Election 2014
SENSEX NIFTY
ABB > Company History > Infrastructure - General > Company History of ABB - BSE: 500002, NSE: ABB
YOU ARE HERE > MONEYCONTROL > MARKETS > INFRASTRUCTURE - GENERAL > COMPANY BACKGROUND - ABB
ABB
BSE: 500002|NSE: ABB|ISIN: INE117A01022|SECTOR: Infrastructure - General
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Apr 17, 17:00
847.80
16.2 (1.95%)
VOLUME 58,398
LIVE
NSE
Apr 17, 17:00
848.25
16.3 (1.96%)
VOLUME 188,447
Company History - ABB
1949
 
 - The company was Incorporated on 24th December, at Mumbai.  The main
 objects of the company is to manufacture transformers, electric
 motors, all-aluminium conductors, furnaces, extra H.T.  airblast
 circuit breakers, panels and switchboards.
 
 - Asea Brown Boveri (ABB), established a subsidiary of the
 Swedish-Swiss ABB Asea Brown Boveri.  The ABB group, comprising about
 1000 companies, has operations in 140 countries and is involved in
 power generation, transmission and distribution (T&D), industrial
 equipments and systems, and factory automation. 
 
 1964
 
 - In August, 20,000 Pref. shares issued to collaborators.  1,20,000
 Right Equity shares offered at par in prop. 1:1.
 
 1965
 
 - In September, the Company's name was changed from Hindustan
 Electric Co. Ltd., to Hindustan Brown Boveri Ltd.
 
 1976
 
 - 60,000 Bonus Equity shares issued in prop. 1:4.
 
 1978
 
 - 1,00,000 Bonus Equity shares in prop. 1:3.
 
 1982
 
 - The Company issued on 12th April, 1,00,000-13.5% secured
 non-convertible debentures of Rs 100 each as rights to resident
 Indian equity shareholders.  These debentures are redeemable at a
 premium of 5% on the expiry of the 7th year in four annual
 instalments commencing
 from 1989.
 
 - The Company allotted 5,00,000-18% non-convertible debentures of Rs
 100 each by private placement basis to financial institutions.  These
 debentures are redeemable at a premium of 5% in three equal annual
 instalments commencing from 1998 with premium payable in the second
 instalment.
 
 1984
 
 - The project for the manufacture of industrial steam turbines with
 Gujarat Industrial Investment Corporation Ltd., progressed with
 Government approving the collaboration agreement with AG Kunhle, Kopp
 & Kausch, West Germany.
 
 1986
 
 - The company allotted to each of UTI and LIC 1,50,000-15%
 non-convertible debentures of Rs 100 each by private placement
 aggregating to Rs 300 lakhs.  The debentures are redeemable in 1933
 at a premium of 5%.
 
 - 1,00,000 Right Equity shares issued (prem. Rs 60 per share, prop.
 1:4).  5,000 No. of equity shares were offered to employees (prem. Rs
 60 per share).  Another 2,500 No. of equity shares were offered to BBC
 Brown Baveri & Co. Ltd., Switzerland in addition to their rights
 entitlement.  All shares were allotted on 1.11.1986 except 196 shares
 of the employees quoted which were allotted on 3rd August 1987.
 
 1987
 
 - On 9th January, the Company set up Integra Hindustan Control Ltd.
 for the manufacture of relay and signalling equipment for the
 Railways using technology of Integra Ltd., Zurich, Switzerland.  This
 project was set up at Halol in Panchmahan district of Gujarat State.
 
 - The Company jointly with Pradeshiya Industrial and Investment
 Corporation of U.P. Ltd., promoted a company under the name of
 National Switchgears Ltd.
 
 - The joint venture company set up a project for the manufacture of
 switchgears at Rae Bareli, U.P.
 
 - The Industrial licences were received for mini-computer/
 microprocessor based systems, modems, switch mode power supplier and
 keyboards.
 
 - The Company entered into collaboration with Danish Windpower A/s,
 Denmark for the manufacture of wind energy conversion systems. 
 
