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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Abb | LSE:ANN | London | Ordinary Share | CH0012221716 | CHF2.50(REGD) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1,356.41 | - | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
| Date | Subject | Author | Discuss |
|---|---|---|---|
| 26/4/2007 07:33 | Swiss shares TFN at a glance outlook Published : Thu, 26 Apr 2007 08:01 By : Agencies Print this Story ZURICH (Thomson Financial) - Share prices are expected to open higher tracking sharp overnight gains on Wall Street, with the DJIA closing above the 13,000 points threshold, and spurred by strong results from ABB, traders said. In pre-bourse trading, the Swiss Market Index was 54.56 points higher at 9,483.82, with ABB up 3 pct on the back of forecast-beating first quarter results. Yesterday, the Swiss Market Index closed 36.84 points higher at 9,429.26 and the Swiss Performance Index finished up 67.51 points at 7,613.98. FORTHCOMING EVENTS TODAY -none TOMORROW -Sika Q1 results TODAY'S PRESS -none COMPANY NEWS -Nobel Biocare Q1 net profit 43.9 mln eur, up 18 pct -Nobel Biocare Q1 EBIT 55.6 mln eur vs 48.5 mln eur -Nobel Biocare Q1 sales 163.5 mln eur vs 142.7 mln eur -Nobel Biocare still sees FY revenue growth of 23-25 pct -Nobel Biocare still sees FY ebit margin of 34-35 pct -ABB Q1 net 537 mln usd vs 204 mln -ABB Q1 EBIT 822 mln usd vs 492 mln -ABB Q1 SALES 6.2 BLN USD VS 5.1 BLN -ABB Q1 new orders 8.6 bln usd vs 6.9 bln -Roche cuts Tamiflu production as supply exceeds new orders MACROECONOMIC NEWS -none MARKET NEWS/SENTIMENT -Strong results from ABB are likely to support buying interest today with overall sentiment positive following Wall Street's record close overnight andrew.ge.thompson@t at/bsd | waldron | |
| 26/4/2007 06:55 | Abb 1st Quarter Results RNS Number:5507V ABB Ltd 26 April 2007 Q1 net income up by 163 percent * Continued strong demand for reliable power and industrial efficiency * Record EBIT and EBIT margin (13.2%) on volume growth and operational improvements * Cash from operations above $300 million * Oil, gas and petrochemicals business moved to discontinued operations Zurich, Switzerland, April 26, 2007 - ABB's first-quarter net income rose 163 percent to $537 million from $204 million in the same period of 2006, driven primarily by continued strong market demand and further operational improvements. Earnings before interest and taxes (EBIT) increased 67 percent from a year earlier, to $822 million. The EBIT margin, or EBIT as a percentage of revenues, increased to a record 13.2 percent from 9.6 percent. Orders rose 26 percent (20 percent in local currencies), spurred by demand for reliable electricity supplies in both mature and emerging markets, as well as global industrial demand for technologies to improve energy efficiency and productivity. Revenues rose 21 percent (15 percent in local currencies) to $6.2 billion on both high product sales in the quarter and progress on executing the strong order backlog. Not included in the revenue comparison is $237 million in the first quarter of 2007 from the ABB Lummus Global business that was reclassified to discontinued operations (Q1 2006: $208 million). "Our operational improvements and global reach are paying off," said Fred Kindle, ABB President and Chief Executive Officer. "We are positioned to capture the strong worldwide demand for technologies to deliver reliable power, increase productivity and save energy. All five divisions and every region, particularly Europe, contributed to our strong start to the year." -------------------- Q1 07 Q1 06 1) Change 2007 Q1 key figures -------------------- $ millions unless otherwise indicated US$ Local -------------------- Orders 8,639 6,859 26% 20% -------------------- Order backlog (end March) 18,515 13,088 41% 34% -------------------- Revenues 6,215 5,139 21% 15% -------------------- EBIT 822 492 67% -------------------- as % of revenues 13.2% 9.6% -------------------- Net income 537 204 163% -------------------- as % of revenues 8.6% 4.0% -------------------- Basic net income per share ($) 0.25 0.10 -------------------- Cash flow from operating activities 303 39 -------------------- 1)Adjusted to reflect the reclassification of activities to discontinued operations Summary of Q1 2007 results Orders received and revenues The strong order growth in the first quarter was led by continued demand for improved power infrastructure across all regions. Orders in the Power Products and Power Systems divisions grew 41 and 38 percent, respectively (local currencies: 35 and 30 percent) during the quarter compared to the same period in 2006. Demand was strong for transformers and substations. Industrial markets also remained robust in the first quarter, driven mainly by the metals and marine sectors. This resulted in a 24-percent increase in orders (local currencies: 16 percent) in the Automation Products division, especially for energy-saving motors and drives. Order growth was modest (flat in local currencies) in Process Automation due to the timing of large order awards, primarily in the oil and gas sector. Orders in the Robotics division also increased, led by demand from general industry. Regionally, orders in Europe rose 31 percent (20 percent in local currencies), reflecting both power infrastructure investments and overall economic strength. Order growth was strongest in Germany, Spain, Italy and Russia. Strong markets in North and South America, especially in the power sector, resulted in a 25-percent increase in orders from the Americas (24 percent in local currencies), led by the U.S. and Brazil. Orders in Asia grew 22 percent (18 percent in local currencies) and continued to benefit from rapid economic development in China and India. High oil prices supported demand in the Middle East and Africa where orders increased 16 percent (14 percent in local currencies). The volume of large orders (more than $15 million) rose 36 percent (32 percent in local currencies) in the first quarter and base orders (less than $15 million) were up 25 percent (18 percent in local currencies). Large orders represented 13 percent of total orders in the first quarter of 2007, slightly higher than the first quarter of 2006 but below the exceptionally high levels seen in the fourth quarter of 2006. The order backlog at the end of March was $5.4 billion higher (41 percent in U.S. dollars and 34 percent in local currencies) than at the end of the first quarter of 2006 and $2.6 billion higher (up 16 percent in both U.S. dollars and local currencies) than at the end of 2006. The 21-percent increase in revenues (15 percent in local currencies) is primarily the result of strong product sales in the quarter as well as the execution of orders from the backlog. Earnings before interest and taxes All divisions increased their EBIT and EBIT margins in the first quarter of 2007, mainly through higher volumes and capacity utilization, as well as improved selection and execution of large projects. Other operational improvements, including more efficient supply management and increasing production and engineering capacity in lower cost countries, were further factors in the EBIT and EBIT margin improvement. EBIT in the quarter also benefited from a lower level of restructuring and other charges, such as those related to the transformer consolidation program, compared to the same quarter in 2006. Discontinued operations A small profit was recorded in the first quarter of 2007 in discontinued operations. This includes income from the ABB Lummus Global oil, gas and petrochemicals business, which was reclassified into discontinued operations from Non-core activities. The reclassification reflects ABB's