Misplaced Pages

#948051

88-688: The PL42AC is a diesel-electric 4-axle locomotive built by Alstom with 16-710G3B prime mover for New Jersey Transit . The first two locomotives were manufactured at the Meinfesa plant in Valencia , Spain in 2003. The 31 following units were assembled at the Alstom Transport plant in Hornell, New York in 2004, and were produced through early 2006. The power rating of the PL42AC locomotives

176-638: A San Francisco -based developer of charging stations and power storage technologies, to enter North America's electric vehicle charging market. On 1 July of that year, the company announced its acquisition of Epyon B.V. of the Netherlands, an early leader in the European EV-charging infrastructure and maintenance markets. During early 2011, ABB acquired Baldor Electric in exchange for $ 4.2 billion in an all-cash transaction; this move aligned with ABB's strategy to increase its market share in

264-543: A $ 1 billion all-cash transaction, to become the leading global manufacturer of solar inverters . That same year, Fastned selected ABB to supply more than 200 Terra fast-charging stations along highways in the Netherlands. In 2016, ABB was awarded a contract on the TANAP gas pipeline project in Turkey to deliver the telecommunications, security and control infrastructure to contribute to safe, secure, and reliable operation of

352-467: A $ 16.9 billion offer, comprising a $ 13.5 billion value plus $ 3.4 billion cash. On 5 May, GE offered to buy one-fourth of the shares in Alstom's Indian power and distribution companies – Alstom T&D India and Alstom India – at 261.25 and 382.20 rupees a share (value US$ 278 million and $ 111 million respectively) subject to its bid for Alstom SA being successful. On 5 May 2014,

440-414: A $ 691 million net loss for 2001. The loss was caused by ABB's decision to nearly double its provisions for settlement costs in asbestos -related litigation against its American subsidiary Combustion Engineering from $ 470 million to $ 940 million; these claims were linked to asbestos products sold by Combustion Engineering prior to its acquisition by ABB. At the same time, ABB's board announced it would seek

528-574: A 2003 deal in Indonesia valued at $ 118 million in particular. On April 13, 2013, Alstom senior executive Frédéric Pierucci was arrested at the John F. Kennedy International Airport in New York . He was accused of willful blindness of his company's suspected corruption and was imprisoned in a high security facility for 14 months and denied release on bail until the week of Alstom's acquisition by

616-538: A 51% shareholding in Linke-Hofmann-Busch from Salzgitter AG . In 1995, the company acquired the remaining shares in the steam turbine manufacturer MAN Energie . In early 1998, GEC Alsthom acquired the electrical contractor Cegelec , renaming it Alstom Power Conversion . In 1998, GEC Alsthom bought Italian firm SASIB 's rail signalling subsidiary Sasib Railways , which included the former General Railway Signal (USA). In June 1998, GEC Alsthom

704-520: A consortium of Alstom ( Alstom Wind ), EDF , and DONG Energy was awarded three major French offshore wind farm contracts, the company initiated construction of factories at Cherbourg-en-Cotentin (turbine blades in association with LM Power , also wind turbine towers) and Saint-Nazaire (Nacelles and generators). Also in 2012, the company formed a joint venture with RusHydro to manufacture hydropower equipment for small and medium power hydropower plants. (up to about 100MW.) Late in 2012, to further

792-559: A design flaw inherited from the acquisition of ABB 's turbine business, in addition to losses in other business sectors. In 2014, General Electric (GE) announced that it reached a deal to purchase Alstom's power and grid divisions for US$ 17 billion (€12.4 billion). The deal came under heavy scrutiny from French regulators who saw the business as a strategically important domestic industry. To secure approval, GE agreed to form joint ventures with French companies in power generation and transmission, Alstom's heavy gas turbine business

880-513: A family of electric propulsion systems that extends below the hulls of large ships, providing both thrust and steering functions. Developed in cooperation with the Finnish shipbuilder Masa-Yards, Azipod has demonstrated the viability of hybrid-electric power in seagoing vessels, while also increasing maneuverability, fuel efficiency and space efficiency. In 1998, ABB launched the FlexPicker,

968-403: A further 10% stake from shareholder Bouygues and an option to form a rail transport joint venture. On 19 June, GE revised its bid, matching the same price with a lower cash transaction value; it also proposed forming a joint venture of their renewable, electric grid, steam turbine and nuclear power businesses. GE announced a memorandum of understanding between the two firms in the rail sector and

SECTION 10

#1732802435949

1056-400: A global industrial group with revenue of approximately $ 15 billion and 160,000 employees. When ABB began operations on 5 January 1988, its core operations included power generation, transmission and distribution; electric transportation; and industrial automation and robotics. In its first year, ABB undertook some 15 acquisitions, including the environmental control group Fläkt AB of Sweden,