 1988 
 
 - The Electronics division was commissioned power line carrier
 communication equipment for the HVDC line developed by the Andhra
 Pradesh Electricity Board.
 
 - Consequent to the merger of Asea (renamed ABB), Sweden, and BBC
 Brown Boveri (renamed ABB), Switzerland, the Indian operations of
 both companies were also merged.
 
 - 40,000 Pref. shares converted into 20,000 No. of equity shares
 (prem. Rs 100 per share).
 
 1989
 
 - The first back-to-back high voltage direct current transmission
 link for NTPC at Vindhyachal, connecting the Northern and Western
 regional power grids was commissioned in August.
 
 - Asea Ltd. (ASL), was amalgamated with Hindustan Brown Boveri Ltd.
 (HBBL), with effect from 1st January.  Pursuant to the Scheme of
 Amalgamation HBBL were to issue and allot to the equity shareholders
 of ASL, 45,85,590 No. of equity shares of Rs 10 each at par of HBBL
 credited as fully paid up in the proportion of 5 equity shares of
 HBBL for every 6 equity shares of ASL held.
 
 - Pursuant to the Scheme of Amalgamation of Asea Ltd., with the
 Company, the name of the Company was changed from Hindustan Brown
 Boveri Ltd. to Asea Brown Boveri Ltd., with effect from 13th October.
 
 
 1990
 
 - Shares subdivided on 16th March 1989.  45,85,590 No. of equity
 shares of Rs 10 each then issued without payment in cash to members
 of Asea Ltd., in prop. 5:6.
 
 1992
 
 - The Company issued 49,30,295 No. of equity shares of Rs 10 each at
 a premium of Rs 50 per share on rights basis in the proportion of 1:2
 (all were taken up).  Additional 7,39,544 shares were allotted to
 retain oversubscription.
 
 - The parent company increased its equity stake in ABB from 40 to 51
 per cent in 1992.
 
 - Another 2,46,515 No. of equity shares of Rs 10 each at a premium of
 Rs 50 per share were offered to the employees.  All were taken up.
 
 - Simultaneously, the Company issued 47,54,734 No. of equity shares
 of Rs 10 each at a premium of Rs 50 per share to the foreign
 collaborators viz., ABB Asea Brown Boveri Ltd., on private placement
 basis to raise their holding to 51% after issue and allotment of
 rights shares,
 additional shares and shares to employees.
 
 1994
  
 - The Company offered to take a majority stake in a BIFR registered
 boiler manufacturing company in India that would enable the Company
 to provide full range of equipment and turnkey services for building
 power plants in the country.  The Company made an entry into low
 voltage switchgear business.
 
 - A joint venture company namely `ABB Daimler-Benz Transportation AG'
 (AD Tranz) was established by ABB Zurich and Daimler-Benz AG, Germany
 in Germany.
 
 - A subsidiary of AD Transz was incorporated in India viz., `ABB
 Daimler-Benz Transportation (India) Ltd.' which took over the
 Transportation business of the Company effective 1st January, 1996.
 
 - Another group company - Flakt India - in which the parent held 51
 per cent was merged with ABB.  ABB has always been a key supplier of
 power equipments in the country, ushering in the latest technology. 
 
 - The Company set up a new factory at Mysore in Karnataka State for
 the manufacture of various electronics products including EPABX
 exchanges.
 
 - Another group company - Flakt India - in which the parent held 51
 per cent was merged with ABB.  ABB has always been a key supplier of
 power equipments in the country, ushering in the latest technology.
 
 - Amalgamation of Flakt India Ltd., with Asea Brown Boveri Ltd.  with
 effect from 5th October.  Pursuant to the scheme of amalgamation,
 Flakt India Ltd. were to issue 36,88,196 No. of equity shares of Rs
 10 each at par of the Company credited as fully paid up in the
 proportion 1:2.
 
 1995
 
 - The company was awarded the engineering procurement construction
 (EPC) job for the Integrated steel project.
 
