the second half of this year or in the first half of next," Hogan told shareholders.

A $25 billion order backlog and large-scale energy projects in the Middle East and Europe helped buoy bookings. Von Gruenberg said that 60 percent of the 2008 order backlog will convert into 2009 sales.

The power transformers business continues to operate at "high" capacity while power-transmission demand will remain "strong" because of infrastructure needs in China, India and the Middle East, Hogan said. Demand in the oil-and-gas market is showing resilience, he added.

ABB rose 14 percent this year in Swiss trading, increasing the market value to 41.2 billion Swiss francs ($36.3 billion). The stock advanced 0.7 percent to 17.72 francs as of 10:50 a.m. local time.

To contact the reporter on this story: Antonio Ligi in Zurich at [e-mail]

Last Updated: May 5, 2009 04:53 EDT

[grupo guitarlumber] 05/5/2009 14:09

ABB Views Once in Lifetime Takeover Options From Atop Cash Pile
Share | Email | Print | A A A

By Antonio Ligi

May 5 (Bloomberg) -- ABB Ltd. Chief Executive Officer Joe Hogan sees once-in-a-lifetime acquisition opportunities that will test his will to preserve the company's balance sheet and $5.4 billion cash pile.

"We don't quite know how much cash we're going to need, or when we're going to need it, and so we are managing our balance sheet very carefully," Hogan said. "Most likely we will come across opportunities to acquire assets at prices we may never see again in our lifetimes, and so we also want to be in a position to seize these chances."

ABB faces difficult years in 2009 and maybe 2010, said Hogan, who became chief after his predecessor quit over a strategy dispute with Chairman Hubertus von Gruenberg. Hogan, giving his first annual speech to investors since joining ABB from General Electric Co. in September, faces a slowdown in so- called base orders, contracts below $15 million that form the backbone of profits.

"Because forecasts are very risky, we will run the business based on our order rates, not on some hopefulness that business will be better in the second half of this year or in the first half of next," Hogan told shareholders.

A $25 billion order backlog and large-scale energy projects in the Middle East and Europe helped buoy bookings. Von Gruenberg said that 60 percent of the 2008 order backlog will convert into 2009 sales.

The power transformers business continues to operate at "high" capacity while power-transmission demand will remain "strong" because of infrastructure needs in China, India and the Middle East, Hogan said. Demand in the oil-and-gas market is showing resilience, he added.

ABB rose 14 percent this year in Swiss trading, increasing the market value to 41.2 billion Swiss francs ($36.3 billion). The stock advanced 0.7 percent to 17.72 francs as of 10:50 a.m. local time.

To contact the reporter on this story: Antonio Ligi in Zurich at [e-mail]

Last Updated: May 5, 2009 04:53 EDT

[grupo guitarlumber] 05/5/2009 10:05

ABB Sees Challenging Environment, Confident For Mid-term





ZURICH -(Dow Jones)- Swiss electrical engineering company ABB Ltd (ABB) Tuesday will warn Tuesday that the market environment will remain challenging, but will stick to its long-term goals.

In a speech to be delivered at the company's annual general meeting in Zurich, Chief Executive Joe Hogan will say that "clearly, we face a difficult 2009 and maybe even 2010."

ABB has recently stepped up its cost-cutting program as it expects demand to slow.

However, the company wants to grow over the medium-term. "The fact that we are sticking to our medium-term financial targets for 2011 demonstrates that, all things considered, our confidence remains strong", Chairman Hubertus von Gruenberg will say.

Company Web site: www.abb.com

-By Goran Mijuk, Dow Jones Newswires, [phone]; [e-mail]

[waldron] 30/4/2009 14:20

UPDATE:India ABB 1Q Net Profit Falls 34%; Power Division Revenue Down





(Updates with more details, comments from executive)

MUMBAI -(Dow Jones)- Engineering firm ABB Ltd. (India) (500002.BY) said Thursday its first-quarter net profit fell 34% from a year earlier, partly hurt by a sharp fall in revenue in its power systems division and higher interest costs.

Net profit for the January-March quarter fell to INR783.6 million from INR1.18 billion a year earlier.

The results were lower than expected. The average estimates in a Dow Jones Newswires poll of 15 analysts was for net profit of INR1.14 billion.

Net sales fell 9.3% to INR13.93 billion from INR15.35 billion, as a result of slower economic growth in India.

Revenue from the power systems segment fell 13% to INR4.47 billion, the company said in a statement.

The company warned that the slowdown effect could last a bit longer.

"Due to the slowdown the impact is still being felt and this will take some time to ease out," Biplab Majumder, Vice Chairman and Managing Director, said in a statement.

Interest costs shot up to INR103.2 million from INR54.6 million, the statement said.

The drop in power systems revenue was due to the company's exit from the rural electrification business last year, which contributed about 7% of the total revenue, a spokesman for the company said.

The company, a unit of Zurich-based ABB Ltd. (ABB), helps power utilities to build transmission and distribution networks and sells products such as generators and motors.

"We remain optimistic about the power sector with utilities investing in new capacity and augmentation across generation, transmission and distribution as well as improvements in grid reliability and efficiency," Majumder added.

India, which currently has an installed power generation capacity of 147.72 gigawatts, faces peak hour shortages of about 14%. The federal government is aiming to add 78,577 MW during a five-year plan period that ends March 2012.

ABB said fresh orders during the quarter ended March 31 were INR23.03 billion, down 15% from a year earlier.

Outstanding orders at the end of the quarter were INR70.32 billion, up from INR61.75 billion at the end of the year-earlier quarter.