1144-593: A greater product overlap and thus a greater risk to jobs, along with potential issues with EU competition regulators. Siemens' offer was characterised as "defensive", being skeptically received by investors and analysts. On 29 April, Reuters reported that Alstom's board had accepted a €10 billion bid by GE for its energy division; In a letter from GE executive Jeffrey R. Immelt to President François Hollande published in Les Echos , Immelt gave assurances about continued investment in Alstom's French activities,

1232-468: A joint venture of Alstom and Gibela began construction of a new 60,000 square metres (650,000 sq ft) train building factory in Dunnotar , outside of Johannesburg , South Africa . Initial orders for the factory included 580 X'Trapolis Mega passenger trains for Passenger Rail Agency of South Africa under a €4 billion contract that was awarded in 2013. In September 2016, Alstom announced it

1320-594: A new 67,000 square metre robotics factory in Shanghai following a $ 150 million investment. In June 2023, ABB agreed to acquire smart home automation provider Eve Systems . In September 2023, ABB announced it would partner with the Well Done Foundation to monitor methane and greenhouse gas emissions from orphaned wells in the United States . In January 2024, ABB acquired Real Tech,

1408-477: A prominent Canadian company specializing in innovative optical sensor technology for real-time water monitoring and testing. It also acquired R&D Engineering Firm Meshmind to Expand AI and Software Capabilities In May 2024, ABB agreed to acquire the wiring accessories business of Siemens in China. This deal will give access to a distribution network across 230 cities in China. In 1990, ABB launched Azipod ,

1496-477: A proposal to merge with Siemens Mobility , the rolling stock division of German conglomerate Siemens ; this merger was promoted as the creation of "a new European champion in the rail industry". The combined rail business, which was to have been reportedly named Siemens Alstom and headquartered in Paris, would have $ 18 billion U.S. in revenue and employ 62,300 people in more than 60 countries. During November 2018,

1584-599: A reported cost of €54 million. As a consequence of an alignment agreement between Transmashholding and another entity, LocoTech-Service , Alstom's stake in the former decreased to 20% in August 2018. In 2011, Alstom and the Iraqi government signed a memorandum of understanding regarding the construction of a new high-speed rail line between Baghdad and Basra . In 2012, Alstom opened construction of factories at Sorel-Tracy , Quebec, Canada (passenger rail vehicles). After

1672-554: A robot using a three-armed delta design uniquely suited to the picking and packing industry. In 2000, ABB brought to market the world's first commercial high-voltage shore-to-ship electric power, at the Swedish port of Gothenburg . Supplying electricity to berthed ships from the shore enables vessels to shut down their engines while in port, significantly reducing noise, vibrations and carbon emissions. In 2004, ABB launched its Extended Automation System 800xA, an industrial system for

1760-560: A variant of their TGV family specially designed for traversing the Channel Tunnel between the UK and France. Although collectively operated by Eurostar , the type was ordered by three different railway companies: 16 by SNCF , four by NMBS/SNCB , and 18 by British Rail , of which seven were shortened North of London sets. The first Class 373 set was completed at GEC Alstom's Belfort facility during 1992. In 1994, GEC Alsthom acquired

1848-671: A wide range of industry and utility operations, plus commercial and residential buildings. The business has strong exposure to a range of rapidly growing segments, including renewables, e-mobility, data centers and smart buildings. Its offerings include electric vehicle chargers , solar inverters , modular substations , distribution automation ; products to protect people, installations and electronic equipment from overcurrents such as enclosures , cable systems and low-voltage circuit breakers ; measuring and sensing devices, control products, switches and wiring accessories. The business also offers KNX systems that integrate and automate

SECTION 20

#1732802435949

1936-401: A €700 million deal), refocused on rail transport. Due to the acquisition, GE accrued $ 17.3bn of goodwill, consisting of Alstom's negative book value of $ 7.2bn at the time of acquisition and the $ 10.1bn purchase price. In October 2018, GE wrote-off $ 23bn from the value of its power industry division, largely attributed to the Alstom purchase. In November 2015, Alstom was awarded a contract by

2024-805: Is dual-listed on the SIX Swiss Exchange in Zurich and the Nasdaq Nordic exchange in Stockholm , Sweden , in addition to OTC Markets Group 's pink sheets in the United States. It was ranked 340th in the Fortune Global 500 list of 2020 and has been a global Fortune 500 company for 24 years. ABB was formed in 1988 when Sweden 's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland 's Brown, Boveri & Cie merged to create Asea Brown Boveri , later simplified to