 1996
 
 - All the Gas Turbines of the combined cycle power plant for GVK
 Industries Ltd. were commissioned.  The entire undertaking relating
 to the Transportation business was transferred as a going concern to
 ABB Daimler-Benz Transportation (India) Ltd.
 
 - GVK's 235-MW Jegurupadu CCPP, for which ABB Asea Brown Boveri was
 the turnkey EPC contractor, became the first fast track power project
 to go on stream.
 
 1997
 
 - Transmission and Distribution segment introduced new products like
 72.5 KV switchgears for the U.S. market and indigenous static relays.
 Major substation commissioned during the year include 220 KV
 switchyard for Andhra Pradesh State Electricity Board and 145 KV
 switchyard for
 Bhushan Steel Ltd.
 
 - A process control system for petrochemical complex of Reliance
 Industries Ltd. at Hazira was commissioned.
 
 - The Company proposed to commission greenfield transformer project
 at Vadodara.
 
 - 103,54,589 Bonus shares issued in prop. 1:3.
 
 - ABB has taken majority stake holding in Birla-Kent Taylor acquiring
 51 per cent in the company from C K Birla group, while the other
 company has become its fully-owned subsidiary.
 
 - ABB has taken stakes in the following projects.  1) Neyveli Power
 project in Tamil Nadu (250 MW) developed by CMS generations 2)
 Jegurupadu power project in AP (235 MW) developed by GVK industries
 (five percent stake) 3) Pench power project in MP (500 MW) developed
 by 
 Soris funds (20 percent stake).
 
 - Asea Brown Boveri of Switzerland has picked up 70 lakh preferential
 shares in ABB-ABL, the Durgapur-based boiler maker which was taken
 over by ABB India under a rehabilitation plan cleared by the Board of
 Industrial and Financial Reconstruction.
 
 - ABB Holdings of South Asia will pick up the cumulative redeemable
 preferential shares of Rs.100 per share with 13 per cent return on
 investment for a period of 10 years.
 
 - ABB Holdings South India Ltd. already set up a 100 per cent
 subsidiary in the country.  This company would act as a holding
 company and consolidate the shareholding of ABB Switzerland and its
 overseas subsidiaries held in different Indian companies.
 
 - ABB has recently set up a greenfield turbine and generator
 facilities in Baroda.  The plant has an annual capacity of 1500 MW
 (15 x 100 MW or 3 x 500 MW) but it will start with the manufacture of
 only steam turbines upto 100 MW.
 
 - The ABB group has developed many innovative technologies such as
 SF6 technology for circuit breakers, Advant open control system (for
 process industries) and direct torque control technology (for
 variable speed drives).
 
 - ABB has a joint venture - ABB Alfa Stal Refrigeration - with Alfa
 Laval for food and non-food refrigeration systems.
 
 - Industry and building systems is being expanded.  An engineering
 centre for petrochemical processing and a software centre for
 development of automation and control systems are proposed to be set
 up.  The company has a inhouse R&D centre.
 
 - ABB will install paint finishing systems for Volvo India Ltd, a 100
 per cent subsidiary of Swedish automobile giant Volvo, for its heavy
 duty truck manufacturing unit coming up at Hoskote near Bangalore.
 ABB's contract with Mahindra & Mahindra involves upgradation of the
 latter's manufacturing facility at Andhra Pradesh.
 
 - The power purchase agreement (PPA) for the Andhra Pradesh power
 project was signed on March 31, after the Mittals acquired the
 contract for the project through participation in the global tender
 floated by the Andhra Pradesh State Electricity Board earlier.
 
 - The Confederation of Indian Industry (CII) and Asea Brown Boveri
 (ABB) have signed a MoU for setting up a total quality management
 institute.  It will provide a range of education and training
 programmes on quality aimed at industry, service institutions,
 educational bodies and Government agencies.
 
 - The 10,800 No. of equity shares are proposed to be acquired by ABB
 Zurich through ABB South Asia Holdings Limited. 
 
 - ABB is setting up a communication link at Korba for the Daewoo
 project.
 
