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ABB

Last edited by Ian Elwood on July 11, 2008 - 4:28pm
Company Snapshot: 

ABB (formerly Asea Brown Boveri) is a Zürich, Switzerland-based multinational, one of the largest engineering and construction companies in the world, with operations in 100 countries.

Ownership status: 
Publicly traded
Number of employees worldwide: 
111,000
Chief executive officer: 
Fred Kindle
2008 Global Fortune 500 rank: 
ABB
Website: 
http://www.abb.com/
Corporate accountability
Environment and product safety: 

ABB Lummus Global, Inc. is involved in a number of fossil fuel-based power plant projects around the world, including the Sual 1,200MW coal-fired power plant (Philippines), the Limay 600MW oil-fired power plant (Philippines), the Jorf Lasfar 700MW coal-fired power plant (Morocco), the Paiton and Jawa power complex (3,280MW coal) (Indonesia), Azito 300MW gas-fired power plant (C'ote D'Ivoire), Termobarranquilla 980MW gas-fired power project (Columbia), and Phu My 2 (phase one and two) 1,165MW gas-fired power plant (Vietnam). (For more information see the Sustainable Energy and Economy Network).

Political influence: 

In July 2004, ABB subsidiaries settled charges by the US Securities Exchange Commission and Department of Justice for illicit payments associated with the company's operations in Nigeria. (ABB Ltd. was subject to the Foreign Corrupt Practices Act’s books and records provisions as a company listed on U.S. exchanges.) Its subsidiaries were charged with bribery, and ABB itself was charged with failing to maintain adequate internal controls. The company paid a $5.9 million civil penalty. Two subsidiaries paid a total $10.5 million criminal penalty.

Financial information
Stock ticker symbol: 
ABB
Total revenue: 
$ 24,412 million
Fiscal year: 
2006
Net Income: 
$1.390 billion
Fiscal year: 
2006
Major lines of business/segments: 

See company web site: Power Plants and related products; Power Systems; Automation Products; Process Automation; Robotics

Link to annual report: 
http://www.abb.com/cawp/abbzh251/6fba2705cb6e1d7ec1256c59003383cc.aspx
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