2112-584: Is 4,200  hp (3.1  MW ) total for tractive effort and head-end power . The locomotive has a design similar to the GE Genesis , mainly due to the fact that both PL42AC and Genesis series locomotives were designed by industrial designer Cesar Vergara . This locomotive uses IGBT technology with precise traction computers for tractive effort. The PL42AC has 800 kilowatts head-end power and WABCO 's EPIC II braking system, along with an E-7 wheel slide device, made by Wabtec , preventing flats spots on

2200-456: The French : Constructions Électriques de France , Tarbes; a manufacturer of electric locomotives as well as electrical and hydraulic equipment. In 1969, Compagnie Générale d'Électricité (CGE) became the majority shareholder of Alsthom. In 1976, Alsthom merged with Chantiers de l'Atlantique , becoming Alsthom Atlantique. Thus, the business expanded into marine. The next year, it constructed

2288-758: The Prevention of Corruption Act 1906 and Criminal Law Act 1977 . Further charges were brought in late 2014 by the SFO in relation to corrupt practices used to obtain energy contracts in Lithuania. Additional charges relating to contracts for the Budapest Metro in Hungary were added in April 2015. In December 2018, three executives of Alstom were found guilty of conspiracy to corrupt following an investigation by

2376-612: The Trans Adriatic Pipeline (TAP) at its border with Greece. On 6 July 2017, ABB announced it had completed its acquisition of Bernecker + Rainer Industrie-Elektronik (B&R), the largest independent provider of product and software-based open-architecture for industrial automation. During January 2018, ABB became the title partner of the ABB FIA Formula E Championship, the world's first fully electric international FIA motorsport series. On 30 June 2018,

2464-552: The 1,067.2 kilometres (663.1 mi) from Calais to Marseille in 3 hours and 29 minutes. In 1986, Alsthom Belfort received an order from EDF for the largest gas turbine in the world (212 MW). In 1988–89, holding company CGEE Alsthom acquired ACEC Énergie (hydroturbines and electrical equipment for the nuclear industry) and ACEC Automatisme (automation) from the dissolution of Belgian electrical engineering company ACEC . Alsthom acquired 100% of ACEC's transport division, renaming it ACEC Transport . In early 1989, GEC Alsthom

2552-500: The 1990s and 2000s, ABB acquired hundreds of other companies, often in central and eastern Europe, as well as in Asia and North America. On occasion, the company's operations have encountered controversy. During 2001, an ABB entity pled guilty for bid rigging ; the firm has also had three US Foreign Corrupt Practices Act bribing resolutions against it; in 2004, 2010, and 2022. In early 2002, ABB announced its first-ever annual loss, which

2640-688: The 1990s, ABB continued its strategy of targeted expansion in Eastern Europe, the Asia–Pacific region and the Americas. During 1995, ABB agreed to merge its rail engineering unit with that of Daimler-Benz of Germany; the goal of this arrangement was to create the world's largest maker of locomotives and railway cars. The new company, ABB Daimler-Benz Transportation ( Adtranz ), had an initial global market share of nearly 12 percent. The merge took effect on 1 January 1996. A few months following

2728-479: The 1990s, the company expanded its holdings in the rail sector, acquiring German rolling stock manufacturer Linke-Hofmann-Busch and Italian rail signaling specialist Sasib Railways. In 1998, GEC Alsthom was listed on the Paris Stock Exchange and, later that year, it was rebranded Alstom. At the time, the company was manufacturing railway rolling stock, power generation equipment and ships. In 2003,

Alstom PL42AC - Misplaced Pages Continue

2816-481: The 33 units, 23 are slated for replacement, while the remaining 10 will receive a light overhaul for continued service. Alstom Alstom SA is a French multinational rolling stock manufacturer which operates worldwide in rail transport markets. It is active in the fields of passenger transportation, signaling, and locomotives, producing high-speed, suburban, regional and urban trains along with trams. The company and its name (originally spelled Alsthom)

2904-678: The Belfort plant's closure in the short to medium term. In June 2017, Alstom opened the largest train modernisation facility in the UK at Halebank on the outskirts of Liverpool . Initial work involved the repainting of the Class 390 Pendolino s. On 12 November 2024, Alstom announced on their official website that the first of 35 fully automated metropolis trains has been delivered to Taiwan . The four-car stainless-steel train can carry up to 700 passengers, including 108 seated, with speeds up to 100 km/h. On 26 September 2017, Alstom announced

2992-636: The European Commission voiced its concerns surrounding the proposed merger of the two companies, particularly that the combined entity would be too dominant in the European market; alleged impacts from such dominance included potential increases in passenger fares and cargo fees. Furthermore, a series of popular protests concerning the financial reforms of both the French territorial railway infrastructure and SNCF occurred. The proposed merger

