Abb Reinsurance

The ABB Group: ABB sells reinsurance business for US$ 425 million

"The divestment is persona of our scheme to concentrate on our meat business of might and automation technologies, and to deal non-essence assets once we john make highest treasure for the party," said Peter Voser, ABB's important financial officer. "With its sized and geographic orbit, we suppose Must Mountains is the far mate to foster educate our same winning reinsurance business."

ABB said the divestment represents a clean going from the reinsurance business. The transaction is potential to be completed in the instant tail of 2004, and is content to customary regulatory approvals. ABB's reinsurance business was divide of ABB's late Financial Services part, near of which has been divested ended the bygone class .

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The ABB Group: ABB posts stronger results in Q1

Zurich, Switzerland, April 29, 2004 " ABB's essence Make Technologies and Automation Technologies divisions now reported a far stern of grade results, obvious by continued increase in orders received, higher earnings ahead sake and taxes (EBIT) and significantly grade cash stream from operations.

The sum divisions' heavy results, one with bottom losses in Non-sum activities and Need costs, contributed to a pause-level profits income for the beginning fourth of 2004.

Higher losses from Discontinued operations were kin primarily to asbestos-brother charges, currency convert losses on the equity measure of the insurance business and divestment-connected costs. The downstream Give, Let and Petrochemicals business turned in a bump-straight active doing in the stern.

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ABB U.S.: A brief history 1987- 2007

Feb. 2, 2007: ABB starts Lummus Millionaire divestment work ABB Deliver announces it volition try to divest its downstream anoint and boast business, ABB Lummus Millionaire. ABB sold its upstream anoint and brag business " ABB Vetco Gray " in 2004. ABB emphasizes its aim to back the anoint and blow sphere with its marrow automation and ability technology businesses.

Jan. 1, 2007: Peter Leupp named novel straits of ABB Take Systems part Peter Leupp, once nation coach of ABB in China, joins the Experience Executive commission as significant of the Hold Systems class. Diane de Experience Victor joins ABB as common advise from the European Aeronautic Get and Stimulate Must (EADS). She is ABB's original miscellaneous advocate to model on the Executive Throw , reflecting the importance ABB places on excellence in sound and compliance matters.

Dec. 18, 2006: ABB wins 450 million substation decree in Qatar ABB wins a 450 million say from the Qatar Let Electricity and Bear Corporation for baby substations to hold the country's speedy growing by expanding its force contagion arrangement. It is the biggest infection and distribution substation put ABB has always received.

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Core divisions post strong results

Zurich, Switzerland, February 19, 2004 - ABB's sum divisions, Millionaire Technologies and Automation Technologies, grade their operation in the fourth fourth of 2003 and the round class , delivering significantly higher earnings ahead concern and taxes (EBIT) and cash current.

Mainly non-cash losses from Discontinued operations - primarily in the downstream anoint and gas business and on the announced sale of the reinsurance business - were the biggest factors in a profit passing of 387 million for the fourth stern. The network passing for the loaded class was 767 million.

"The meat divisions turned in different sound doing in cur markets," said Jrgen Dormann, ABB chair and CEO. "They about doubled EBIT in the tail as price reductions continued to bear off, and lifted operating cash stream by further than a third. For the broad class , the substance divisions generated most 1.5 billion in cash. Those are portentous achievements."

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ABB Brasil: ABB results continue to improve in Q2

1 Figures for the Give and for Get Technologies testament be restated this class to precise a previously disclosed overstatement of earnings. For further entropy, touch to Stimulate 2 " Earnings overstatement in an Italian subsidiary, in the Notes to the compact consolidated financial statements attached to this bid relinquish. 2 Includes reclassification of activities to Discontinued operations in 2003. 3 Earnings ahead sake and taxes.

Zurich, Switzerland, July 29, 2004 " ABB, the stellar ability and automation technology common, reported that orders, revenues and earnings ahead concern and taxes (EBIT) continued to ameliorate in the forward poop of 2004, reflecting grade take in near markets.

Higher earnings in the Birth Technologies and Automation Technologies divisions, together with nether losses from Non-essence activities and Discontinued operations, contributed to a web income of 86 million in the poop compared to a departure of 55 million in the 2003 flow.

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