![]() For more information please contact:Ĭountry Communications Manager, ABB, Inc. ABB operates in more than 100 countries with about 135,000 employees. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. The orders were booked in the last quarter of 2016.ĪBB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Together they will bring reliable electricity to more than 100 million people. The other orders were in India ($640 million), USA ($100 million) and Brazil ($75 million). Among other projects, ABB has also supported Philippines’ largest solar farm with a complete electrical balance of plant (eBoP) solution, further reinforcing its commitment to providing reliable energy to help meet growing demand while minimizing environmental impact.ĪBB’s Power Grids division has won 4 major orders recently, collectively worth over $840 million, including this order, to deliver state-of-the-art power transmission technologies across 3 continents. This is the second major order that ABB has received from NGCP, having won an order for three transformers in 2016. ABB’s Power Grids division, which will deliver the NGCP project, is the world leader in its segment. ![]() ![]() As part of ABB’s Next Level strategy, we are committed to support the development of power infrastructure in growing markets around the world” said Markus Heimbach, Managing Director of ABB’s Transformers business unit, a part of the company’s Power Grids division.ĪBB is the partner of choice for stronger, smarter and greener grids around the world as it supports national utilities and grid operators to take advantage of the Energy and Fourth Industrial Revolutions. “We are pleased to partner with NGCP for this important upgrade that will strengthen the Philippines’ power grid, enhance efficiency and improve reliability of power supply to consumers. The 18 transformer units from ABB will be installed in key substations across the country. NGCP is executing a structured program to strengthen the aging power grid. The new transformers will enhance grid reliability and increase power capacity to support economic growth.Īn aging infrastructure coupled with a fast-growing population and an agenda of industrial and economic development is driving the demand for reliable electric power in the Philippines. ![]() The company's shares have reportedly lost about 12% since the start of the year.ABB wins $27 M transformer order to strengthen Philippines power gridĪBB has won orders worth approximately $27 million from the National Grid Corporation of the Philippines (NGCP) to design, supply and commission 18 transformers. La rge buyout and infrastructure funds and Asian companies could be interested in the power grid division, though companies in Asia may face regulatory hurdles, according to the report.ĪBB's shares closed 1.7% higher on Aug. Spiesshofer wanted to increase the division's margin to a range of 10% to 14%, but the margins still did not reach that level last quarter.ĪBB has not started a formal sale process yet and could also consider pursuing a spinoff or even retaining the asset instead, the p eople told Bloomberg. ABB and Solar Philippines deliver pioneering solar power plant project. The Swiss company has been under pressure from activist investor and its second-largest shareholder Cevian Capital AB to separate its power grids division.ĪBB CEO Ulrich Spiesshofer decided to keep the division in October 2016 after a strategic review, opting to buy back shares and selling smaller assets. ABB is a pioneering technology leader that works closely with utility, industry, transportation and infrastructure customers to write the future of industrial digitalization and realize value. The unit's implied valuation surged to about $10.2 billion following increased productivity and margins, representing about one-fifth the size of ABB's overall market capitalization, according to Bloomberg's estimates. is weighing divesting its power grid unit amid an increase in the latter's valuation, Bloomberg News reported, citing people with knowledge of the matter.
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