3080-419: The French government stated it did not back GE's bid, citing concerns on the future of Alstom's rail division as a smaller separate entity, suggesting that GE transfer its own rail division to Alstom; other concerns were over the civil nuclear field's national independence, and French jobs. On 14 May, France issued a decree ( Décret n° 2014-479 du 14 mai 2014 . ), nicknamed " décret Alstom ", extending to power of

3168-512: The French government's 21% holding in Alstom for €2 billion. Later that year, Bouygues elected to increase its shareholding in the firm to 24%. In 2007, the TGV POS set the world speed record for rail vehicles of 574.8 kilometres per hour (357.2 mph). In March, Alstom acquired Power Systems Manufacturing LLC ( Florida , USA) a manufacturer of gas turbine components from Calpine Corporation for $ 242 million. In June, Alstom acquired

3256-763: The French state agreed terms with Bouygues, buying a 20% stake in Alstom from Bouygues at a 2–5% discount on a minimum value of ≈€35 per share. Initially, the acquisition was expected to be finalised by early 2015. In early 2015, the EU Competition Commission began examining the deal. Both EU and US competition regulators approved the deal by September 2015, subject to the divestiture of Alstom's large and very large gas turbine (GT26 and GT36 models) manufacturing and service business; and its GE7FA gas turbine aftermarket parts subsidiary business, Power Systems Mfg. LLC (PSM), to another company, Ansaldo Energia . The sale of Alstom's energy division to GE

3344-687: The Indian Railways to construct an electric locomotive factory in Madhepura ( Bihar ), receiving an initial order of 800 twin-section 9MW locomotives for use on the Eastern Dedicated Freight Corridor , valued at ₹190 billion (about US$ 2.9 billion). This factory was to be operated under a joint venture with the Ministry of Railways (26%) at a cost of ₹ 13 billion (roughly US$ 200 million). In September 2015, it

3432-495: The North American industrial motors business. On 30 January 2012, the company announced the acquisition of Thomas & Betts, a North American specialist in low voltage products for industrial, construction and utility applications, in a $ 3.9 billion cash transaction. On 15 June 2012, ABB completed its acquisition of commercial and industrial wireless technology specialists Tropos. In July 2013, ABB acquired Power-One in

3520-566: The SFO into allegations of several Lithuanian politicians and officials being offered bribes in return for securing contracts. In February 2020, the United Nations published a database of all business enterprises involved in certain specified activities related to the Israeli settlements . Alstom has been listed on the database in light of its involvement in activities related to "the provision of services and utilities supporting

3608-626: The Spanish wind turbine manufacturer Ecotècnia, renamed as Alstom Ecotècnia (since 2010 Alstom Wind ). The company also adopted a new graphic chart (logo, corporate identity) using "alstom" as its trading name, reserving "Alstom SA" for legal documents. In 2009, Alstom acquired a 25% stake in the Russian locomotive manufacturer Transmashholding . Six years later, Alstom decided to increase its shareholding in Transmashholding to 33% at

Alstom PL42AC - Misplaced Pages Continue

3696-789: The US conglomerate General Electric . In late 2014, Alstom was fined $ 772 million by the DOJ, and admitted guilt under the Foreign Corrupt Practices Act in relation to bribes paid to obtain contracts in various countries. In mid-2014, Alstom Network UK was charged by the UK Serious Fraud Office (SFO) in relation to corruption offences alleged to have been committed when obtaining transportation contracts in India, Poland and Tunisia, covered under sections 1 of

3784-548: The US. The acquisition expanded ABB's presence in automated spot-welding and positioned the company to better serve the American automotive industry. ABB's 1991 introduction of the IRB 6000 robot, demonstrated its increased capacity in this field. The first modular robot, the IRB 6000, can be reconfigured to perform a variety of specific tasks. At the time of its launch, the IRB 6000 was the fastest and most accurate spot-welding robot on

3872-563: The company bought K-TEK, a manufacturer of level measurement instruments, for $ 50 million; it was incorporated into ABB's Measurement Products business unit within ABB's Process Automation division. During July 2010, ABB in Cary, North Carolina received a $ 4.2 million grant from the US federal government to develop energy storing magnets. On 10 January 2011, ABB invested $ 10 million in ECOtality,

3960-484: The company bought out ABB's share in the former joint venture ABB Alstom Power. In 2000, Alstom sold its diesel engine businesses ( Ruston , Paxman , and Mirrlees Blackstone ) to MAN Group . It also acquired a 51% stake in Italian rail manufacturer Fiat Ferroviaria , a world leader in tilting technology. In April 2003, Alstom sold its industrial turbine business to Siemens for €1.1 billion. By 2003, Alstom

