Abb Share Discussion Threads

[waldron] 26/3/2006 07:15

2005 Dividend
ABB's Board of Directors has proposed a dividend for 2005 of CHF 0.12 per share. Translated into U.S. dollars using year-end 2005 exchange rates, the dividend corresponds to approximately 26 percent of ABB's 2005 net income. The proposal is subject to approval by shareholders at the company's annual general meeting, scheduled for May 4, 2006, in Zurich, Switzerland. Should the proposal be approved, the ex-dividend date would be May 9, 2006.

[Abuse team] 25/3/2006 16:44

Post removed by ADVFN

[blessings] 25/3/2006 16:43

Claimants still have 30 days to lodge objections to the decision, but the vast majority have already signalled their acceptance of the cash and shares offer.

The order will become final on March 31 if no appeal is filed within the 30
day appeals period.


Hopefully we will see institutions buying after this date, if there is no objections.

[Abuse team] 21/3/2006 17:50

Post removed by ADVFN

[waldron] 21/3/2006 17:47

[March 21, 2006]


Brazil begins probe into alleged cartel by Japanese, European firms+

(Japan Economic Newswire Via Thomson Dialog NewsEdge)RIO DE JANEIRO, March 21_(Kyodo) _ Brazil's Justice Ministry has launched investigations into three Japanese and four European companies on suspicion they have formed a cartel concerning sales of electric generator-related equipment, a ministry statement, dated March 20, said.



The three Japanese companies are Toshiba Corp., Japan AE Power Systems Corp. and Mitsubishi Corp., while the ABB Group of Switzerland and Siemens AG of Germany are among the four European corporations.

These companies allegedly impeded fair competition in Brazilian and other markets for machines designed to reduce voltage of electricity generated at electric power plants for sale to general users, the statement said.

[blessings] 20/3/2006 11:13

ABB turns wind into power in Quebec
2006-03-20 - Having completed work on a Quebec wind farm in March 2005, ABB says it plans to be a major player in ongoing plans to turn Canada's wind resources into useable electric power.



"This was our first wind project in Canada," said Jean Guay, ABB's vice president of sales and marketing for power products and systems, "but it won't be our last. We look forward to helping develop more of the country's wind resources."

A 14-fold increase in Canada's wind power is projected by 2013, to a capacity of 8,000 MW from 570 MW. Studies suggest the country could meet 20 percent of its electricity needs by readily-developable wind resources A 14-fold increase in Canada's wind power is projected by 2013, to a capacity of 8,000 MW from 570 MW. Studies suggest the country could meet 20 percent of its electricity needs by readily-developable wind resources, but it produces only 0.3 percent of electricity by wind today. A proposed increase to 8,000 MW would bump that percentage to about 4.0 percent.

[blessings] 14/3/2006 15:55

ABBXM call CHF 18.00 21.12.2007 5 CH0024086537 20'000'000 Banque Cantonale Vaudoise
ABBTB call CHF 19.00 16.06.2006 4 GB00B1021V02 67'000'000 Goldman Sachs International
ABBVH call CHF 19.00 15.09.2006 5 CH0024680305 50'000'000 Bank Vontobel AG
ABBTD call CHF 19.00 15.09.2006 4 GB00B1021X26 36'000'000 Goldman Sachs International
ABBDD call CHF 19.00 15.12.2006 5 CH0024680339 50'000'000 Bank Vontobel AG
ABBFF call CHF 19.00 16.03.2007 8 CH0024680354 50'000'000 Bank Vontobel AG
ABBTV call CHF 19.00 21.12.2007 8 CH0024680388 50'000'000 Bank Vontobel AG
ABBVY call CHF 20.00 15.09.2006 5 CH0024680313 50'000'000 Bank Vontobel AG
ABBXR call CHF 20.00 15.12.2006 4 CH0024684166 12'000'000 Banque Cantonale Vaudoise
ABBTE call CHF 20.00 15.12.2006 4 GB00B1021Y33 32'000'000 Goldman Sachs International
ABBGG call CHF 20.00 16.03.2007 8 CH0024680362 50'000'000 Bank Vontobel AG
ABBBM call CHF 20.00 21.12.2007 5 CH0023858753 50'000'000 Bank Vontobel AG
ABBXN call CHF 20.00 21.12.2007 5 CH0024086578 20'000'000 Banque Cantonale Vaudoise
ABBUM call CHF 20.00 19.12.2008 10 CH0024575711 50'000'000 Bank Vontobel AG
ABBXJ call CHF 20.00 19.12.2008 5 CH0024086370 20'000'000 Banque Cantonale Vaudoise
ABBHH call CHF 21.00 16.03.2007 8 CH0024680370 50'000'000 Bank Vontobel AG
ABBXS call CHF 22.00 19.12.2008 5 CH0024684182 15'000'000 Banque Cantonale Vaudoise
ABBXT call CHF 22.00 18.12.2009 5 CH0024684208 15'000'000 Banque Cantonale Vaudoise
ABBIM call CHF 25.00 19.12.2008 10 CH0024575737 50'000'000 Bank Vontobel AG
ABBET call CHF 42.05 13.06.2006 3.97 CH0010958491 20'000'000 UBS AG

