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ABB - Abb News Story

$32.08 0.5  1.6%

Last Trade - 09/04/21

Sector
Industrials
Size
Large Cap
Market Cap £47.31bn
Enterprise Value £47.86bn
Revenue £19.06bn
Position in Universe 189th / 6827

ABB looking at spinning off turbocharging business this year - CEO

Thu 4th February, 2021 8:36am
ZURICH, Feb 4 (Reuters) - ABB  ABBN.S  is considering
spinning off its turbocharging division as it exits the business
probably towards the end of 2021, Chief Executive Bjorn
Rosengren said on Thursday.
    The business generates around 75% of its sales form
services, which made it very resilient, Rosengren told
reporters. "We believe its strong enough to stand on its own two
legs," he added.
    

 (Reporting by John Revill; Editing by Michael Shields)
 ((John.Revill@thomsonreuters.com; +41 58306 7022; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))
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