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What is ABB about?

ABB is a Swiss-Swedish engineering company with over 115 years of history. It was formed in 1988 through the merger of Swedish company ASEA and Swiss company BBC. Under CEO Percy Barnevik from 1993-2001, ABB aggressively expanded globally through acquisitions and partnerships. However, this led to huge financial losses in the early 2000s due to neglected macroeconomic issues. A new strategy under Jurgen Dormann from 2002-2004 emphasized simplicity, cost-cutting, and avoiding non-core businesses. While losse

Author

Farzana Akter 28

Language

EN