expectation to sell the business. (Please refer to Appendix I for more detail on ABB Lummus Global's first-quarter results.) The sale of ABB's Building Systems business in Germany, announced in February of this year, was completed on April 12, 2007. Discontinued operations in the first quarter of 2006 included an approximately $90-million negative impact from the mark-to-market accounting treatment of ABB shares held for the Combustion Engineering asbestos settlement. Cash flow Cash flow from operations improved significantly in the first quarter, mainly reflecting earnings growth. Net working capital as a share of revenues increased to 12.2 percent in the first quarter from 11.3 percent in the same quarter a year ago, mainly the result of higher inventories to execute orders received in recent quarters that have not yet flowed through to revenues, as well as higher receivables. Balance sheet Cash and marketable securities increased, primarily the result of higher cash-effective earnings. Following the conversion during the first quarter of 79 percent of the company's 1-billion Swiss franc convertible bonds maturing in 2010, total debt decreased by approximately $650 million and equity increased by a similar amount. As the result of the bond conversion and the strong net income in the quarter, ABB's gearing(1) at the end of March 2007 decreased to 26 percent from 34 percent at the end of 2006. Net cash(2) amounted to $2.3 billion at the end of March 2007 compared to $1.5 billion at the end of the previous quarter. (1) The gearing ratio is calculated as total debt divided by the sum of total debt and equity, including minority interest (2) Net cash is calculated as the sum of cash and equivalents and marketable securities and short-term investments, less total debt. Credit rating increase On April 23, 2007, Standard & Poor's raised ABB's long-term corporate credit rating from BBB+ to A-, with a stable outlook. It was the third increase by Standard & Poor's on ABB's credit rating since the beginning of 2006. Divisional performance Q1 2007 Power Products division Q1 07 Q1 06 1) Change -------------------- $ millions unless otherwise indicated US$ Local -------------------- Orders 3,257 2,310 41% 35% -------------------- Order backlog (end March) 6,188 4,202 47% 40% -------------------- Revenues 2,060 1,463 41% 35% -------------------- EBIT 317 173 83% -------------------- as % of revenues 15.4% 11.8% -------------------- Cash flow from operating activities 87 61 -------------------- 1) Adjusted to reflect the reclassification of activities to discontinued operations Order growth remained very strong in the first quarter. Both base and large orders increased and orders were up in all businesses and regions. Transformer orders grew strongest, driven by demand in the U.S., Brazil, Germany and Spain. Large orders from eastern Europe and the Middle East for switchgear used in high-voltage substations also contributed to the order growth. Revenues grew significantly in all businesses on increased productivity, a higher initial order backlog and price increases in some product areas to compensate for higher raw material costs. There were no expenses in the first quarter of 2007 related to the transformer consolidation program announced in 2005 (first quarter 2006: $17 million). EBIT and EBIT margin rose, mainly reflecting the improved cost efficiency of higher factory loadings, operational improvements and lower transformer consolidation costs. Power Systems division Q1 07 Q1 06 Change -------------------- $ millions unless otherwise indicated US$ Local -------------------- Orders 1,797 1,306 38% 30% -------------------- Order backlog (end March) 6,357 4,417 44% 35% -------------------- Revenues 1,154 1,012 14% 8% -------------------- EBIT 80 48 67% -------------------- as % of revenues 6.9% 4.7% -------------------- Cash flow from operating activities 17 4 -------------------- Both base and large orders increased significantly in the first quarter compared to the same quarter a year earlier. The substations and network management businesses led the growth as electrical utilities continued to invest in infrastructure upgrades. Orders were up strongly in Europe, the Americas and in Asia, especially India. Orders also grew at a high single-digit pace in the Middle East and Africa. Revenue growth in the quarter reflected primarily the timing of project execution from the order backlog. EBIT and EBIT margin increased on higher revenues combined with improved project selection and execution and increased capacity utilization. Automation Products division Q1 07 Q1 06 Change -------------------- -------- --------- -------------- $ millions unless otherwise indicated US$ Local -------------------- -------- --------- -------- -------- Orders 2,411 1,944 24% 16% -------------------- -------- --------- -------- -------- Order backlog (end March) 3,006 1,862 61% 51% -------------------- -------- --------- -------- -------- Revenues 1,898 1,530 24% 16% -------------------- -------- --------- -------- -------- EBIT 309 221 40% -------------------- -------- --------- -------- -------- as % of revenues 16.3% 14.4% -------------------- -------- --------- -------- -------- Cash flow from operating activities 97 131 -------------------- -------- --------- -------- -------- Industrial markets continued to develop favorably in the first quarter, leading to a further increase in demand. Orders were higher in all businesses and regions. Among the larger orders booked in the quarter were traction converters and motors for rail customers, medium-voltage drives for a metals customer and high-power rectifiers for a smelter project in India. Higher revenues followed the good order development during the quarter as well as benefiting from the strong order backlog. Revenue growth and continued high capacity utilization led to a further increase in EBIT and EBIT margin. Process Automation division Q1 07 Q1 06 Change -------------------- -------- --------- -------------- $ millions unless otherwise indicated US$ Local -------------------- -------- --------- -------- -------- Orders 1,741 1,659 5% (1%) -------------------- -------- --------- -------- -------- Order backlog (end March) 4,348 3,118 39% 31% -------------------- -------- --------- -------- -------- Revenues 1,383 1,235 12% 6% -------------------- -------- --------- -------- -------- EBIT 139 118 18% -------------------- -------- --------- -------- -------- as % of revenues 10.1% 9.6% -------------------- -------- --------- -------- -------- Cash flow from operating activities 83 4 -------------------- -------- --------- -------- -------- A decrease in large orders in the first quarter compared to the same quarter in 2006 was offset by a 13-percent increase in base orders (7 percent in local currencies). Orders increased in the metals sector - especially in the steel industry - and in marine. Demand from these two sectors was mainly driven by Asia. Orders from the oil and gas sector were lower, primarily reflecting the timing of project awards. Revenue growth in the first quarter principally reflected progress made on the execution of systems orders and higher product sales during the quarter. Higher revenues and continued solid project execution contributed to the higher EBIT and EBIT margin. Robotics division Q1 07 Q1 06 Change -------------------- $ millions unless otherwise indicated US$ Local -------------------- Orders 378 326 16% 9% -------------------- Order backlog (end March) 516 496 4% (2%) -------------------- Revenues 305 333 (8%) (13%) -------------------- EBIT 15 1 -- -------------------- as % of revenues 4.9% 0.3% -------------------- Cash flow from (used in) operating 43 (67) activities -------- -------- ------- -------- -------------------- Orders rose in the quarter as higher demand from general industry, such as packaging, consumer electronics and food processing, more than offset continued weakness in the automotive sector. Revenues declined in the first quarter as a result of the weak order backlog. However, both EBIT and EBIT margin improved. This was a reflection of costs incurred in the first quarter of last year to improve the division's operational performance, the non-recurrence of costs related to a project, and the first positive results from the operational improvement initiatives. Increased revenues from general industry also contributed to the higher EBIT and EBIT margin. Non-core activities Following the reclassification of ABB Lummus Global to discontinued operations, Non-core activities now principally comprises ABB's Equity Ventures investment portfolio and the Group's corporate real estate activities. In the first quarter of 2007, Non-core activities generated EBIT of $35 million. In February 2007, ABB announced the sale of its Equity Ventures investments in the Jorf Lasfar (Morocco) and Neyveli (India) power plants. That transaction is expected to close during the second quarter of 2007. Outlook The business environment for ABB during the remainder of 2007 is expected to remain in line with the positive market situation seen in 2006 and the first quarter of this year. Demand for power transmission and distribution infrastructure is expected to continue on a high level in all regions. Equipment replacement and improved network efficiency and reliability are forecast to be the drivers of higher demand in Europe and North America. Automation-related industrial investments are expected to continue in most sectors. Overall, automation-related demand growth is expected to be strongest in Asia and the Americas in 2007, with more modest growth in Europe. In addition, ABB is well-positioned to benefit from increasing investments to mitigate climate change with energy-efficient products and systems. Order growth is expected to continue on a high level but to moderate somewhat over the remainder of 2007, compared to the extraordinarily high order growth rates experienced in 2006. More information The 2007 Q1 results press release and presentation slides are available from April 26, 2007, on the ABB News Center at www.abb.com/news and on the Investor Relations homepage at www.abb.com/investor ABB will host a press conference today starting at 10:00 a.m. Central European Time (CET). U.K. callers should dial +44 20 7107 0611. From Sweden, +46 8 5069 2105, and from the rest of Europe, +41 91 610 56 00. Lines will be open 15 minutes before the start of the conference. Audio playback of the call will start one hour after the call ends and will be available for 72 hours: Playback numbers: +44 20 7108 6233 (U.K.), +41 91 612 4330 (rest of Europe) or +1 (1) 866 416 2558 (U.S./Canada). The code is 295, followed by the # key. A conference call for analysts and investors is scheduled to begin today at 3:00 p.m. CET (9:00 a.m. EDT). Callers should dial +1 412 858 4600 (from the U.S./ Canada) or +41 91 610 56 00 (Europe and the rest of the world). Callers are requested to phone in 15 minutes before the start of the call. The audio playback of the call will start one hour after the end of the call and be available for two weeks. Playback numbers: +1 866 416 2558 (U.S./Canada) or +41 91 612 4330 (Europe and the rest of the world). The code is 683, followed by the # key. Investor calendar 2007 -------------------- ABB Ltd Annual General Meeting May 3, 2007 -------------------- Q2 2007 results July 26, 2007 -------------------- Q3 2007 results Oct. 25, 2007 -------------------- 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 109,000 people. Zurich, April 26, 2007 Fred Kindle, CEO Important notice about forward-looking information This press release includes forward-looking information and statements including the section entitled "Outlook," as well as other statements concerning the outlook for our business. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including global economic conditions, the economic conditions of the regions and industries that are major markets for ABB Ltd. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects," "believes," "estimates," "targets," "plans" or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets. The important factors that could cause such differences include, among others, the amount of revenues we are able to generate from backlog and orders received, raw materials prices, market acceptance of new products and services, changes in governmental regulations and costs associated with compliance activities, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd's filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved. ABB first-quarter (Q1) 2007 key figures $ millions unless otherwise indicated Q1 07 Q1 06 1) Change -------------------- US$ Local -------- ---------------- -------- -------- ------- ------- Orders Group 8,639 6,859 26% 20% -------- ---------------- -------- -------- ------- ------- Power Products 3,257 2,310 41% 35% -------- ---------------- -------- -------- ------- ------- Power Systems 1,797 1,306 38% 30% -------- ---------------- -------- -------- ------- ------- Automation Products 2,411 1,944 24% 16% -------- ---------------- -------- -------- ------- ------- Process Automation 1,741 1,659 5% (1%) -------- ---------------- -------- -------- ------- ------- Robotics 378 326 16% 9% -------- ---------------- -------- -------- ------- ------- Non-core activities 101 93 9% 1% -------- ---------------- -------- -------- ------- ------- Corporate (Inter-division (1,046) (779) -------- eliminations) -------- -------- ------- ------- ---------------- Revenues Group 6,215 5,139 21% 15% -------- ---------------- -------- -------- ------- ------- Power Products 2,060 1,463 41% 35% -------- ---------------- -------- -------- ------- ------- Power Systems 1,154 1,012 14% 8% -------- ---------------- -------- -------- ------- ------- Automation Products 1,898 1,530 24% 16% -------- ---------------- -------- -------- ------- ------- Process Automation 1,383 1,235 12% 6% -------- ---------------- -------- -------- ------- ------- Robotics 305 333 (8%) (13%) -------- ---------------- -------- -------- ------- ------- Non-core activities 98 95 3% (5%) -------- ---------------- -------- -------- ------- ------- Corporate (Inter-division (683) (529) -------- eliminations) -------- -------- ------- ------- ---------------- EBIT Group 822 492 67% -------- ---------------- -------- -------- ------- ------- Power Products 317 173 83% -------- ---------------- -------- -------- ------- ------- Power Systems 80 48 67% -------- ---------------- -------- -------- ------- ------- Automation Products 309 221 40% -------- ---------------- -------- -------- ------- ------- Process Automation 139 118 18% -------- ---------------- -------- -------- ------- ------- Robotics 15 1 -- -------- ---------------- -------- -------- ------- ------- Non-core activities 35 12 192% -------- ---------------- -------- -------- ------- ------- Corporate (73) (81) -------- ---------------- -------- -------- EBIT margin Group 13.2% 9.6% (%) ---------------- -------- -------- -------- Power Products 15.4% 11.8% -------- ---------------- -------- -------- Power Systems 6.9% 4.7% -------- ---------------- -------- -------- Automation Products 16.3% 14.4% -------- ---------------- -------- -------- Process Automation 10.1% 9.6% -------- ---------------- -------- -------- Robotics 4.9% 0.3% -------- ---------------- -------- -------- 1) Adjusted to reflect the reclassification of activities to discontinued operations ABB