4048-467: The company completed its acquisition of GE Industrial Solutions, General Electric 's global electrification business. On 17 December 2018, ABB announced it had agreed to sell 80.1% of its Power Grids business to Hitachi ; the former Power Grids division thus became a part of the Hitachi Group and was rebranded to Hitachi Energy . During December 2022, it was confirmed that Hitachi had acquired

4136-401: The company required a €3.2 billion bailout from the French government. As a result, Alstom was compelled to dispose of several of its divisions, including shipbuilding and electrical transmission to Areva , in order to comply with European Union rules on state aid . In 2004, Alstom remained in financial difficulties, having incurred massive unexpected costs (€4 billion) arising from

4224-770: The company signed a letter of agreement to purchase the transportation division of the financially struggling Bombardier Inc. The purchase was finalized in January 2021. Alsthom was founded in 1928 from the merger of French heavy engineering subsidiary of the Thomson-Houston Electric Company – the Compagnie Française Thomson Houston, CFTH – and the Société Alsacienne de Constructions Mécaniques . In 1932, Alsthom expanded into transportation by acquiring

4312-469: The contracting group Sadelmi/Cogepi of Italy, and the railway manufacturer Scandia-Randers A/S of Denmark. During 1989, ABB purchased an additional 40 companies, including Westinghouse Electric's transmission and distribution assets, and announced an agreement to purchase the Stamford, Connecticut-based Combustion Engineering (C-E). During 1990, ABB bought the robotics business of Cincinnati Milacron in

4400-644: The development of its tidal energy business, Alstom acquired Tidal Generation Ltd from Rolls-Royce , however this was later sold to GE in 2015 as part of the sale of Alstom's energy business. In November 2013, Alstom announced it planned to raise €1 to €2 billion through sale of some non-core assets, plus the possible sale of a stake in Alstom Transport, and cut 1,300 jobs. In 2014, Alstom sold its steam auxiliary components activities (air preheaters and gas-gas heaters for thermal power, other industrial heat transfer equipment, and grinding mills) to Triton Partners for €730 million. In November 2014 Alstom

4488-473: The diesel locomotive manufacturer Meinfesa to Vossloh , and Alstom Power Rentals to APR LLC. Six years later, Alstom re-acquired the electric power transmission division of Areva. In 2005, the former Metro-Cammell rail vehicle works in Washwood Heath closed. In the same year, Alstom sold its Australian subsidiary, Alstom Transport Australia and New Zealand, to United Group , which became part of

SECTION 50

#1732802435949

4576-402: The engine. For example, if the on-board computer detects too little oil in the system, it will shut down the engine to avoid damage. In July 2020, NJ Transit announced that older locomotives in the PL42AC fleet will be replaced by additional ALP-45A dual mode locomotives, due to the PL42AC's unreliability and inability to be upgraded to meet new Environmental Protection Agency standards. Of

4664-513: The first 1300 MW generator set for the Paluel Nuclear Power Plant , setting a world record with an output of 1500 MW. In 1978, Alsthom delivered its first TGV to SNCF . The TGV went on to break world rail speed records in 1981 (at 380 kilometres per hour (240 mph)) and in 1990 (at 515.3 kilometres per hour (320.2 mph)). It also set the world endurance record for high-speed train lines in 2001, travelling

4752-536: The high-tech industrial robotics and factory control system sectors, which reducing its reliance on traditional heavy engineering sectors such as power generation and transmission. In 1999, the company sold its stake in the Adtranz train-building business to DaimlerChrysler . Instead of building complete locomotives, ABB's transportation activities shifted increasingly toward traction motors and electric components. That same year, ABB and France-based Alstom , announced

4840-402: The initials ABB. Both companies were established in the late 1800s and grew into major electrical equipment manufacturers, a business in which ABB remains active. Its traditional core activities include power generation, transmission and distribution; industrial automation , and robotics . Between 1989 and 1999, the company was also active in the rolling stock manufacturing sector. Throughout

4928-547: The latter's UGL Rail division. Alstom would restart its manufacturing operations in Australia by the early 2010s. In 2006, Alstom sold its Marine Division to the Norwegian group Aker Yards , with a commitment to retain 25% of the shares until 2010; it also sold Alstom Power Conversion, which became Converteam , in a leveraged buy-out deal funded by Barclays Private Equity France SAS. In June 2006, Bouygues acquired

