Skip to content
Hsbcbusiness

Hsbcbusiness

Absolut the Business

Primary Menu
  • Absolut Business
  • Business
  • business
  • General
  • Finance
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • ABB to spin off turbocharging business to shareholders
  • Business

ABB to spin off turbocharging business to shareholders

By Barbara Miriam 6 months ago

[ad_1]

The logo of Hitachi ABB is seen at an office building in Zurich, Switzerland September 10, 2020. Picture taken September 10, 2020. REUTERS/Arnd Wiegmann/

Register now for FREE unlimited access to Reuters.com

ZURICH, July 20 (Reuters) – ABB (ABBN.S) will spin off its turbocharging business to its shareholders, the Swiss engineering and technology company said on Wednesday, with the aim of listing it on the SIX Swiss Stock Exchange in October.

Shareholders will receive one share in the business, which ABB renamed Accelleron this year, for every 20 ABB shares they hold if the decision is approved at an extraordinary general meeting in September.

The proposed spin-off is part of ABB’s strategy to simplify its portfolio and focus more on electrification and industrial automation.

Register now for FREE unlimited access to Reuters.com

ABB, which reports second-quarter earnings on Thursday, had been considering a sale or a spin-off of Accelleron, which generated sales of $756 million in 2021 and employs 2,300 people globally. read more

Accelleron’s products are used in the marine, energy, rail and off-highway sectors, where they are used to increase engine output and raise efficiency while also reducing fuel consumption.

“After careful consideration involving a dual-track process, we have concluded that spinning off Accelleron is the best way forward – for Accelleron itself and for ABB’s shareholders,” ABB Chief Executive Bjorn Rosengren said in a statement.

“This decision also forms a key part of ABB’s active portfolio management while allowing our shareholders to actively participate in the future growth of this Swiss champion.”

ABB said it has kept Credit Suisse and Goldman Sachs International as exclusive financial advisers on the transaction. Credit Suisse will act as listing agent.

Register now for FREE unlimited access to Reuters.com

Reporting by John Revill
Editing by David Goodman

Our Standards: The Thomson Reuters Trust Principles.

[ad_2]

Source link

Tags: "Ca Business Search, Amazon Business Login, Amazon Business Prime, Bank Of America Business Account, Best Business Schools, Business Attorney Near Me, Business Bank Account, Business Card Holder, Business Card Maker, Business Card Template, Business Cards Near Me, Business Casual Attire, Business Casual Shoes, Business Casual Woman, Business Plan Examples, Ca Sos Business Search, Capital One Business Credit Card, Chase Business Checking, Chase Business Credit Cards, Chase Business Customer Service, Chase Business Login", Chase Business Phone Number, Cheap Business Cards, Citizens Business Bank, Cox Business Login, Digital Business Card, Facebook Business Suite, Finance In Business, Free Business Cards, Google Business Login, Harvard Business School, Lands End Business, Massage Parlor Business Near Me, Michigan Business Entity Search, Mind Your Business, Mind Your Own Business, Ohio Business Search, Risky Business Costume, Skype For Business, Small Business Loan, Small Business Saturday 2021, Starting A Business, Texas Business Entity Search, Triumph Business Capital, Vending Machine Business, Verizon Business Customer Service, Vonage Business Login, Wells Fargo Business Account, Yahoo Small Business, Yahoo Small Business Login

Continue Reading

Previous 9 VR Marketing Examples to Inspire You in 2022
Next Five must-haves of a conversion worthy ecommerce website
February 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728  
« Jan    

Archives

  • February 2023
  • January 2023
  • December 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • October 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • December 2020
  • November 2018
  • October 2018
  • January 2017

Recent Posts

  • An assassination, a feud and the fight for power in Iraq’s Kurdistan By Reuters
  • 7 Fact-Finding Strategies Entrepreneurs Must Pursue Before Developing Their Product
  • The Worst Mistakes that a Vacation Rental Business Can Make
  • An Action Plan For Embracing Change
  • WaPo Opinion names six to leadership team

BL

Tags

"Ca Business Search Amazon Business Login Amazon Business Prime Att Business Login Bank Of America Business Account Best Business Schools Business Attorney Near Me Business Bank Account Business Card Holder Business Card Maker Business Cards Near Me Business Card Template Business Casual Attire Business Casual Shoes Business Casual Woman Business Plan Examples Capital One Business Credit Card Ca Sos Business Search Chase Business Checking Chase Business Credit Cards Chase Business Customer Service Chase Business Login" Chase Business Phone Number Cheap Business Cards Citizens Business Bank Cox Business Login Digital Business Card Facebook Business Suite Finance In Business Free Business Cards Google Business Login Harvard Business School Lands End Business Massage Parlor Business Near Me Michigan Business Entity Search Mind Your Business Mind Your Own Business Ohio Business Search Risky Business Costume Skype For Business Small Business Loan Small Business Saturday 2021 Starting A Business Texas Business Entity Search Triumph Business Capital

Randomize

Baby Names

scorpion exterminator las vegas 

hsbcbusiness.xyz | Magazine 7 by AF themes.