Q1 2007 orders received and revenues by region $ millions Orders received Change Revenues Change ------------ ----------- ---------- ----------- ---------- Q1 07 Q1 06 1) US$ Local Q1 07 Q1 06 1) US$ Local ------------ ------ ------ ------ ------ ------- ------ ------ ------ Europe 4,004 3,053 31% 20% 2,926 2,283 28% 17% ------------ ------ ------ ------ ------ ------- ------ ------ ------ Americas 1,565 1,256 25% 24% 1,133 1,052 8% 8% ------------ ------ ------ ------ ------ ------- ------ ------ ------ Asia 2,143 1,751 22% 18% 1,501 1,321 14% 8% ------------ ------ ------ ------ ------ ------- ------ ------ ------ Middle East and Africa 927 799 16% 14% 655 483 36% 34% ------------ ------ ------ ------ ------ ------- ------ ------ ------ Group total 8,639 6,859 26% 20% 6,215 5,139 21% 15% ------------ ------ ------ ------ ------ ------- ------ ------ ------ 1) Adjusted to reflect the reclassification of activities to discontinued operations Appendix I ABB Lummus Global Q1 2007 key figures Q1 07 Q1 06 Change -------------------- $ millions unless otherwise indicated US$ Local -------------------- Orders 155 153 (1%) (3%) -------------------- Revenues 237 208 14% 6% -------------------- EBIT 8 22 (64%) -------------------- as % of revenues 3.4% 10.6% -------------------- ABB Lummus Global's EBIT in the first quarter of 2007 includes charges to cover anticipated costs associated with the closing of a large project. Appendix II Accounting pronouncements In June 2006, the FASB issued Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48). Among other things, FIN 48 requires applying a two-step approach to recognizing and measuring uncertain tax positions accounted for in accordance with Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50 percent likely of being realized upon ultimate settlement. This new guidance has been effective for the Company since January 1, 2007. For the Company, the adoption of FIN 48 led to the reclassification of certain income tax-related liabilities in the Consolidated Balance Sheet. Among others, the reclassification resulted in a decrease of approx. $340 million in the opening of deferred taxes - non-current liabilities, a decrease of approx. $100 million in the opening of provisions and other - current liabilities, a decrease of approx. $30 million in the opening of accrued expenses - current liabilities and an increase of approx. $470 million in the opening of other liabilities - non-current liabilities. The adjustment to opening retained earnings was immaterial. As required by FIN 48, prior periods will not be restated. In September 2006, the FASB issued SFAS No. 157, Fair Value Measurements (SFAS 157). SFAS 157 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. SFAS 157 does not require any new fair value measurements and eliminates inconsistencies in guidance found in various prior accounting pronouncements. SFAS 157 provides a single definition for fair value that is to be applied consistently for all accounting applications, and also generally describes and prioritizes according to reliability the methods and inputs used in valuations. SFAS 157 will be effective for the Company on January 1, 2008. The Company is currently evaluating and assessing the impact of adopting SFAS 157 on its Consolidated Financial Statements. In February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial Assets and Financial Liabilities - Including an amendment of FASB Statement No. 115. This Statement permits entities to choose to measure many financial instruments and certain other items at fair value. The objective is to improve financial reporting by providing entities with the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. This Statement is expected to expand the use of fair value measurement, e.g. for certain firm commitments. SFAS 159 will be adopted by the Company earliest on January 1, 2008. The Company is currently evaluating and assessing the impact of adopting SFAS 159 on its Consolidated Financial Statements. Local currencies The results of operations and financial position of many of ABB's non-U.S. subsidiaries are recorded in the currencies of the countries in which those subsidiaries reside. The company refers to these as "local currencies." However, ABB reports its operational and financial results in U.S. dollars. Differences in our results in local currencies as compared to U.S. dollars are caused exclusively by changes in currency exchange rates. Appendix III Reconciliation of financial measures Q1 2007 Q1 07 Q1 061 -------------------- $ millions unless otherwise indicated -------------------- EBIT margin: -------------------- Earnings before interest and taxes 822 492 -------------------- Total revenues 6,215 5,139 -------------------- EBIT margin 13.2% 9.6% -------------------- Net margin: -------------------- Net income 537 204 -------------------- Total revenues 6,215 5,139 -------------------- Net margin 8.6% 4.0% -------------------- 1Adjusted to reflect the reclassification of activities to discontinued operations EBIT margin and net margin are calculated by dividing EBIT and net income, respectively, by total revenues. Management believes EBIT margin and net margin are useful measures of profitability and uses them as performance targets. Mar. 31, 2007 Dec. 31, 2006 1) Net cash: -------------------- Cash and equivalents 4,366 4,211 -------------------- Marketable securities and short-term investments 685 528 -------------------- Cash and marketable securities 5,051 4,739 -------------------- Short-term debt and current maturities of long-term debt 341 122 -------------------- Long-term debt 2,371 3,160 -------------------- Total debt 2,712 3,282 -------------------- Net cash 2,339 1,457 -------------------- Gearing: -------------------- Total debt 2,712 3,282 -------------------- Total stockholders' equity 7,231 6,038 -------------------- Minority interest 484 451 -------------------- Gearing 26% 34% -------------------- 1) Adjusted to reflect the reclassification of activities to discontinued operations Net cash is a financial measure that is calculated as the total of our cash and equivalents, marketable securities and short-term investments minus our total debt. Gearing is a financial measure that is calculated as our total debt divided by the sum of total debt and total stockholders' equity, including minority interest. Total debt used to calculate net cash and gearing equals long-term debt plus short-term debt and current maturities of long-term debt. Management believes net cash and gearing are helpful in analyzing leverage and it considers both measures in evaluating possible financing transactions. For the full press release, please refer to ABB's website www.abb.com This information is provided by RNS The company news service from the London Stock Exchange END QRFGUGDSSXDGGRL | waldron | |
