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History of ABB Ltd.

1949

- The Comp. was Incorporated on 24th December, at Mumbai. The main objects of Comp. is to manufacture transformers, electric motors, all-aluminium conductors, furnaces, extra H.T. airblast circuit breakers, panels & switchboards.

- Asea Brown Boveri [ABBs], established a subsidiary of the Swedish-Swiss ABB Asea Brown Boveri. The ABB group, comprising about 1000 companies, has operations in 140 countries & is involved in power generation, transmission & distribution [T&Ds], industrial equipments & systems, & 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 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 Comp. 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 7th year in four annual instalments commencing from 1989.

- The Comp. 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 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 Comp. allotted to each of UTI & 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. 1:4s]. 5,000 No. of equity shares were offered to employees [prem. Rs 60 per shares]. Another 2,500 No. of equity shares were offered to BBC Brown Baveri and 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 Comp. set up 'Integra Hindustan Control Ltd.' for the manufacture of relay & signalling equipment for Railways using technology of Integra Ltd., Zurich, Switzerland. This project was set up at Halol in Panchmahan district of Gujarat State.

- The Comp. jointly with Pradeshiya Industrial & Investment Corporation of U.P. Ltd., promoted a Comp. under the name of National Switchgears Ltd.

- The joint venture Comp. set up a project for 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 Comp. entered into collaboration with Danish Windpower A/s, Denmark for manufacture of wind energy conversion systems.

1988

- The Electronics division was commissioned power line carrier communication equipment for HVDC line developed by Andhra Pradesh Electricity Board.

- Consequent to the merger of Asea [renamed ABBs], Sweden, & BBC Brown Boveri [renamed ABBs], 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 shares].

1989

- The first back-to-back high voltage direct current transmission link for NTPC at Vindhyachal, connecting the Northern & Western regional power grids was commissioned in August.

- Asea limited [ASLs], was amalgamated with Hindustan Brown Boveri Ltd. [HBBLs], with effect from 1st January. Pursuant to the Scheme of Amalgamation HBBL were to issue & 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 Comp. was changed from Hindustan Brown Boveri limited 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 Comp. 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 ups]. Additional 7,39,544 shares were allotted to retain oversubscription.

- The parent Comp. 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 Comp. 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 & allotment of rights shares, additional shares & shares to employees.

1994

- The Comp. offered to take a majority stake in a BIFR registered boiler manufacturing Comp. in India that would enable the Comp. to provide full range of equipment & turnkey services for building power plants in the country. The Comp. made an entry into low voltage switchgear business.

- A joint venture Comp. namely `ABB Daimler-Benz Transportation AG' [AD Tranzs] was established by ABB Zurich & Daimler-Benz AG, Germany in Germany.

- A subsidiary of AD Transz was incorporated in India viz., `ABB Daimler-Benz Transportation [Indias] Ltd.' which took over the Transportation business of Comp. effective 1st January, 1996.

- Another group Comp. - 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 Comp. set up a new factory at Mysore in Karnataka State for the manufacture of various electronics products including EPABX exchanges.

- Amalgamation of Flakt India Ltd., with Asea Brown Boveri limited with effect from 5th October. Pursuant to the scheme of amalgamation, Flakt India limited were to issue 36,88,196 No. of equity shares of Rs 10 each at par of Comp. credited as fully paid up in the proportion 1:2.

1995

- The Comp. was awarded the engineering procurement construction [EPCs] job for Integrated steel project.

1996

- All the Gas Turbines of combined cycle power plant for GVK Industries limited were commissioned. The entire undertaking relating to the Transportation business was transferred as a going concern to ABB Daimler-Benz Transportation [Indias] Ltd.

- GVK 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 & Distribution segment introduced new products like 72.5 KV switchgears for U.S. market & indigenous static relays. Major substation commissioned during the year include 220 KV switchyard for Andhra Pradesh State Electricity Board & 145 KV switchyard for Bhushan Steel Ltd.

- A process control system for petrochemical complex of Reliance Industries limited at Hazira was commissioned.

