ABB completes divestment of Power Grids to Hitachi
(WorldNews Switzerland)

Hitachi ABB Power Grids joint venture starts operations ABB`s portfolio focused on industrial customers Net cash proceeds to be returned to shareholders as planned ABB today reached a significant milestone in the company`s transformation towards a decentralized global technology company, with the completion of the divestment of 80.1 percent of its Power Grids business to Hitachi, as planned. The divestment allows ABB to focus on key market trends and customer needs such as the electrification of transport and industry, automated manufacturing, digital solutions and increased sustainable productivity. `Today`s announcement marks an important turning point in the history of ABB. Since...