5016-504: The maintenance and existence of settlements" and "the use of natural resources, in particular water and land , for business purposes". On 5 July 2021, Norway 's largest pension fund KLP said it would divest from Alstom together with 15 other business entities implicated in the UN report for their links to Israeli settlements in the occupied West Bank. On 24 April 2014, unconfirmed reports claimed that US conglomerate General Electric (GE)

5104-554: The marine market. Alstom's share price had dropped by 90% over two years. European competition commission law required Alstom to sell several of its subsidiaries, including its shipbuilding and electrical transmission assets, when it accepted a €3.2 billion rescue plan involving the French state. In 2004, the French state took a 21% stake in Alstom for €772 million and Alstom received an EU-approved bailout worth in total €2.5 billion. The company sold its electrical transmission and distribution ("grid") activities to Areva ,

5192-607: The market. In the early 1990s, ABB started expanding in Central and Eastern Europe . By the end of 1991, the company employed 10,000 people in the region. The following year, that number doubled. A similar pattern played out in Asia, where economic reforms in China and the lifting of some economic sanctions , helped open the region to a new wave of outside investment and industrial growth. By 1994, ABB had 30,000 employees and 100 plants, engineering, service and marketing centers across Asia; numbers that would continue to grow. Through

5280-710: The merger of their power generation businesses in a 50-50 joint company, ABB Alstom Power. Separately, in December 1999, ABB agreed to sell its nuclear power business to British Nuclear Fuels of the United Kingdom. During 2000, ABB divested its interests in ABB Alstom Power and sold its boiler and fossil-fuel operations (including Gas turbines) to Alstom. Thereafter, ABB's power business was focused on renewable energy and transmission and distribution. In early 2002, ABB announced its first-ever annual loss,

5368-665: The multinational train maker headquartered in Berlin , Germany for between €5.8 billion and €6.2 billion. The deal required the approval by Alstom shareholders at a meeting to be held in October 2020 and approval by European regulators. Bombardier's major shareholder, Caisse de dépôt et placement du Québec , had already agreed to the sale. ABB ABB Ltd is a Swiss multinational electrical engineering corporation headquartered in Zurich , Switzerland . Owing to its history, it

SECTION 60

#1732802435949

5456-478: The pipeline throughout its lifetime. The TANAP pipeline is the largest diameter and with 1,850 km length, the longest pipeline ever built in Turkey, crossing 20 districts and will bring Azerbaijan's natural gas through Georgia, Turkey and Greece into the rest of Europe. The $ 11 billion TANAP pipeline will interconnect with the South Caucasus Pipeline (SCP) at Turkey's border with Georgia and

5544-578: The process industries. Today, the company is the global market leader in distributed control systems. In May 2013, ABB Sécheron SA joined with several groups in Geneva TOSA (Trolleybus Optimisation Système Alimentation, or in English, Trolleybus Power System Optimization) in a one-year demonstration of a trolleybus route using a novel charging system. Rather than overhead wires, charging is accomplished by fixed overhead devices located at stops along

5632-442: The proposed merger with Siemens. On 6 February 2019, the planned merger between the two companies was vetoed by the European Commission. In response to this ruling, Alstom's Chief Executive Officer Henri Poupart-Lafarge stated that he viewed the decision to block the merger was a result of "ideological prejudices". In mid-February 2020, Alstom announced that it had signed a Memorandum of Agreement to buy Bombardier Transportation ,

5720-593: The remaining 19.9% of the business. In March 2020, ABB announced that it had agreed to sell its solar inverter business to Italian solar inverter manufacturer Fimer; the transaction includes all of ABB's manufacturing and R&D sites in Finland, Italy and India, along with 800 employees across 26 countries. During mid-2021, ABB announced its involvement in the construction of the first permanent electric road that powers private vehicles and commercial vehicles such as trucks and buses. During December 2022, ABB opened

5808-469: The return of money "paid in excess of obligations to Goran Lindahl and to Percy Barnevik," two former chief executive officers of the group. Barnevik received some $ 89 million in pension benefits when he left ABB in 2001; Lindahl, who succeeded Barnevik as CEO, had received $ 50 million in pension benefits. In 2004, ABB sold its upstream oil and gas business, ABB Vetco Gray, to a consortium of private equity investors for an initial sum of $ 925 million; despite

5896-713: The route and at the terminus. Jean-Luc Favre, head of Rail ISI, discussed the promising role of improved electric transport technology in ABB. In 2014, ABB unveiled YuMi, a collaborative industrial dual-arm assembly robot that permits people and machines to work side by side, unlocking new potential for automation in a range of industries. In 2018, ABB unveiled the Terra High Power charger for electric vehicles, capable of delivering enough to charge in eight minutes to enable an electric car to travel 200 kilometers. ABB's Electrification business area offers products and services from substation to socket. Customers include

