ABB facts for kids
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| Public (Aktiengesellschaft) | |
| Traded as | |
| Industry | Electrical equipment |
| Predecessors |
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| Founded | 1988 |
| Headquarters | |
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Area served
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Worldwide |
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Key people
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| Revenue |  US$32.2 billion (2023) |
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Operating income
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US$4.87 billion (2023) |
| US$3.82 billion (2023) |
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| Total assets | US$40.9 billion (2023) |
| Total equity | US$14.1 billion (2023) |
| Owners |
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Number of employees
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c. 105,000 (2023) |
ABB Ltd. is a big company from Sweden and Switzerland. Its main offices are in Västerås, Sweden, and Zürich, Switzerland. ABB is known worldwide for making things that help with electricity, automation, and robotics. It's a very large company, serving customers all over the globe.
ABB was created in 1988. This happened when two older companies, Allmänna Svenska Elektriska Aktiebolaget (ASEA) from Sweden and Brown, Boveri & Cie (BBC) from Switzerland, joined together. Both original companies started in the late 1800s and became major makers of electrical equipment. Today, ABB continues to be a leader in this field.
The company's main work includes making equipment for power generation, sending electricity, and distributing it. They also focus on industrial automation and robotics. Over the years, ABB has bought many other companies, growing its reach around the world. In the 2010s, ABB started focusing even more on robots and industrial automation.
Contents
Discovering ABB's Journey
How ABB Began
Allmänna Svenska Elektriska Aktiebolaget (ASEA) was founded in 1883 in Västerås, Sweden. It started by making electric lights and generators.
Brown, Boveri & Cie (BBC) was formed in 1891 in Zürich, Switzerland. This company made AC and DC motors, generators, steam turbines, and transformers.
On August 10, 1987, ASEA and BBC announced they would merge. They formed a new company called ASEA Brown Boveri, or ABB. The new company had offices in both Zurich, Switzerland, and Västerås, Sweden. Each parent company owned half of ABB. This merger created a huge global industrial group.
When ABB started in 1988, its main activities were power generation, sending and distributing electricity, electric transportation, and industrial automation and robotics.
Growing Bigger in the 1990s
In its first year, ABB bought about 15 other companies. This helped ABB grow its business in different areas. In 1989, ABB bought 40 more companies, including parts of Westinghouse Electric.
In 1990, ABB bought the robotics business of Cincinnati Milacron in the US. This helped ABB become stronger in making robots for car factories. In 1991, ABB introduced the IRB 6000 robot. This was a very advanced robot that could be changed to do many different tasks. It was also one of the fastest and most accurate robots for spot-welding at the time.
In the early 1990s, ABB started to grow in Central and Eastern Europe. By the end of 1991, ABB had 10,000 employees in that region. The next year, this number doubled. ABB also grew a lot in Asia, especially in China, as the economy there opened up. By 1994, ABB had 30,000 employees and 100 factories and offices across Asia.
In 1995, ABB joined its rail engineering part with Daimler-Benz of Germany. Their goal was to create the world's largest maker of trains. The new company was called ABB Daimler-Benz Transportation (Adtranz).
In 1998, ABB bought Alfa Laval's automation unit. This made ABB one of Europe's top suppliers of systems that control industrial processes. In 1999, ABB bought Elsag Bailey Process Automation. This helped ABB grow in high-tech industrial robotics and factory control systems. This also made ABB less reliant on older, heavy engineering work.
Also in 1999, ABB sold its share in the Adtranz train-building business. ABB then focused more on making parts for trains, like electric motors. That same year, ABB and Alstom from France combined their power generation businesses.
Changes and Focus in the 2000s
In 2000, ABB sold its parts of ABB Alstom Power and its boiler and fossil-fuel businesses to Alstom. After this, ABB's power business focused on renewable energy and sending and distributing electricity.
In 2002, ABB faced some challenges. The company successfully reorganized its operations within three years.
In 2004, ABB sold its oil and gas business, ABB Vetco Gray. But ABB still worked with the oil and gas industry through its automation and power technology.
In 2008, ABB bought Kuhlman Electric Corporation, which makes transformers in the US. ABB also acquired Ber-Mac Electrical and Instrumentation to expand in Canada's oil and gas industries.
Innovations and Growth in the 2010s
In 2010, ABB bought K-TEK, a company that makes tools for measuring levels of liquids and solids. ABB also received a grant from the US government to develop energy-storing magnets.
In 2011, ABB invested in ECOtality, a company that develops charging stations for electric vehicles. ABB also bought Epyon B.V., a leader in electric vehicle charging in Europe.
Also in 2011, ABB bought Baldor Electric for $4.2 billion. This helped ABB get a bigger share of the industrial motors business in North America. In 2012, ABB bought Thomas & Betts, a company that makes low-voltage products. ABB also acquired Tropos, which specializes in wireless technology.
In 2013, ABB bought Power-One for $1 billion. This made ABB a top maker of solar inverters. That same year, Fastned chose ABB to provide over 200 fast-charging stations for electric cars along highways in the Netherlands.
In 2016, ABB won a contract for the TANAP gas pipeline project in Turkey. ABB provided the communication, security, and control systems for this very long pipeline.
In 2017, ABB completed its purchase of Bernecker + Rainer Industrie-Elektronik (B&R). B&R is a big provider of industrial automation systems.
In 2018, ABB became the main partner of the ABB FIA Formula E Championship. This is the world's first fully electric international car racing series. Also in 2018, ABB bought GE Industrial Solutions, General Electric's global electrification business.
In December 2018, ABB agreed to sell most of its Power Grids business to Hitachi. This part of ABB became a part of the Hitachi Group and was renamed Hitachi Energy. Hitachi bought the rest of the business in 2022.
