ABB Ltd. is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland.[5] The company 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 the initials ABB. Both companies were established in the late 1800s and were major electrical equipment manufacturers, a business that ABB remains active in today. The company has also since expanded to robotics and automation technology.
It is ranked 341st in the Fortune Global 500 list of 2018 and has been a global Fortune 500 company for 24 years.[6] Until the sale of its Power Grids division in 2020, ABB was Switzerland’s largest industrial employer.[7]
ABB is traded on the SIX Swiss Exchange in Zürich, Nasdaq Stockholm in Sweden, and the New York Stock Exchange in the United States.[8]
An ABB entity plead guilty for bid rigging in 2001, and the company has had 3 US Foreign Corrupt Practices Act bribing resolutions against it – in 2004, 2010, and 2022.[9]