[blessings] 14/3/2006 14:07

ABB wins $76 million substation order in U.K.
March 13, 2006 - ABB, the leading power and automation technology group, said today it has won a $76 million turnkey substation contract with the U.K. utility, National Grid, to strengthen the power supply southeast of Manchester, one of the country's largest and most important cities.

[waldron] 13/3/2006 08:41

Credit Suisse Ups ABB Target To CHF19

Monday, March 13, 2006 3:21:20 AM ET
Dow Jones Newswires



0707 GMT [Dow Jones] Credit Suisse raises its target price for ABB (ABB) to CHF19 from CHF15, saying restructuring and cost-cutting is likely to push EBIT margins to 9.4% and 10.6% in '06 and '07, respectively, from 7.8% in '05. Also notes estimated 8% growth in organic sales for '06 and improved pricing. Raises EPS forecasts for '06 and '07 by 8% and 13% respectively. Keeps its outperform recommendation. ABB shares closed Friday at CHF15.50. (HJS)

[waldron] 12/3/2006 18:11

ABB boss believes firmly in using robots in production
Zhang Fengming
2006-03-13
FRANCE, Sweden, China and then Germany. Shuffling around four countries in four days, Anders Jonsson's schedule seems like a standard version of a top brass' working timetable.

Jonsson, a 55-year Swede, really can't figure how much time he has to spend on a plane flying around Europe, Asia and America this year after taking the new post of executive vice president and a member of the group executive committee of ABB Ltd in January.

He also holds another title as the head of the Zurich-based firm's global robotics division based in Shanghai, the commercial hub of the world's fastest-growing major economy.

The ABB veteran may spend two-thirds of his time this year outside the city to boost the Swedish firm's robotics business worldwide.

When he is in the city, being idle is an exception.

He and his team of more than 10 robotics managers will hold a meeting in Shanghai late this month to seek more growth engines within the division.

Jonsson will also meet ABB's Chief Executive Officer Fred Kindle, who will be in Shanghai in early April to plan the firm's future in China.

Lots of challenges and opportunities are looming ahead, some unpredictable.

However, Jonsson is confident of one thing - China is a key point to implement his strategy to boost the robotics business globally.

"China will be a big contributor to the (robotics) sales growth worldwide as a fast-growing market," Jonsson said. "That's part of the reasons we set up our global robotics headquarters here in Shanghai."

He is confident of a solid double-digit growth in China and the first digit "will definitely be bigger than one" he said with a smile.

The robotics headquarters is due to start operations in Shanghai in April.

Locating the division headquarters in Shanghai helps ABB stay closer to the local market - an edge Jonsson believes ABB has over its main Japanese competitors.

One challenge for him is to persuade his Chinese customers, including those from the automotive sector, that an expensive factory robot is worth buying because the machine can work precisely under a severe environment that humans can't endure despite a higher cost. He strongly believes robots can help improve work efficiency and are cost-effective, although China's labor costs are lower than in the developed nations.

The world's top factory robots maker opened a robotic plant in Shanghai, the first in Asia, in March 2005. The plant serves mainly the auto and electronics industry in China and also Asia. More engineers will join the firm's research and development facility for the robotics sector this year.