| 26/4/2007 06:46 | ABB Q1 beats forecasts on strong demand for power, industrial products UPDATE ZURICH (Thomson Financial) - ABB Ltd reported a forecast-beating first quarter net profit of 537 mln usd, up from 204 mln, driven by continued strong demand for power products and systems, as well as automation products and further operational improvements. Analysts surveyed by Thomson Financial had forecast net profit to rise to 355-435 mln usd, or 405 mln on average. Looking ahead, the Swedish-Swiss engineering group said it expects the business environment for the rest of 2007 to remain in line with the positive market situation seen in 2006 and the first quarter of 2007. However, it warned that order growth is likely to "moderate somewhat over the remainder of 2007", compared to the "extraordinarily high" order growth rates experienced last year. During the first quarter, EBIT climbed to 822 mln usd, from 492 mln a year earlier and compared to the consensus forecast of 680 mln. The group's EBIT margin increased to a record 13.2 pct, from 9.6 pct. Sales rose to 6.2 bln usd, from 5.1 bln, compared to the consensus of 6.1 bln, reflecting both high product sales and progress in executing the strong order backlog. In parallel, new orders climbed to 8.6 bln, from 6.9 bln, with the average forecast 8.0 bln. "We are positioned to capture the strong worldwide demand for technologies to deliver reliable power, increase productivity and save energy. All five divisions and every region, particularly Europe, contributed to our strong start to the year," chief executive Fred Kindle said. Orders in the power products and power systems division grew 41 pct and 38 pct, respectively, amid strong demand for transformers and substations, ABB said. At the same time, industrial markets remained robust, driven mainly by the metals and marine sectors, resulting in a 24 pct rise orders in the automation products division, especially for energy-saving motors and drives, it said. Order growth in process automation was modest due to the timing of large order awards, primarily in the oil and gas sector, while orders in the robotics division increased, led by demand from general industry. Regionally, orders in Europe rose 31 pct, reflecting both power infrastructure investments and overall economic strength, ABB said. Order growth was strongest in Germany, Spain, Italy and Russia, it added. Strong markets in North and South America, especially in the power sector, resulted in a 25 pct increase in new orders from the Americas, led by the US and Brazil, ABB said. Orders in Asia grew by 22 pct and continued to benefit from rapid economic development in China and India, it said. High oil prices supported demand in the Middle East and Africa where orders grew by 16 pct, it added. The order backlog at the end of March stood at 5.4 bln usd, up 41 pct year-on-year. The company said that a small profit was recorded in the first quarter in discontinued operations, which includes ABB's Lummus business. andrew.ge.thompson@t at/hjp/at/bsd | waldron | |
| 25/4/2007 10:00 | cheers she | waldron | |
| 25/4/2007 08:46 | media telephone conference ABB's Q1 results media conference call on Thursday April 26, at 10:00 a.m. Central European Time (CET) will be hosted by CEO Fred Kindle and CFO Michel Demaré. Dial-In numbers: from the rest of Europe +41 91 610 56 00 from the U.K. +44 20 7107 0611 from Sweden +46 8 5069 2105 from the U.S. +1 (1) 866 291 4166 Lines will be open 15 minutes before the start of the conference. Audio playback of the call will start one hour after the call ends and will be available for 72 hours. Playback numbers: from the rest of Europe +41 91 612 4330 from the U.K. +44 20 7108 6233 from the U.S. +1 (1) 866 416 2558 Callers will be requested to enter the code 295, followed by the # key. | sheeneqa | |
| 23/4/2007 10:01 | ABB wins 40 mln usd power contract in Brazil ZURICH (Thomson Financial) - ABB Ltd said it has won a 40 mln usd power contract order for equipment to help strengthen the electricity grid in Sao Paulo. The Swedish-Swiss engineering group said it will deliver four substations, whose total installed power is enough to supply a city of about 100,000 people. ABB said the work -- commissioned by Sao Paulo's power transmission company Companhia de Transmissao de Energia Electrica Paulista -- is expected to be completed within about 14 months. johanna.treeck@thoms jmt/cmr | waldron | |
| 19/4/2007 11:05 | Date : 19/04/2007 @ 11:31 Source : AFX ABB wins 65 mln usd in orders for crane systems ZURICH (Thomson Financial) - ABB LTD said it has received contracts worth more than 65 mln usd to supply automation and electrical systems for 74 shipping cranes in Taiwan. The cranes will be built by Shanghai Zhenhua Port Machinery Company for delivery in 2008 and 2009, with orders booked in the first quarter of 2007, the Swedish-Swiss engineering said. Under the terms of the agreement, ABB will supply full crane automation and also carry out project management, engineering, customer training and commissioning for the world's largest crane manufacturer Shanghai Zhenhua Machinery Company. The new projects include 20 unmanned, rail-mounted gantry cranes for the Taipei Port Container Terminal Corporation in Taiwan, plus 42 similar units and 12 double-hoist, ship-to-shore cranes for Hanjin Shipping at Busan New Port in South Korea, ABB said. johanna.treeck@thoms jmt/gp | ariane | |
| 18/4/2007 09:57 | BIZCHINA / Center ABB starts robot production By Jin Jing (China Daily) Updated: 2007-04-18 08:32 SHANGHAI: ABB, the world's leading power and automation technology group based in Switzerland, yesterday began production of its latest robot in China, after it relocated its global robotics headquarters to Shanghai in April last year. ABB has received 15 initial orders for the new robots from China and countries such as South Korea and Australia. The robots can be used in the automotive, electronics, consumer products, foundry and food industries. "We will continue to expand our operation in the China market and will double the production capacity here this year," said Per Vegard Nerseth, head of ABB's Robotics Division, China. "The total capacity in China will amount to 2,000 units this year after the production expansion," he said. The new robots, described by ABB as "an effective way to improve quality and reduce cost", will mostly sell in the Asia-Pacific region. Most of them will be used in the auto industry, according to Jeffery Zhou, sales and marketing manager at the division. "The new production line for the robots can greatly shorten delivery time and provide technical support and quick response," said Nerseth. ABB's revenue in 2006 was $1.3 billion, of which 50 percent was from Europe, 35 percent from South America, and only 15 percent from Asia. "China is currently fairly small in our total revenue, but it will have a rapid growth," said Nerseth. He said the Chinese robots market is growing at a speed of more than 40 percent annually, and ABB will "follow it". ABB is currently the only international company manufacturing industrial robotics locally in China. It has sold more than 4,000 robots in China, while its global sales amounted to 150,000 units. The auto industry is still the largest user of ABB robots. ABB now has many clients in China such as DaimlerChrysler, PSA, Honda, Geely and Great Wall. ABB established corporate research and development centers in Beijing and Shanghai in April 2005, focusing on robotic technology and customized applications. (China Daily 04/18/2007 page14) | ariane | |