5984-630: The sale of GE's rail signalling unit to Alstom. On 20 June, Siemens and MHI modified their bid, with MHI increasing its stake in Alstom's steam, hydro, and grid businesses to 40% in all three (total €3.9 billion) while Siemens increased its offer by €400 million to €4.3 billion. Subsequently, Economy minister Arnaud Montebourg stated he would block both bids, but the French government backed GE's offer and had given GE more specifications on commitments and guarantees; it also intended to buy two-thirds of Bouygues' shareholding (20%). The next day, Alstom's board backed GE's revised bid. On 22 June,

6072-616: The sale, ABB continued to play an active role in the oil and gas industry via its core automation and power technology businesses. During 2005, ABB delisted its shares from the London Stock Exchange and Frankfurt Stock Exchange . During the following year, the company ended its financial uncertainties via the finalization of a $ 1.43 billion plan to settle asbestos liabilities against its US subsidiaries, Combustion Engineering and ABB Lummus Global, Inc. A three-part capital strengthening plan also aided in ABB's recovery. In August 2007, ABB Lummus Global, ABB's downstream oil and gas business,

6160-421: The security of the civil nuclear sector, and on job commitments made by Alstom Wind , whilst making its wind activities available to investors. On 30 April, Alstom confirmed that an offer for its power and grid divisions (representing an equity value of €12.35 billion, €11.4 billion enterprise value ) was under review with key interests including the French state. On 30 April, GE confirmed it had made

6248-490: The start of the 1997 Asian financial crisis , ABB announced plans to accelerate its expansion in Asia as well as to improve the productivity and profitability of its Western operations. The firm took an $ 850 million restructuring charge and shed 10,000 jobs as the firm shifted more resources towards emerging markets and scaled back some of its facilities in higher-cost countries. In June 1998, ABB announced that it would acquire Sweden-based Alfa Laval's automation unit, which at

6336-771: The state to veto the takeover of "strategic interests" into areas of energy supply, water, transport, telecoms and public health. Both the French employer organisation MEDEF and the European Commissioner for Internal Market and Services ( Michel Barnier ) responded negatively to the decree. On 16 June, Siemens and Mitsubishi Heavy Industries (MHI) submitted a competing offer for Siemens to acquire Alstom's gas turbine activities for €3.9 billion while MHI would form joint ventures with Alstom, acquiring 40%, 20% and 20% stakes in Alstom's steam and nuclear, electrical grid, and hydroelectric businesses respectively, for €3.1 billion. The proposal included an offer to buy

6424-509: The time was one of Europe's top suppliers of process control systems and automation equipment. During 1999, as a final step in the integration of the companies formerly known as ASEA and BBC, the directors unanimously approved a plan to create a unified, single class of shares in the group. That same year, ABB completed its purchase of Elsag Bailey Process Automation, a Netherlands-based maker of industrial control systems, in exchange for $ 2.1 billion. The acquisition increased ABB's presence in

6512-491: The wheels through software and hardware. It has an Intelligent Display Unit (IDU) based on Bombardier Transportation technology from which an engineer or technician can view data or download events and faults from the previous weeks or months. The technician can do a host of tests from the IDU to determine if a specific system is operating correctly. The PL42AC uses computer hardware and software to control functions and to protect

6600-524: Was announced that Amtrak would award Alstom a contract for $ 2.5 billion for the next generation high-speed train sets for the Northeast Corridor . This would result in the creation of 750 jobs across upstate New York with 400 direct manufacturing jobs at Alstom. The order for 28 Avelia Liberty trainsets was officially confirmed in August 2016 by Amtrak. These trainsets are manufactured at Alstom's plant in Hornell, New York . In March 2016,

6688-476: Was attributed to asbestos -related litigation. Within three years, the company had successfully restructured its operations. During the 2010s, ABB has largely focused its growth strategy on the robotics and industrial automation sectors. Prior to the sale of its Power Grids division to Hitachi in 2020, ABB was Switzerland's largest industrial employer. Allmänna Svenska Elektriska Aktiebolaget (ASEA, English translation: General Swedish Electrical Limited Company)

6776-609: Was awarded a $ 429.4 million contract to modernise 85 trains for the Mexico City Metro system. Starting in 2009, Alstom's practices were questioned by the United States Department of Justice (DOJ), which violated the 1977 Foreign Corrupt Practices Act . This American law has extraterritorial scope. At the time, Alstom seemed to cooperate with the proceedings. In 2010, the DOJ opened an investigation into Alstom's commercial practices, focusing on