ABB also teamed up with Shanghai Jiao Tong University, China's prestigious university for science and technology, last December to seek and train local talents in the area.

The Swiss-Swedish engineering firm also seeks opportunities to cooperate with other Chinese universities to boost local R&D capacity in the future.

ABB divided its two power and automation business into five business areas - power products, power systems, automation products, process automation and robotics - in January.

Earlier this month, ABB said it posted a US$2.4 billion revenue in China in 2005, up 20 percent from a year ago, enabling China to surpass Germany as ABB's second biggest market after the United States.

The firms aims to maintain an annual revenue growth of 20 percent by 2008.

Jonsson has worked in Shanghai since 2005 as the head of ABB's automation technologies division in China.

The Swede started his ABB career three decades ago as a research engineer and worked in various positions such as production site manager, group vice president and group senior vice president.

Higher post. Tighter schedule. More responsibility.

But Jonsson, despite being a very busy executive, showed a different dimension to his life. For example, he would rather make himself a cup of coffee than let his assistant do it.

"I am a man who prefers the do-it-yourself style," Jonsson said with a subtle smile.





Anders Jonsson

Executive Vice President and member of the Group Executive Committee of ABB Ltd, Zurich, Switzerland.

Head of Robotics Division based in Shanghai.

Experience

2006 - Head of Robotics Division worldwide based in Shanghai. He is also executive vice president and member of the Group Executive Committee of ABB Ltd, Switzerland

2005-2006 - Head of automation technologies division China and group senior vice president

2004-2005 - Head of operational excellence automation technologies division worldwide. Also group senior vice president on Zurich

2003-2004 - Group senior vice president and business area manager of drives, motors & power electronics in Zurich

[blessings] 08/3/2006 09:58

Every aspect of its business is critical to China's success -- in fact, they are already an intrinsic part of China's economy and industry -- but let's first focus on oil.

This company uses proprietary SCADA/EMS technology (Supervisory Control and Data Acquisition/Energy Management Systems) to create "smart" pipelines that ensure the reliable flow of oil to China's gargantuan industrial engine.

SCADA/EMS provides "real time" information for the supervision, control, and management of large-scale power networks like oil pipelines.

The system collects, stores, and analyzes data from hundreds of thousands of data points throughout the network in order to optimize operations, pinpoint faults, preempt outages, and optimize energy trading markets.

Simply put, this company is building "the brain" inside China's vast network of oil pipelines. This "brain" optimizes supply and directs a reliable and plentiful flow of oil with pinpoint accuracy to where it is needed most, when it is most needed. It delivers the ONE ESSENTIAL THING China's industry needs to keep growing -- plentiful oil -- rationally and efficiently distributed according to market principles.

This company is the dominant foreign player in China's all-critical oil distribution market -- and its double-digit sales growth reflects its dominance.

And it expects revenues to increase by 20% annually in China -- to $4 billion -- by 2008.

Not surprisingly, this company is expanding its already MAJOR commitment to growing its status as a principal player in China's energy future. It is hiring an additional 5,000 employees in China to bring the total there to 12,000. And it is investing an additional $100 million to fund projects, such as a new research and development center in Beijing. But as industry heats up, it will be, too.

Bank Pictect in Geneva is extremely bullish on its Swiss compatriot's near- and long-term China prospects. As one executive recently noted,

"China offers huge potential...in power-transmission and distribution equipment...[and in] automation products, particularly as we expect Chinese companies to seek to move up the quality ladder."

And these executives point to the Olympic Games in 2008...the World Expo in Beijing in 2010...and China's goal to quadruple per-capital GDP by 2020...to justify their optimism.

China desperately needs to put its best foot forward to the world at these public milestone events. And they will absolutely need to strengthen and automate its energy infrastructure to meet its goals.

