Switzerland’s ABB Group is one of the key players in the areas of automation and power technology. The company was founded in 1988, when Allmänna Svenska Elektriska Aktiebolaget of Sweden merged with Switzerland’s Brown, Boveri & Cie. to form ABB Group.
In the fiscal year of 2016, ABB Group generated around 11 billion U.S. dollars in revenue from its Power Grids segment, contributing about 31 percent of the company’s unconsolidated revenue that year. The segment offers products and solutions in the field of power generation, transmission and distribution networks. Furthermore, the Power Grids division continued to lead ABB Group’s order intake. The Swiss firm received orders to the value of about 33.4 billion U.S. dollars in the fiscal year of 2016, and incurred just under 5.4 billion U.S. dollars in selling, general and administrative expenses.
With a market value of around 48 billion U.S. dollars, Zurich-headquartered ABB ranks among the world’s largest conglomerates, trailing only heavyweight conglomerates such as General Electric, United Technologies, 3M, Danaher and Honeywell International of the United States, as well as Germany’s Siemens and Hong Kong's CK Hutchison.
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