| 12/4/2007 05:36 | Product category: Water and Waste Industry Exhibitions: IWEX Preview News Release from: ABB Automation Technologies (Instrumentation) Edited by the Processingtalk Editorial Team on 12 April 2007 ABB shows off for the water industry at IWEX ABB will be underlining its leadership capabilities and expertise in water and waste water treatment applications with a selection of its latest instrumentation equipment and systems at IWEX Note: A free brochure or catalogue is available from ABB Automation Technologies (Instrumentation) about its services. Click here to request a copy. ABB will be underlining its leadership capabilities and expertise in water and waste water treatment applications with a selection of its latest instrumentation equipment and systems at IWEX. Taking pride of place will be the new CalMaster2, the world's first in-situ verification system for both battery and mains-powered electromagnetic flow meters. Designed for ABB flow meters, CalMaster2 is a portable verification device which checks flow meter installation and performance in-situ, making verifying accuracy quicker, easier and less costly than ever before. Another key product on display will be the ABB AquaMaster electromagnetic flow meter. Compatible with CalMaster2, the AquaMaster features built-in GSM technology that permits remote access to flow data using SMS messaging. A new demonstration unit will display the AquaMaster in action as a leak detection meter and show how precise it is at measuring very low night flow. Accompanying it will be the MagMaster, Parti-Mag and AquaProbe meters, plus the ABB Sensybar pitot and Sensyflow thermal mass meters. ABB will also showcase their world leading portfolio of Profibus enabled devices, beside the latest products in the ABB analytical range; plus a host of equipment for pressure and temperature measurement. There will also be examples of the ABB SM series videographic data recorder range, including another world's first from ABB, the field-mountable SM500F recorder. 'This event really gives us a chance to show the full extent of what we can offer for water and waste water treatment applications,' says Tony Hoyle, UK Flow Product Manager, ABB: 'We will be using the show to explain how our new products are opening up a wealth of exciting possibilities to help operators and major end users optimise their water management'. Tony Hoyle will also present a paper entitled 'Energy Saving Steps for Water Operators' between 14.30 and 15.00 on Tuesday 1st May. This presentation will detail key processes where energy could be saved, with advice on the latest drives, soft starters motors and instrumentation technology to help customers save energy: supported with case study examples. Request free introductory details about products from ABB Automation Technologies (Instrumentation)... ABB Automation Technologies (Instrumentation): contact details and other news Email this news to a colleague Register for the free Processingtalk email newsletter Processingtalk Home Page Related Stories Acquisition of Aztec analytical instrumentation ABB strengthens its capabilities in the water utilities sector with the acquisition of the Aztec analytical instrumentation business from Severn Trent Services, based in Didcot, Oxfordshire ABB joins Intergraph SmartPlant alliance programme The latest ABB and Intergraph agreement assures engineering, procurement and construction organisations and owner operators on-going joint integration support AC800F Control System for 80ktpa styrene plant ABB has received an order from China Oil and Natural Gas Co for an AC800F Control System to operate an 80,000 ton/year styrene production facility Research chair in process automation at Imperial ABB, under the Royal Academy of Engineering Research Chairs Scheme, is sponsoring a new research chair in process automation at Imperial College, London Training and simulation system for offshore users A new ABB Extended Operator Workplace installed in Aberdeen allows oil and gas operator training, control system modification testing, and software enhancement simulation for local customers | ariane | |
| 09/4/2007 06:03 | India is a high productivity country` SMART TALK: Ravi Uppal, VC and MD, ABB India Niren Shah / Mumbai April 9, 2007 ABB has been growing leaps and bounds globally. The Indian arm of the company is growing faster on the back of a robust order book, expansion plans and improved efficiencies. Vice chairman and managing director, ABB India and head of South Asia Pacific, ABB, Ravi Uppal talks to Niren Shah about what is in store ABB's CY06 performance has been impressive, with over 11 per cent operating margins and almost 8 per cent net margins. Could you please comment on the sustainability of these levels of profitability and growth from here-on? The Indian economy is on the move, assisted by strong industrial growth. The urgent need for quality power delivered efficiently and economically across urban and rural India is now among the nation's key priorities. At the same time, Indian industry is increasingly adopting automation technologies as it scales up. We bring value to our power and automation customers through leading-edge technologies, domain expertise and project execution abilities. At the same time our product focus in the form of range expansion and market penetration is paying handsome dividends. Our technology strengths, product portfolio and our unique ability to package solutions and provide a single window approach to existing and emerging sector verticals continue to be a key differentiator. At the same time we remain focused on operational efficiencies and managing growth in a profitable and sustainable way. What does ABB's order book look like? ABB India's cumulative order intake of Rs 5,623.6 crore for the year 2006 recorded a new high and grew 50 per cent over the previous year. The record growth in order intake helped strengthen the company's order backlog further to Rs 3,372.3 crore as at the end of 2006. This was 60 per cent higher than the opening order backlog at the beginning of the year. It provides good visibility for the coming quarters when the backlog will be manifested into revenues. On future prospects, we are optimistic on expected growth looking at the market scenario, orders being booked and, of course, the enquiry pipeline. What are your capital expenditure plans? Our $100 million (approximately Rs 440 crore) capital expenditure programme initiated a couple of years back should be completed by the middle of this year. We have plans to invest another Rs 250 crore for capacity and range expansion across the country, over 2008. However, based on business needs we can even invest more, as required, as long as the returns justify it. What is the key focus of the ABB India portfolio? In terms of our portfolio, we do three types of businesses, namely, projects, products and services. Here, in terms of products and services, we have moved from an 80:20 situation to a 50:50 mix in the span of the last six years. So while projects continue to grow in absolute terms, the focus on products and services has led to a higher proportionate contribution than before. This portfolio realignment has been an integral part of our strategy to bring stability, reduce cyclicality and address margins. What is your outlook on the power and automation businesses? The power sector is a key driver for ABB in India. With substantial generation, capacity enhancement, development of the transmission grid and the immediate focus on distribution, ABB's technology strengths and domain expertise are being leveraged to help India gear up its power infrastructure, across urban and rural India. In the past couple of years, we have also seen our automation business pick up. The acceleration in industrial growth to double digit levels has been led by sectors like ferrous and non ferrous metals, cement, pulp and paper, construction and pharma. Other sectors like automobiles and oil, gas and petrochemicals, and cement are also gathering momentum. All this bodes well for leading automation technology providers like ABB. A higher scale of investments, larger capacity additions (both brownfield and greenfield), focus beyond Indian markets, technology enhancements, increased focus on competitiveness, productivity, efficiency, quality, consistency and aesthetics are some of the factors that automation technologies can help influence. As Indian industry globalises and at the same time gears up to meet rising domestic consumption needs, we can expect the automation market to grow further. What would be ABB India's new verticals or revenue streams? We have introduced several new verticals and revenue streams and many of these cut across divisions, requiring both power and automation solutions for