But this company isn't waiting for 2008...2010...or 2020 to put its best foot forward. They are working overtime right now to satisfy China's insatiable appetite for oil. Here are just two of the China pipeline contracts rolling in:



1. Sinopec Crude Oil Pipeline

Sinopec, China's $31 billion oil and gas giant, chose this company to automate the longest crude pipeline in China (over 1200 kilometers). The pipeline will connect two deepwater ports and oil terminals to Sinopec's Zhenhai refinery-China's largest and most technologically advanced refinery. They won the contract over several global competitors based on "best price, fastest delivery time, extensive Chinese expertise, best resources, and highest reliability."

2. PetroChina Pipeline Automation System

PetroChina, another oil giant, chose this company to automate the pipeline carrying crude oil from the Jang An oil fields to the refinery in Xian Yang. The global team completed this 460-kilometer pipeline project in one of the tightest timeframes on record for a state-of-the-art installation: just nine months from contract award to completion.
And this company is doing much, much more than oil pipeline automation to supply China with the energy and power to become a first-world mega power. For example, this company...


Built an HVDC transmission link between hydropower resource-rich Yangtze River and heavily industrialized Jiangsu Province, and a replica link to boom-province, Guandong, in record time
Upgraded China's urban electricity network and extended it to rural areas

Sold over 10 million units of its miniature circuit breaker to Beijing for the city's "one family, one meter" program-and the program is just beginning

Provided more than 60% of the "hydrocracking" technology used by Sinopec and PetroChina

Delivered its electrical and control system to Baosteel to achieve steel wire rolling speeds of 400 km an hour-faster than a Formula One race car.

Instead of oil shortages or power outages, China's factories, electric utilities, and refineries can look forward to the smooth, steady energy to power China's ascent to world economic dominance. All thanks to this one company. Article by the Oxford Club.

[waldron] 08/3/2006 06:41

Power firm to up investment
By Zheng Lifei (China Daily)
Updated: 2006-03-08 06:14


ABB, a power and automation technology firm, saw its revenue in China grow by 20 per cent year-on-year last year to US$2.4 billion, making the country the firm's second largest market after the United States.

"Our very strong performance in China last year was driven by our ability to support the country's fast economic expansion," said Michel Demare, executive vice-president of ABB Group.

China has overtaken Germany to become the second-biggest market for ABB, which makes such things as transmission equipment for electricity power networks.

"We hope China will one day become the No 1 market for us.

"Localization and cost migration have contributed strongly to our successful operations in China," said Demare, also ABB Group's chief financial officer (CFO).

The Swiss-headquartered company has so far made a total investment of US$700 million in China.

It added five new factories and 1,000 people to its China operations in 2005, bringing its total number of plants to 25 and increasing its China workforce to 8,500.

The technology firm also opened a research centre in Beijing last year.

"We will continue to make significant investment in the country," the CFO said, adding that the future pace of investment would be even higher than the current one, which has averaged US$60 million annually over the past several years.

In 2004, ABB set an ambitious plan for its China expansion, targeting year-on-year growth of 20 per cent and a revenue of US$4 billion by 2008.

"ABB is now on track with this strategy," said the CFO, who is currently visiting China.

The power and automation giant also plans to make locally-produced products, which it says will account for 80 to 90 per cent of all of its sales in China.

By the end of last year, 78 per cent of its products sold in China were already locally manufactured, according to Demare.


(China Daily 03/08/2006 page10)

[waldron] 07/3/2006 08:40

UBS Raises ABB To Neutral From Reduce

Tuesday, March 07, 2006 3:15:53 AM ET
Dow Jones Newswires



0650 GMT [Dow Jones] UBS upgrades ABB (ABB) to neutral from reduce, lifts target price to CHF16 from CHF8.10. "We see ABB end markets high growth potential and we acknowledge that the company's track record towards improving its profitability has significantly improved over 2005 compared with what it has been over the last years," UBS says. Currently, shares trade in line with other electricals and higher than large machinery companies, and look fully valued, he says. Shares closed at CHF15.95. (HJS

[waldron] 06/3/2006 13:03

Monday 6 March 2006





News  

ABB wins further orders to boost steel production
ABB, the leading power and automation technology group, today reported another five orders for static var compensators (SVC) for steel mills around the world. The orders are a continuation of the successful year 2005, which was concluded with an SVC Light order during the end of the year. These six orders, worth a total of $20 million will help steel makers to meet their booming demand.

