Following the presentation of ABB's industrial IT philosophy and vision at last year's POWER-GEN in Brussels, its next step on the road was outlined in Milan last week, where the company will showed how plant automation, asset optimization, and collaborative business systems can be seamlessly linked in realtime.
ABB`s Combustion Engineering unit has acquired Combustion Power Company from National Power Company for an undisclosed sum. The deal gives ABB access to CPC`s patented Fines Circulating boiler technology, a fluidized bed design for small to mid-scale applications such as cogeneration.
International engineering group ABB is to make changes to its group management structure aimed at boosting business growth areas. The changes will effectively alter the company`s regional reporting structure and recast business activities along global lines.
Swiss-Swedish engineering group ABB is to raise $480m in a private placement to buy back shares in ABB AB, one of its two parent companies. A new single share will be traded that will end a complex structure in which the company was owned by five different financial instruments.