instance, water, ports, railways and asset management services. We offer turnkey solutions all the way from consulting to design, supply, installation, commissioning, after sales and even asset management for a variety of projects. We also continue to expand our product range with continual introduction of several products to meet growing demands of Indian utilities and industries. What is your approach to inorganic growth? We are extremely focused on our core businesses of power and automation, so we stick to the knitting. We would look at inorganic growth in cases where it gives us tangible benefits like product gaps, technology, value-chain-compleme What is the overall outlook for ABB India, vis-à-vis the region, as well as the group? India is one of the fastest growing operations within the group today and ABB views it as a 'high priority' country. ABB in India has over 5,000 employees, manufacturing across ten units and a countrywide marketing presence. A network of around 750 channel partners ensures market penetration and reach. We also host the largest single location global R&D centre and an engineering and operations centre in Bangalore, which caters to group requirements across geographies. No doubt, India is a key market for ABB. During the last few years, ABB in India has seen a significant acceleration in top- and bottom-line growth. In fact, we have seen more than 25 quarters of sustained growth along with continued market leadership and this is likely to continue as the market develops. We are optimistic across our power and automation businesses, as infrastructure development and industrial growth gathers momentum. Besides being a promising domestic market, ABB also envisages the Indian operations to continue playing an increased regional and global role, be it in the form of projects, products, services or even R&D. At ABB, we refer to countries like India, not as 'low cost' but 'high productivity' countries. India has been designated as the hub for the South Asia region which includes countries ranging from Afghanistan, Singapore, Indonesia, Philippines, Vietnam, going all the way to Australia and New Zealand. Globally, we source several products form India. This reinforces our 'Made in ABB' philosophy, where ABB technologies speak for themselves, regardless of their origin. The high skill level and domain competence in India is also being leveraged in the spheres of engineering and R&D at ABB India, which makes us a vital resource base for ABB units worldwide. | waldron | |
| 03/4/2007 06:11 | Abb Conversion of Securities RNS Number:2868U ABB Ltd 03 April 2007 Notification Zurich, Switzerland, April 3, 2007 - ABB said today that as of March 31, 2007 a total of CHF 788,705,000 or approximately 79 per cent of its 2010 Swiss franc convertible bonds have been converted by bondholders into ABB shares. As a consequence ABB has delivered approximately 82 million shares out of its contingent capital during March 2007. These shares are entitled to 2006 dividends. 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 108,000 people. This information is provided by RNS The company news service from the London Stock Exchange END MSCUOUNRBNRSRRR | waldron | |
| 02/4/2007 13:19 | ABB helps the desert bloom 2007-04-02 Electrical equipment produced by ABB Low Voltage Products is helping turn parts of the Sahara Desert green, transforming it from a wasteland into a productive agricultural area. ABB is supplying MCBs, ACBs and softstarters to a project that is taking water from the Nile and pumping it to an irrigation system to provide water to small farmers, growing maize and other crops. The electrical components form a vital part of 12 power stations produced for the project by Westac Power. During the planning stage, ABB supplied its own experts to Westac to help it define the technical aspects of the project, in particular the sizing and selection of the motor starters. The eventual solution involved building a number of generator sets, each with a diesel engine, an alternator, a motor control centre and a motor. These drive pumps are submerged in the river. The new power stations involve a total of 34 generator sets ranging in size from 650 kVA to 1850kVA. Some of the power stations have up to four generator sets, allowing different combinations of pumping power to be operated, depending on demand, and allows some of the sets to be shut down for scheduled maintenance. ABB's MCBs and ACBs were sized to suit these different possible combinations. Managing Director of Westac, Tony Shirtliff, says: "The benefits of the ABB softstarters are that they prevent stress on the generators. "When the motor stops, a column of water supported by the pump collapses, turning the pump in the reverse direction and hence the motor itself. This generates a back EMF, a voltage acting in the reverse direction that can produce currents which can damage the generator. This obviously leads to interruption of water supply. The slow starting and stopping allows us complete control over the motor and pump, rather than the pump taking control." This system of electrically-driven pumps has benefits over the previous method, which involved diesel engines driving mechanical pumps, mounted on barges in the river. As the demand for water grew as the project irrigated more land, more barges were needed and their operation became cumbersome and inconvenient. It was difficult to maintain electrical connections to the barges due to significant changes in the Nile's water levels. A significant part of Westac's contract was training, an aspect that ABB played a full part in, providing a day's training to six of the customer's onsite electrical engineers. They were trained in how to set up the motor starters and how long they would take to start and stop the motors Shirtliff says: "We have standardised on ABB products for four years. ABB has a worldwide reputation and by using them, we give the customer the confidence that he is getting what he needs. The customer wants to know that the equipment we use is first rate and that he will get the back up he needs. We get that with ABB." | waldron | |
| 01/4/2007 08:11 | Record turnover for ABB Technology manufacturer ABB Deutschland has registered a significant increase in profits over the last year. The earnings before interest and tax (EBIT) increased by 46 percent to 196 million euro, according to figures released by the Mannheim-based technology company. Turnover increased by eight percent to 2.61 billion euro. In particular new business was the cause of the positive development for the German subsidiary of the internationally active Zurich-based technology manufacturer and energy technology company, ABB. It rose by 32 percent from 2.48 billion to 3.26 billion euro. | waldron | |
| 01/4/2007 06:28 | Mission 2009 and Vision 2009 At ABB, our mission spells out our unique contributions, and shows us how we can achieve our ambitions. Our vision is a fuller description of our desired state - of what kind of company we want to be. Mission 2009: As one of the world's leading engineering companies, we help our customers to use electrical power effectively and to increase industrial productivity in a sustainable way. Vision 2009: ABB delivers attractive profitable growth by providing leading power and automation technologies to customers throughout the world. We help them to improve their performance and productivity as well as to save energy and lower environmental impact. ABB's technology competence, broad application know-how and global presence offer customers easy access to leading electrical engineering and industry automation solutions. Innovation and quality are key characteristics of our product and service offering. We build on long-lasting, value-creating partnerships with customers and suppliers. As one of the world's most global and dynamic companies, ABB is unique in its multicultural environment and attitude. We are committed to attracting and retaining dedicated and skilled people, offering employees an attractive working environment and excellent development opportunities. By 2009, ABB will be recognized as the top global engineering company in terms of market impact, growth and profitability, value creation, sustainability and ethical behavior. Video: | ariane | |