"The strong demand for cutting-edge SVC technology is continuing after a highly successful year in 2005," said Samir Brikho, head of ABB's Power Systems division. "These orders demonstrate that customers appreciate how this technology can help them to increase production."

The new contracts – for plants in Canada, Greece, Spain and the U.S. – are for SVCs with power ratings of between 64 and 200 Mvar.

Static var compensators stabilize massive voltage disturbances caused by electric arc furnaces during the steelmaking process, securing power quality and significantly higher levels of production. They do not require additional investment in other components in the steelmaking process.

ABB has delivered more than 200 SVC installations to the steel industry worldwide and has a pioneering tradition in the field as the innovator of both SVC and SVC Light, the latter a unique technology that creates a smooth and stable voltage in the melting process and reduces flicker and harmonics to levels impossible to reach with conventional SVCs.

SVC and SVC Light are part of ABB's package of flexible AC transmission systems (FACTS) technologies that enhance the security, capacity and flexibility of power transmission systems.

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 103,000 people.

[blessings] 01/3/2006 19:37

Expected upgrade Another benefit of the settlement is the expected upgrade of ABB shares from junk to buy status, according to Riedel.

"This would help their credit rating and help them find new investors. Some funds are not allowed to invest in junk-rated companies, so this would also be good news.

"People are realising that ABB are really on track to reaching their targets."

The part I like best.......Funds will be able to buy...

[waldron] 01/3/2006 19:28

1. March 2006, Swissinfo







Asbestos ruling clears the air for ABB

A United States federal judge has approved a $1.43-billion deal (SFr1.88 billion) that settles long-running asbestos litigation against the ABB engineering group.





The decision gives the green light for ABB's revised restructuring plan of its US Combustion Engineering subsidiary.

And it means that ABB, which is based in Zurich, can now concentrate on developing its core business of power and automation technologies.

Claimants still have 30 days to lodge objections to the decision, but the vast majority have already signalled their acceptance of the cash and shares offer.

Tuesday's ruling by a federal judge in a New Jersey court also does not affect separate, but smaller, litigation against ABB's Lummus Global division.

The Swiss-Swedish company bought Combustion Engineering, a US firm that had in the 1970s produced asbestos-lined boilers, in 1990 despite pending lawsuits from former workers.

ABB was soon swamped by an avalanche of litigation soaring to more than 100,000 claims which brought the company to the brink of bankruptcy in 2002.

Major restructuringA change of leadership followed by major restructuring has now revived ABB's fortunes.

Bank Sarasin analyst Andreas Riedel believes the positive outcome in the US district court will enable managers to get on with the job of continuing the turnaround.

"The asbestos issue has absorbed a lot of management capacity which can now be channelled into more profitable areas," he told swissinfo.

"The non-core business [including Combustion Engineering and Lummus], which is still included in the operating profit, dragged the company's operating profit (Ebit) margin down to 2.4 per cent in 2005.

"They are now able to divest these groups and concentrate on the core activities in the automation and power markets with the aim of meeting their Ebit target of ten per cent by 2009."

Expected upgradeAnother benefit of the settlement is the expected upgrade of ABB shares from junk to buy status, according to Riedel.

"This would help their credit rating and help them find new investors. Some funds are not allowed to invest in junk-rated companies, so this would also be good news.

"People are realising that ABB are really on track to reaching their targets."

The protracted legal wrangling cost ABB dearly in terms of both time and money. The company revealed earlier this month that the total bill for asbestos litigation, including legal fees, would probably top $2 billion.

It also had to revise a reported $201-million profit in 2004 into a $35-million loss, after a US court threw out a proposed compensation deal that forced the firm to up its offer by $232 million to asbestos claimants.

Bitter blowThat ruling in December 2004 was a bitter blow to ABB after close to 100 per cent of claimants had accepted the package. The asbestos saga then dragged through various courts for another year until Tuesday's ruling.

Litigation still hangs over ABB's Lummus Global division that also made products that contained the cancer-inducing material.

But the number of claims against Lummus represents a fraction of the total litigation, and ABB expects this case to be resolved in the near future.