 - Asea Brown Boveri Limited (ABB) has formed two joint ventures to
 build a new service organisation in ABB Poland to provide the widest
 scope of service activities for electrical industrial equipment. 
 
 - The companies viz., ABB Huta Katowice Services Ltd, a 60:40 joint
 venture between ABB and Huta Katowice, and ABB Service Ltd, a 65:35
 joint venture between ABB and Dolnoslaska Spolka Inwestychjna (DSI)
 is owned by KGHM Polish Copper.
 
 - ABB Oil and Gas Europe BV (Lummus) of the Netherlands, part of the
 Zurich-based -billion Asea Brown Boveri group, intends to set up a
 wholly-owned subsidiary in India to cater to the
 petrochemicals/chemicals and other core sector industries in India.
 
 1998
 
 - Electrical engineering giant Asea Brown Boveri (ABB) is increasing
 its stake to 74 per cent in the joint venture with M P Birla group
 company Universal Cables. 
 
 - ABB has signed an agreement with the Birlas to increase its equity
 in Universal ABB Power Cables Ltd. from present 51 per cent and will
 approach the Foreign Investment Promotion Board (FIPB) for bringing
 in the foreign investment.
 
 - Universal-ABB Power Cables, a joint venture between MP Birla group
 and ABB set up to manufacture high and extra high voltage (EHV) XLPE
 power cables has inaugurated its plant at Satna, Madhya Pradesh.  The
 plant incorporates advanced and fully automated cable manufacturing
 technology.
 
 - Universal ABB Power Cables Ltd, a joint venture between the MP
 Birla group and ABB, has commissioned its new plant to manufacture
 high and extra high voltage (EHV) XLPE power cables.  The plant, the
 first of its kind in south Asia, incorporates the latest technology
 in cable 
 manufacturing called the vertical continuous vulcanisation (VCV)
 process through an automated, 105 metre tall vulcanisation line. 
 
 - ABB Ltd, the Swiss-Swedish electrical engineering major, has picked
 up 50 per cent equity stake in the Rs.4,690-crore Korba East power
 project promoted by Daewoo Power, a 100 per cent subsidiary of the
 Korean chaebol.
 
 - Daewoo has taken up another power project in Kol Dam, Himachal
 Pradesh, in which ABB holds minority stake along with Bechtel and
 Siemens.
 
 - ABB ABL, a member of the Swedish multinational group Asea Brown
 Boveri, is introducing the Ljungstrom rotary air-preheaters to the
 Indian boiler market under the licence of ABB Air Preheater Inc.,
 (API) USA.
 
 - ABB-AAPL Projects (AAPL) will be merged with the Swedish electrical
 giant to dovetail its Indian operations and carry forward ABB's
 overall restructuring plan adopted at Zurich in August. 
 
 - The company offered a two-stage voluntary retirement scheme (VRS)
 which reduced manpower from 5,600 to around 3,500.
 
 - Public Sector National Thermal Power Corporation (NTPC) signed a
 memorandum of understanding with the Swedish conglomerate ABB for the
 formation of a joint venture for its renovation and modernisation
 programmes to be carried out both within and outside the country.
 
 1999
 
 - In the letters of intent, ABB has signed an EPC contract for the
 Videocon project.
 
 - ABB India shareholders are likely to get one equity share of Rs. 
 10 each in Powerco for every share (Rs. 10) held in ABB, and the
 overall restructuring package may prove valuable to them in the long
 term. 
 
 - ABB Holdings (South Asia) Ltd has put in a proposal seeking
 government's approval to buy out Hartmann & Braun's 51 per cent
 equity stake in CG-Elsag Bailey Ltd.
 
 - ABB Holdings is acquiring 20.40 lakh equity shares having a face
 value of Rs 10 per share in CG-Elsag Bailey.
 
 - ABB company will issue and allot one equity share of Powerco of the
 face value of Rs 10 each for every one equity of face value of Rs 10
 each held by the shareholders of ABB.
 
 - ABB acquired a 51 per cent stake in Lenzhom Electric Company, a
 Mumbai based engineering servicing firm.
 