6864-401: Was facing a financial crisis caused by a mix of poor sales and over $ 5 billion of debt liabilities. It reportedly had the potential to force the company's liquidation. These heavy debts were largely due to a $ 4 billion charge over a design flaw in a turbine developed by ABB , acquired by Alstom in 2000, as well as the collapse of customer Renaissance Cruises amid a general downturn in

6952-508: Was finalised on 2 November 2015; the final valuation being €12.4 billion, of which €9.7 billion was transferred to Alstom, the remainder being reinvested in GE/Alstom joint ventures plus other corrections. The acquired businesses were reorganised within GE's existing power generation business ( GE Power & Water ) as GE Power . The remainder of Alstom Group, including GE Signalling (acquired via

7040-604: Was formed by a merger between the electric engineering division of Société Alsacienne de Constructions Mécaniques (Als) and Compagnie Française Thomson-Houston (thom) in 1928. Significant acquisitions later included the Constructions Électriques de France (1932), shipbuilder Chantiers de l'Atlantique (1976), and parts of ACEC (late-1980s). A merger with parts of the British General Electric Company formed GEC Alsthom in 1989. Throughout

7128-553: Was formed from a 50–50 merger of Alsthom and the Power Systems Division of the British General Electric Company ; for Alsthom this move was intended to aid Alsthom in selling its products outside the French market. In May of that year GEC Alsthom bought British rail vehicle manufacturer Metro-Cammell . During the early-1990s, GEC Alsthom was the principal manufacturer of the British Rail Class 373 ,

7216-689: Was founded in 1883 in Västerås, Sweden by Ludvig Fredholm as manufacturer of electrical light and generators. Brown, Boveri & Cie (BBC) was formed in 1891 in Zurich, Switzerland by Charles Eugene Lancelot Brown and Walter Boveri as a Swiss group of electrical engineering companies producing AC and DC motors , generators, steam turbines and transformers. On 10 August 1987, ASEA and BBC announced they would merge to form ASEA Brown Boveri (ABB). The new corporation would remain headquartered in both Zurich, Switzerland and Västerås, Sweden, with each parent company holding 50 percent. The merger created

7304-481: Was in acquisition talks with Alstom for $ 13 billion with the support of 29%-shareholder Bouygues, causing Alstom's share price to rise 18% in one day. On 27 April, Le Figaro reported that a rival 'cash plus asset swap' offer was issued by Siemens , trading Alstom's power business for part of its rail arm, plus a cash offer as good as GE's and job guarantees. Siemens' bid was reportedly promoted by French economic minister Arnaud Montebourg . Siemens and Alstom had

7392-486: Was listed on the Paris Stock Exchange ; both GEC and Alcatel elected to sell off part of their stakes (23.6% each). Around this time, the company was officially renamed Alstom . In 1999, Alstom bought half of ABB 's power systems division, forming a 50-50 joint company known as ABB Alstom Power. Alstom also bought Canada's Télécité, a passenger information and security solutions company, and sold its heavy-duty gas turbine business to General Electric . The next year,

7480-602: Was sold to Ansaldo Energia , and GE agreed to sell Alstom's rail signalling business. The deal was finalised in November 2015; since then, Alstom has been operating solely in the rail sector. In an attempt to grow its rail business, in late-2017, Alstom announced a proposed merger with Siemens Mobility . However, in February 2019, the European Commission prohibited the merger. Subsequently, in February 2020,

7568-663: Was sold to CB&I in exchange for $ 950 million. The sale led to ABB making an accelerated $ 204 million payment to the CE Asbestos PI Trust, a trust fund covering the asbestos liabilities of Combustion Engineering. During 2008, ABB agreed to acquire Kuhlman Electric Corporation, a US-based maker of transformers for the industrial and electric utility sectors. In November 2008, ABB acquired Ber-Mac Electrical and Instrumentation to expand its presence in Western Canada's oil and gas industries. In September 2010,

7656-530: Was to cease locomotive manufacturing at its Belfort (France) site by 2018 due to low orders; remaining production activity was to be transferred to its facility of Alstom DDF in Reichshoffen , Alsace . However, during October 2016, the French state placed an order of about €650 million for 15 TGV Euroduplex trains; an order for 20 locomotives; plus an order for 30 intercity trains to be built at Reichshoffen. Together, these orders were sufficient to prevent

7744-464: Was viewed by some as a measure to counter the rise of rival Chinese rail business CRRC ; it reportedly received support from many figures within both the French and German governments. The transaction, which was originally due to close by the end of 2018, was met with opposition by French trade union officials who voiced their concerns that such a merger would have the potential for job losses. On 17 July 2018, Alstom shareholders overwhelmingly approved

#948051