One glimmer of a silver lining has been the upturn in fortunes for Lummus, which has continued to produce infrastructure for the now booming power industry.

Lummus profitABB was unable to sell Lummus while it was shrouded in litigation, and the division is now turning in a profit.

But ABB chief executive Fred Kindle told swissinfo at the company's annual results meeting that it was unlikely that Lummus would be retained as a core business, despite its recent record.

"It would be rather opportunistic to reclassify it as core, and our long-term strategy requires clarity. The fact that it is now profitable means that if we sold it at some point there is more value in the sale than before," he said.

Last year ABB recorded a profit for the first time since 2000 with a net income of $735 million (SFr963 million), compared with a loss of $35 million the previous year.

swissinfo, Matthew Allen in Zurich

[waldron] 01/3/2006 18:31

ABB says US district court confirms its reorganized asbestos litigation plan

ZURICH (AFX) - ABB said the US District Court has confirmed the revised plan
of reorganization for its US subsidiary Combustion Engineering (CE), drawing a
line under the Swiss/Swedish engineering group's asbestos litigation troubles.
Under the plan, which protects ABB and its subsidiaries against current and
future asbestos claims, ABB has committed 1.43 bln usd to a trust fund for
asbestos claims against CE.
The order will become final on March 31 if no appeal is filed within the 30
day appeals period.
The decision is "one of the last milestones towards a final resolution of
this issue," said the group's chief executive Fred Kindle.
The reorganisation plan had to be reworked after it was rejected by a US
court last year.
[e-mail]
ckj/ckj/hjp

[waldron] 01/3/2006 12:20

ABB Litigation Nears Home Stretch

Wednesday, March 01, 2006 5:30:56 AM ET
Dow Jones Newswires



0900 GMT [Dow Jones]--ABB (ABB) is nearing the home stretch in the asbestos litigation, notes Helvea. "There is still a residual risk that an appeal will be filed and that the process could be delayed again," says Helvea. "However, we believe that even if this did materialize it is unlikely that ABB would be unable to pass the plan through at a later date." Keeps accumulate rating, target CHF17. Shares +1.3% at CHF15.90. (HJS)

[blessings] 01/3/2006 11:14

ABB to engineer big upgrade for huge hydroelectric plant
2006-02-28 - ABB is installing protection and control systems to modernize the Guri power plant in Puerto Ordaz, Venezuela, the second largest hydroelectric plant in the world.
By Editorial services
Upgrades will strengthen the national power grid, part of a USD 26 million contract from ELELCA (Electrificacion del Caroni).

With 10 GW of installed capacity, Guri supplies 60 percent of the electricity demand in Venezuela – including all the country's major industries and population centers. Along with the retrofit, ABB will provide installation and training through a consortium from offices in Venezuela, Canada and Switzerland.

[waldron] 28/2/2006 17:23

ABB Abestos Settlement Already Priced In

Tuesday, February 28, 2006 12:00:53 PM ET
Dow Jones Newswires



1544 GMT [Dow Jones]--ABB (ABB) -3.9% at CHF15.85, reversing Monday's sharp gains. Expectations are for an announcement of the ending of abestos litigation later this evening, trader says, after last week's announcement that no appeal to plan has been filed. Most investors are already pricing in the end to litigation, he adds. Regardless of abestos ruling, look for shares to find floor around CHF15.15 to CHF15.25 before advancing further, trader says. (KAB)

[waldron] 28/2/2006 12:18

ABB Down 2.7% As Seller Floods Market

Tuesday, February 28, 2006 6:30:37 AM ET
Dow Jones Newswires



1014 GMT [Dow Jones] ABB (ABB) stabilizes around CHF16 level, down 2.7%. Stock was pushed down in early trading, in high volumes, by a "very aggressive seller," trader says. "We've already had half of the total volume of Monday in the first two hours of trade." Says stabilization might hint that a decline has triggered buy orders in the market, or that a seller has filled his order and called it a day. The decline doesn't seem to be newsflow-driven, he says. (HJS)

[sheeneqa] 27/2/2006 13:45

Looking strong for this year, when the asbestos litigation is behind us we should move ahead. Nice little bonus of a dividend as well.