 - The company has initiated a marketing agreement with the
 public-sector Indian Oil Corporation (IOC), according to which, 50
 per cent of the offtake from the refinery would be through IOC, and
 the balance through BPCL.
 
 2000
  
 - The Company launched new 400 kv transformers.
 
 - The Company has announced the introduction of electronic Alpha
 energy meters for better electricity monitoring in India.
 
 - Crisil has assigned a `P1+' rating to the Rs 100-crore commercial
 paper programme of Asea Brown Boveri Ltd.
 
 2001
 
 - The Company a global power company, will et up a research and
 development base in India for developing products catering to the
 domestic and global market.
 
 - ABB decided to consolidate its Indian operations and, as the first
 step, the Swedish conglomerate plans to merge all its Indian
 subsidiaries.
 
 -The board of directors of Asea Brown Boveri Ltd, India (ABB), has
 appointed Mr Ravi Uppal as the Managing Director and Country Manager
 (for India) with effect from mid-October. Mr Uppal will replace Mr
 K.K.Kaura, who has resigned from ABB to pursue other professional
 interests outside the group.
 
 -Asea Brown Boveri Ltd (ABB) has posted a 10.04 per cent increase in
 net profit at Rs 14.72 crore for third quarter ended September 30,
 2001.
 
 2002
 
 - Asea Brown Boveri Ltd has informed the Board of Directors of the
 Company has appointed the following new Directors:
 
 1 Mr Peter Smits (in the casual vacancy caused on the Board by the
 resignation of Mr Sune Karlsson)  2 Mr Dinesh Paliwal 
 3 Mr N S Raghavan
 4 Mr Nasser Munjee
 
 -The Board of Directors of Asea Brown Boveri Ltd at its meeting held
 on July 31, 2002 redeemed 7,50,000 11% Redeemable Preference Shares
 of Rs 100 each along with the pro rata dividend thereon.The
 preference shares had been issued by the company on amalgamation of
 erstwhile ABB Instrumentation Ltd, with the company and were held by
 ABB Holdings South Asia Ltd.
 
 -Asea Brown Boveri Ltd has informed that Mr B Gururaj has been
 appointed as Asst Vice President & Company Secretary of Asea Brown
 Boveri Ltd, in place of Mr A S Khandwala who has resigned from
 services of the company. Board also appointed Mr Gururaj Asst Vice
 President & Company Secretary, as Compliance Officer of the company.
 
 -K N Shenoy to step down as Chairman and member of Board of ABB.
 
 -Asea Brown Boveri Ltd has informed the following changes in the
 Board of Directors .
  Mr Peter Smits, Director was elected as Chairman in place of Mr
 Shenoy. Mr Ravi Uppal, Managing Director is appointed as Vice
 Chairman and designated as Vice Chairman & Managing Director. Mr Eric
 Drewery resigned as a Director of the Company and in his place Mr
 Peter Leupp was appointed as a Director.Mr Boonkiat Sim was appointed
 as an Additional Director on the Board of Directors of the Company.
 
 2003
 
 -ABB has been awarded its single largest export order to date, valued
 at Rs.1680million
 by PUblic Establishment of Electricity for Generation and
 Transmission (PEEGT).
 
 -ABB India has divested its air-handling equipment unit in India to
 Flakt India.
 
 -Mr Ravi Uppal, Vice-Chairman and MD, ABB India and honorary
 Chairperson 
 of the Association of  Indo-Swedish Companies has been conferred the
 honour
 of the Royal Order  of the Polar Star.
 
 -ABB Ltd has tied up with Intel, Microsoft and Accenture to give
 shape to what 
 will be the factory of the future.
 
 -ABB Ltd has been awarded major orders for Aluminium and Zinc
 smelters
 worth around Rs.1100million by  Sterlite Group.
 