The company added that it started a new manufacturing facility for automation products in the south Indian city of Bangalore, while it also commissioned a new service center for high voltage machines in Mumbai.

-By Ankur Relia; Dow Jones Newswires; 91-22-6145-6112; [e-mail]

[waldron] 30/4/2009 12:02

cheers she

[sheeneqa] 30/4/2009 12:02

ABB wins $100 million substation orders
in India
Projects to help Powergrid boost capacity, strengthen transmission network

Zurich, Switzerland, April 28, 2009 – ABB, the leading power and automation technology group, has won substation orders worth around $100 million from Powergrid, India's national transmission utility, to boost capacity and help improve grid reliability. The orders were booked in the first quarter.
ABB is responsible for the design, supply, installation and commissioning of 765/400 kilovolt (kV) substations at Agra (Uttar Pradesh), Wardha (Maharashtra), Bilaspur and Seoni (both Madhya Pradesh), and of a 400/220 kV substation at Palakkad (Kerala). The projects are expected to be completed by 2011.

"We are pleased to be a part of Powergrid's efforts to strengthen India's power infrastructure", said Peter Leupp, head of ABB's Power Systems division. "These substations for the national grid are an integral part of the country's plans to develop an ultrahigh-voltage transmission network, improving transmission efficiency and addressing growing demand for electricity."

The equipment to be supplied includes a range of circuit breakers; current transformers and capacitor voltage transformers, used for monitoring current and operations; surge arrestors; protection systems; control and relay panels; as well as the latest substation automation.

The substation projects are part of Powergrid's program to strengthen the national transmission grid and to enhance the inter-regional power transfer capacity to around 37,000 megawatts by 2012. An extensive 800kV and 1,200kV ultrahigh-voltage system is expected to form the backbone of the transmission network and facilitate the transfer of power across India.

[sheeneqa] 30/4/2009 12:01

ABB wins $30-million power transformer orders in India
Transformers for NTPC power plants to help increase power capacity

Zurich, Switzerland, April 29, 2009 – ABB, the leading power and automation technology group, has won transformer orders worth around $30 million from NTPC Limited in India for its Mauda Super Thermal Power Project and Tapovan Vishnugad HydroElectric Power Project. The orders were booked in the first quarter.
ABB will design, supply, erect and commission transformers for the Mauda plant (2 x 500 megawatts) in Maharashtra, which will increase and strengthen the power supply to states in the Western Region. The plant will use High-Concentration Slurry Disposal (HCSD) technology, which is designed to cut water consumption by 10 to 15 percent and to reduce dust emissions.

ABB will also supply transformers for NTPC's Tapovan Vishnugad plant (4 x 130 MW) in Uttarakhand. The project will cater to the power demand of states in the Northern Region.

"ABB's globally proven transformer technology will facilitate efficient transmission of electricity from the power generation plants," said Bernhard Jucker, head of ABB's Power Products division. "We have a strong footprint in India, with advanced manufacturing and testing facilities and will source the transformers for these projects locally."

NTPC is India's national power generation utility and operates 26 power plants across the country, with a total installed capacity of more than 30,000 MW, mostly based on coal and gas. To acquire a more sustainable and diversified fuel mix, the company is developing hydro projects, and plans to have about 9,000 MW of hydropower capacity by 2017

[waldron] 28/4/2009 12:34

ABB: RBS reste à conserver

28/04/2009 - 12:11 - (Bolsamania) - par les analystes de RBS

Poor 1Q, worse 2Q coming up

Long term (12 months): Hold
Target price: SFr14.60 (from SFr14.80)
Reason: Change of forecast

With a poor 1Q, no good news, low visibility, a tough 2Q09 coming up (2Q08 was ABB's best ever) and no real support from valuation vs sector peers, we see no reason to come back to the shares yet.

Orders provide a positive surprise, some resilience thanks to large orders
1Q orders were better than we expected and showed some resilience at US$9.1bn (-3% in local currencies), mainly thanks to three US$500m orders (in Power systems and Process Automation). Base orders fell 18% vs -2% in 4Q08. At US$25bn, order backlog was 7% down on 1Q08 but up US$1.2bn vs December, it now represents almost 10 months of sales.

Disappointing EBIT
EBIT was disappointing, reaching US$862m (almost US$900m when restating from a write- off in Russia). Reasons for this disappointment: lower capacity utilisation, negative mix effect and marked-to-market treatment of hedging transactions. Particularly weak were margins at Power Systems (5.9%) due to a less favourable projects mix and higher selling costs, and Process Automation (8.4%) due to a lower share of revenues from higher margin services activity. Robotics was also disappointing with a negative 7.1% margin.

Other points
Cash flow in the quarter was weak (traditionally the case, but this time aggravated by lower earnings). ABB has increased its cost reduction target from US$1.3bn to US$2bn by 2010 with associated restructuring costs rising from US$600m to US$1bn. The US$2bn cost saving (7% of total costs) is an improvement on the first cost-saving initiative (4% of cost base) but is still below what other groups are announcing (Schneider 10%).

Conclusion
The business environment improved in March, with base orders still down but less so than at the start of the year. Management remains very cautious, a lot of sectors ABB serves say it is still too early to talk of recovery. We lower our EBIT forecasts 6% for 2009 and 2010 and our DCF-based price target to SFr14.6. With a poor 1Q, no good news, low visibility, a tough 2Q09 coming up and no support from valuation vs sector peers (ABB 09 EV/EBITDA at 6.6x, in line with the sector average), we see no reason to return to the shares yet

[waldron] 28/4/2009 08:54

current target sfr18