Abb Ltd (ABBN.S)
* ABB PROVIDES POWER STRUCTURE FOR TURKEY’S MOST ADVANCED DATA CENTER Source text: https://bit.ly/2WaLDdB Further company coverage: (Berlin Speed Desk)
ZURICH Swiss engineering company ABB fleshed out its latest revamp on Thursday, saying it would focus more on digital industries as it reported better-than-expected fourth-quarter earnings.
* Faces stiff competition from Siemens, Mitsubishi, Rockwell (Rewrites, adds CEO, analyst)
ZURICH ABB will not be making big acquisitions in the near future, Chief Executive Ulrich Spiesshofer said on Thursday, saying money raised from the near-$8 billion gained from the sale of its power grids business will go to shareholders.
ZURICH, Feb 28 ABB will not be making big acquisitions in the near future, Chief Executive Ulrich Spiesshofer said on Thursday, saying money raised from the near-$8 billion gained from the sale of its power grids business will go to shareholders.
* ABB CEO SAYS DOES NOT RULE OUT ACQUSITIONS, BUT PRIORITY IS TO ALLOCATE CASH FROM POWER GRID SALE TO SHAREHOLDERS
* ABB CEO SAYS TAKING MARKET SHARE IN ROBOTICS FROM COMPETITORS IN CHINA Source text for Eikon: Further company coverage: (Reporting by John Revill)
ZURICH, Feb 28 ABB reported better-than-expected earnings during its fourth quarter, the Swiss engineering company said on Thursday, in its first results since it sold its $11 billion power grids unit and launched its latest business revamp.
* ABB WINS $42 MILLION ORDER FOR TRAIN TECHNOLOGIES FROM INDIAN RAILWAYS
ZURICH ABB reached a deal with Japan's Hitachi to sell its Power Grids division, with the Swiss engineering group adding it plans to return net cash proceeds of $7.6-7.8 billion from selling the 80.1 percent stake in the unit to shareholders. | Video