 -ABB Ltd has informed that the company has received on December 2,
 2003, a certificate of Registration of the Order of CLB confirming
 transfer of the Registered Office of the Company from the State of
 Maharashtra to the State of Karnataka. Accordingly, the Registered
 Office of the Company has now been shifted from Mumbai, in the State
 of Maharashtra, to Banglore, in the State of Karnataka, and located
 at the following address: ABB Ltd, 2nd Floor, East Wing, Khanija
 Bhavan,49,Race Course Road, Banglore 560 001. Telephones:+91 80
 2250295, 2254543, 2254546 Telefax:+91 80 2281103.
 
 2004
 
 -Dinesh Paliwal appointed as Chairman of ABB India
 
 -ABB India gets Asiamoney award for 2003
 
 - ABB introduces new range of wiring accessories including switches,
 regulators and sockets for Indian market
 
 2005
 
 -ABB has won the first major equipment order for 765 kV extra-high
 voltage (EHV) transformers and shunt reactors from the National
 Thermal Power Corporation (NTPC) and Power Grid Corporation of India
 Ltd (PGCIL)
 
 -ABB wins $ 80 m order from NTPC, PGCIL
 
 -ABB gets orders worth Rs 135 cr from Middle East
 
 2006
 
 -ABB inks MoU with IIT Delhi
 
 -ABB Ltd - Wins an automation order from ONGC worth of Rs.430 crores
 
 
 2007
 
 -ABB India wins Rs 186 crore order for integrated power distribution
 management system.
 
 - ABB Ltd has announced that ABB India has won a Rupees 933 million
 (93.3 crore) order from KHD Humboldt Wedag GmbH, Germany, to provide
 a turnkey electrics and automation solution for a 5000 TPD (tonnes
 per day) capacity green-field cement plant at Katrana in Jordan.
 
 - The Company has splits its face value from Rs10/- to Rs2/-.
 
 -ABB India wins Rs 311 crores power & automation order
 
 -ABB India wins Rs 93 crore order for cement plant in Jordan
 
 -ABB wins power order worth more than 0 million for worlds
 largest offshore wind farm
 
 
 
 2008
 
 -ABB wins substation orders from Powergrid for Rupees 330 crores
 
 -ABB secures Rs 455cr Vedanta contract
 
 -ABB to acquire Kuhlman Electric Corporation from The Carlyle Group 
 
 -ABB wins  million order in U.S. to expand capacity of power
 transmission system
 
 2009
 
 - ABB Ltd has  wins Rs 425 crore substation orders in India.
 
 - ABB, the leading power and automation technology group, has won
 orders wroth Rs 220 crore form Tata Projects Limited to provide power
 products and solutions for a super-critical coal-fired power plant
 under construction in the southern Indian state of Andhra Pradesh.
 
 
 -  ABB has bagged an order worth Rs. 128.30 crore from state-run
 Power Grid Corporation of India (PGCIL) for setting up a 400-kV gas
 insulated switchgear sub-station to strengthen the power transmission
 network in Gujarat.
 
 2010
 
 - ABB Limited has bagged orders worth around Rs 145 crore from the
 Bharathiya Rail Bijlee Company Limited (BRBCL).
 
 -ABB Ltd, the power and automation technology firm, has bagged orders
 worth  million (nearly Rs 100 crore) from Haryana Vidyut Prasaran
 Nigam in order to supply four sub-stations.
 
 -ABB inaugurates global wind power generator factory in India
 
 -ABB India acquires Metsys.
 
 2011
 -ABB bags US0mn power transmission order in China.
 
 - ABB inaugurates new production line for miniature circuit
 breakers.
 
 - ABB bags Rs 16 crore order for solar plants to provide high end
 solution.
 
 - ABB wins Rs. 175 crore substation order in India to improve grid
 reliability.
 
 - ABB Group books Rs. 4000 crores UHVDC power transmission order in
 India.
 
 2012
 - ABB wins Rs.75 crore order in India to power metro for pink city.
 
 - ABB wins Rs. 175 crore order to strengthen Western India's power
 grid.
 
 - ABBs Gary Steel receives lifetime achievement award in HR
 excellence.
Source : Dion Global Solutions Limited
Quick Links for ABB
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.