ABB in the 2020s
In 2020, ABB agreed to sell its solar inverter business to Fimer, an Italian company.
In 2021, ABB announced it was involved in building the first permanent electric road. This road can power cars, trucks, and buses as they drive.
In December 2022, ABB opened a new, large robotics factory in Shanghai, China. This was a $150 million investment.
In June 2023, ABB agreed to buy Eve Systems, a company that makes smart home automation products.
In September 2023, ABB announced a partnership with the Well Done Foundation. They will work together to monitor methane and greenhouse gas emissions from old, unused oil and gas wells in the US.
In January 2024, ABB bought Real Tech, a Canadian company. Real Tech specializes in special sensor technology for checking water quality in real-time. ABB also acquired Meshmind, an engineering firm, to improve its AI and software abilities.
What Does ABB Make?
Cool Products and New Ideas
In 1990, ABB launched Azipod. This is a special electric system that helps big ships move and steer. It makes ships easier to control, saves fuel, and uses space better.
In 1998, ABB launched the FlexPicker. This robot has three arms and is perfect for picking and packing items in factories.
In 2000, ABB created the world's first system for providing electric power to ships from the shore. This was at the port of Gothenburg in Sweden. When ships are in port, they can turn off their engines, which reduces noise, shaking, and pollution.
In 2004, ABB launched its System 800xA. This is an industrial system used in many industries. Today, ABB is a global leader in these control systems.
In 2013, ABB worked with groups in Geneva on a special trolleybus route. These trolleybuses charge using overhead devices at stops, instead of needing wires all along the route.
In 2014, ABB showed off YuMi. This is a special robot with two arms that can work safely next to people. It helps with assembly tasks in factories.
In 2018, ABB showed its Terra High Power charger for electric vehicles. This charger can give an electric car enough power to travel 200 kilometers in just eight minutes!
Electrification: Powering Our World
ABB's Electrification business makes products and services that handle electricity from power stations all the way to your home. Their customers include factories, power companies, and even homes and offices. This part of ABB is growing fast because of things like renewable energy, electric vehicles, and smart buildings.
Their products include:
- Electric vehicle chargers
- Solar inverters (for solar panels)
- Modular substations (mini power stations)
- Systems for distributing electricity
- Products that protect people and equipment from too much electricity, like circuit breakers
- Measuring devices, control products, and wiring accessories.
This business also offers KNX systems. These systems can connect and automate a building's electrical systems, ventilation, and security. ABB's Electrification Solutions unit also makes switchgear and motor control centers.
Motion: Making Things Move Efficiently
ABB's Motion business makes electric motors, generators, and drives. They also offer digital solutions for power systems. ABB is the top company in this market worldwide. In 2023, ABB Motion also invested in WindESCo, a company that makes software to analyze wind turbines.
Robotics and Automation: The Future of Factories
ABB's Robotics & Discrete Automation business combines factory automation systems from B&R (which ABB bought in 2017) with many different robot solutions.
ABB has installed over 300,000 robots around the world. This business helps create the "factory of the future" by providing flexible manufacturing and smart machines.
ABB is the second largest robotics company globally. They are number one in the fast-growing Chinese market, where ABB is building a new robotics factory in Shanghai.
Process Automation: Controlling Big Industries
The Process Automation business offers services for industries that involve continuous processes, like oil and gas, chemicals, and mining. They provide automation, electrical, and digital services. They also offer control technologies, software, measurement tools, and marine and turbocharging products.
What ABB Used to Do
Power Grids: Sending Electricity Far and Wide
The Power Grids business made parts for sending and distributing electricity. This included factories for transformers, switchgear, circuit breakers, and other high-voltage equipment. They also offered maintenance services.
This part of ABB also provided complete systems for power grids and power plants. This included electrical substations, systems for managing networks, and high-voltage direct current (HVDC) systems.
In 2014, ABB formed a partnership with Hitachi to provide HVDC systems in Japan. In December 2018, ABB and Hitachi announced that Hitachi would take over ABB's entire Power Grids division. This business is now called Hitachi Energy.
Making Trains: A Past Journey
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ABB Group entered the train manufacturing market in 1989. They bought parts of British Rail Engineering Limited (BREL), which used to be owned by the government. ABB took over two train factories in the UK.
The first trains made under ABB ownership were for Glasgow's suburban railways in 1990. ABB also made trains for the Stansted Express service and for Network SouthEast services around London. They also built many diesel multiple units.
Later, ABB Derby made trains for the Waterloo & City line in London. In 1995, ABB Derby built electric freight trains for the Royal Mail. ABB also worked with Brush Traction to build electric locomotives for the Channel Tunnel.
After the British railway system became private, ABB faced more competition. So, ABB closed one of its factories in 1996 and moved all train manufacturing to the other factory. This factory then became part of the Adtranz joint venture between ABB and DaimlerChrysler.
In 1999, ABB sold its share in Adtranz. This meant ABB stopped making complete trains. Adtranz was later sold to Bombardier Transportation.
Who Leads ABB?
In September 2013, Ulrich Spiesshofer became ABB's CEO. In August 2019, Björn Rosengren took over as CEO in March 2020. Before that, ABB Chairman Peter Voser was the temporary CEO.
Who Owns ABB?
The largest single owner of ABB is a Swedish investment company called Investor AB. This company is controlled by the Wallenberg family. Another large owner is Cevian.
See Also
In Spanish: ABB para niños
- GREEN Cell Shipping
- Legrand
- Stromberg (company)
Images for kids
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ABB robots operating in a production line
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Countries where ABB is present
