Switzerland May Leave Rates Near Zero as It Battles `Specter' of Deflation Sep 17, 2009
Switzerlands ABB Ltd., the worlds largest builder of electricity grids, on Sept. 11 predicted growth will continue to come from emerging markets, with India representing an order potential of $10 billion in the years to 2012. Some economists expect the Swiss economy to return to growth in the current quarter. (Bloomberg -- Europe)
Siemens, Areva, Alstom Said to Bid for Control of Israeli Solar Firm Solel Sep 6, 2009
Solel technology is used in the $555 billion Desertec project planned by companies including Siemens and ABB Ltd. in the Sahara Desert to bring electricity to European homes. Siemens on Aug. 28 said it invested $15 million for a stake in Israeli solar company Arava Power Company, which runs a solar energy plant Kibbutz Ketura north of Eilat. (Bloomberg -- Germany)
Siemens, ABB Green Power Orders Boosted by China's $585 Billion Stimulus Jul 23, 2009
July 23 (Bloomberg) -- Three years after passing the U.S. to become the worlds biggest air polluter, Chinas investments in green energy technology are boosting orders for Western power-grid builders like ABB Ltd. as their home markets slump. Backed by a 4 trillion-yuan ($585 billion) economic package, the most populous country on Earth is targeting a 21 percent increase in spending on power transmission this year. (Bloomberg -- Germany)
LEM, Interroll, Exporters to Benefit From Asian Contracts, Schiller Says Jun 30, 2009
June 30 (Bloomberg) -- Investors in Swiss smallcaps should buy component suppliers such as or as they benefit from Chinese contracts for companies including ABB Ltd., , a portfolio manager, said. Many Swiss companies are very strongly represented in Asia and people perhaps underestimate that, Schiller, who advises funds totaling more than 500 million Swiss francs ($460 million) for VV Vorsorge Vermoegensverwaltung in Zug, Switzerland, said in an interview. (Bloomberg -- Europe)
UBS Proposes New Board Members as Three Depart Mar 16, 2009
UBS proposed ABB Ltd. (ABB) financial chief Michel Demare, former Swiss Re (RUKN.VX) financial chief Ann F. Godbehere and Zurich Financial (ZURN.VX) chief risk oficer Axel P. Lehmann as their successors. "I am very excited that we can propose three exceptionally well-qualified candidates for election to the Board of Directors," said outgoing Chairman Peter Kurer. (SmartMoney)
Siemens Seeks Power Acquisitions, Weighs Expansion in Russia, China, India Mar 7, 2009
Swiss rival ABB Ltd. said last month that power generation, transmission and distribution were among the key growth drivers at its Indian unit in the final quarter of last year. Its not just emerging markets with growing populations that will be forced to spend on installing power grids, Niehage said. (Bloomberg -- Germany)
Chinese utility tries to join electricity pioneers Feb 22, 2009
Some equipment was supplied by Siemens AG of Germany and Switzerland's ABB Ltd., but State Grid says most was developed in China by more than 100 domestic producers. "We will be very pleased to share the technology with the international market," said Cheng Mengrong, deputy director-general of State Grid's international department. (Anchorage Daily News)
ABB reports 88 pct drop in 4Q net profit Feb 12, 2009
Swiss-Swedish engineering group ABB Ltd. said Thursday net profit for the fourth quarter dropped 88 percent mainly because of a one-off provision for investigations into alleged price-fixing, and said the outlook "remains uncertain.". Net profit was $213 million for the quarter, down from $1. (International Herald Tribune -- Technology)