| 01/4/2007 05:52 | ABB announces its growth plans by ArabianBusiness.com staff writer on Sunday, 01 April 2007 Engineering company ABB is aiming to grow by two and half times its current size according to Boonkiat Sim, regional manager for Middle East and Asia. Speaking at the third annual ABB technical seminar to be held in Dubai, Sim commented: "This is a very good time for ABB. We're happy that the company is once again proving to be successful after the past years of financial difficulty. It's our ambition to grow by two and a half times over the next five years." ABB orders for the year 2006 increased by 22% to US $28 billion (AED103 billion). The firm has had annual average growth of 25% in five years. ABB's Middle East operation experienced a growth of 40% in 2006 and has averaged an annual increase of 21% since 2001. Sim stated that the firm is looking at possible mergers. | ariane | |
| 30/3/2007 09:39 | ABB wins marine propulsion orders worth 110 mln usd ZURICH (AFX) - ABB Ltd said it has won contracts totaling more than 110 mln usd to supply Azipod propulsion, power-generation and power-distribution systems for nineteen new vessels being built in Europe and Asia. Delivery dates for the new vessels range from late 2007 through to 2009. The new projects include, amongst others, electrical propulsion systems for nine platform supply vessels, to be built in shipyards in Norway and China, the Swedish-Swiss engineering group said. Furthermore, ABB will supply two Azipod units for the main propulsion for a new Solstice-class vessel for Celebrity Cruises, to be built by Meyer Werft of Germany. afx.zurich@afxnews.c at/hjp/at/gp | grupo guitarlumber | |
| 30/3/2007 08:00 | Abb Annual Report and Accounts RNS Number:0580U ABB Ltd 30 March 2007 ABB Ltd Zurich, Switzerland, March 30, 2007 ABB Ltd today published its 2006 Annual Report on its website at www.abb.com. The report comprises a financial review, operational review with financial summary information, and a sustainability review. Copies of the reports can also be ordered online by completing electronic order forms on the ABB website. This information is provided by RNS The company news service from the London Stock Exchange END ACSSDLSASSWSEID | grupo guitarlumber | |
| 24/3/2007 13:09 | ABB's Automation World Conference and Exhibition draws to a close in Orlando, FL, today, and the event gave more than 2,500 attendees a chance to check out the company's latest developments in control systems, drives, motors, robotics and more. Here are some highlights: Sharp-eyed attendees got to see a North American preview of the company's new ACSM1 drives, which debuted at last year's Hannover Fair. These drives, which cover a power range from 1 to 60 HP, extend the capabilities of the company's line of machinery drives by adding position control to the speed and torque control offered by previous drives. "The M1 is intended for all those applications that need some position control but don't need a full-blown servo amplifier," says Cliff Cole, ABB's marketing director for low-voltage drives. The M1 drives will see a limited roll out in this country later in the year. Until then, you can check more details on the drive on this ABB site in Ireland. Robotics were another hot topic at the conference. During a round table discussion with ABB executives, Kirk Goins, senior vice president of the robotics division, noted that North America has one of the lowest "robot densities" among industrialized nations. And he pointed out two emerging technologies that promise to drive more growth. One is robotic vision, or using machine vision to help position robots in 3D space. And the other is advanced force control, an ABB technology that gives robots the ability to sense and adjust the forces they exert. Think of these technologies as allowing robots to "see" and "feel," which in turn opens up assembly, machining and finishing applications that previously caused trouble for robots. Robotic vision, for example, lets very precise robots tolerate parts that are inconsistently located or have size variations--and do so without expensive fixtures. And force control got its start as a way to install various geared automotive components--the robot needs to feel when gears mesh. Lately, the biggest use for the technology has been in machining and finishing operations--includin Finally, the show was a good place to get a look at ABB's growing portfolio of wireless technologies. The company brought new wireless adapters compatible with the HART-protocol for field instrument communications. It also showed a prototype line of wireless vibration sensors for rotary equipment. The company also showed off its WISA technology, which not only provide real-time communications wirelessly but also offers a wireless power supply via a 120 kHz magnetic field. Mark Woudenberg, business development manager for wireless I/O, notes that the technology has been around since 2003 as a commercial product, but it hadn't until recently found applications in the U.S. For the past five months, though, WISA enabled sensors have seen use used for die verification in a Ford Motor Company stamping plant, Woudenberg says. Other promising applications include end-of-arm sensors for industrial robots, which can be difficult to cable. | ariane | |
| 22/3/2007 08:47 | Looks like your timing was good wally, well done. In 2006, ten ABB local companies ranked among the "China top 100 electric suppliers" according to Electric Era magazine. As a top employer in China, ABB was also rated favorite company by university students in Beijing in February on a public recruiting Website - 51job.com. "China is catching up and sometimes surpassing advanced countries in many industries like metal, ship building, power, oil and gas, auto, thus getting more and more sensitive to quality and technology update. There has been and will be vast room for leading engineering companies like ABB to add values," he said firmly. In November 2006, the Three Gorges-Shanghai high-voltage direct current (HVDC) power link went into operation, six months ahead of schedule, creating a new world record in the industry. As the key technology supplier, ABB's outstanding contribution was highly appreciated by the China State Grid. ABB was also a strong contributor to key national projects including the South to North Walter Diversion, Olympic Games projects, Qinghai-Tibet Railway, etc. "Being the number one market for ABB, we will keep expanding our local facilities, bringing in more technologies and speeding up local innovations," said Koch. "ABB has worked with China for 100 years since 1907, and we are confident to prolong this win-win cooperation far into the future," he added. | sheeneqa | |
| 20/3/2007 18:36 | Investor calendar 2007 February 15 Fourth-quarter and full-year 2006 results April 26 First-quarter 2007 results May 3 Annual General Meeting Zurich/Switzerland May 4 Annual general information meeting Västerås/Sweden May 8 Ex-dividend date July 26 Second-quarter 2007 results October 25 Third-quarter 2007 results | grupo guitarlumber | |
| 19/3/2007 15:55 | cheers she | waldron |
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