- The Comp. 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 Comp. from C K Birla group, while the other company has become its fully-owned subsidiary.

- ABB has taken stakes in the following projects. 1s] Neyveli Power project in Tamil Nadu [250 MWs] developed by CMS generations 2s] Jegurupadu power project in AP [235 MWs] developed by GVK industries [five percent stakes] 3s] Pench power project in MP [500 MWs] developed by Soris funds [20 percent stakes].

- 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 Board of Industrial & 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 limited already set up a 100 per cent subsidiary in the country. This Comp. would act as a holding company and consolidate the shareholding of ABB Switzerland & its overseas subsidiaries held in different Indian companies.

- ABB has recently set up a greenfield turbine & generator facilities in Baroda. The plant has an annual capacity of 1500 MW [15 x 100 MW or 3 x 500 MWs] 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 industriess] & direct torque control technology [for variable speed drivess].

- ABB has a joint venture - ABB Alfa Stal Refrigeration - with Alfa Laval for food & non-food refrigeration systems.

- Industry & building systems is being expanded. An engineering centre for petrochemical processing & a software centre for development of automation & control systems are proposed to be set up. The Comp. 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 contract with Mahindra and Mahindra involves upgradation of the latter manufacturing facility at Andhra Pradesh.

- The power purchase agreement [PPAs] for 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 [CIIs] & Asea Brown Boveri [ABBs] have signed a MoU for setting up a total quality management institute. It will provide a range of education & training programmes on quality aimed at industry, service institutions, educational bodies & 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 Daewoo project.

- Asea Brown Boveri Limited [ABBs] 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 & Huta Katowice, & ABB Service Ltd, a 65:35 joint venture between ABB & Dolnoslaska Spolka Inwestychjna [DSIs] is owned by KGHM Polish Copper.

- ABB Oil & Gas Europe BV [Lummuss] of Netherlands, part of the Zurich-based $35-billion Asea Brown Boveri group, intends to set up a wholly-owned subsidiary in India to cater to the petrochemicals/chemicals & other core sector industries in India.

1998

- Electrical engineering giant Asea Brown Boveri [ABBs] 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 limited from present 51 per cent & will approach the Foreign Investment Promotion Board [FIPBs] for bringing in the foreign investment.

- Universal-ABB Power Cables, a joint venture between MP Birla group and ABB set up to manufacture high & extra high voltage [EHVs] XLPE power cables has inaugurated its plant at Satna, Madhya Pradesh. The plant incorporates advanced & fully automated cable manufacturing technology.

- Universal ABB Power Cables Ltd, a joint venture between the MP Birla group & ABB, has commissioned its new plant to manufacture high and extra high voltage [EHVs] 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 [VCVs] 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 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., [APIs] USA.

- ABB-AAPL Projects [AAPLs] will be merged with the Swedish electrical giant to dovetail its Indian operations & carry forward ABB overall restructuring plan adopted at Zurich in August.

- The Comp. offered a two-stage voluntary retirement scheme [VRSs] which reduced manpower from 5,600 to around 3,500.

- Public Sector National Thermal Power Corporation [NTPCs] signed a memorandum of understanding with the Swedish conglomerate ABB for the formation of joint venture for its renovation & modernisation programmes to be carried out both within & 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. 10s] held in ABB, & the overall restructuring package may prove valuable to them in the long term.

- ABB Holdings [South Asias] Ltd has put in a proposal seeking government approval to buy out Hartmann and Braun 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 Comp. will issue & 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 shareholders of ABB.

- ABB acquired a 51 per cent stake in Lenzhom Electric Company, a Mumbai based engineering servicing firm.

- The Comp. has initiated a marketing agreement with the public-sector Indian Oil Corporation [IOCs], according to which, 50 per cent of offtake from the refinery would be through IOC, & the balance through BPCL.

2000

- The Comp. launched new 400 kv transformers.

- The Comp. 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 Comp. a global power company, will et up a research and development base in India for developing products catering to the domestic & 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 [ABBs], has appointed Mr Ravi Uppal as the Managing Director & Country Manager [for Indias] 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 [ABBs] 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 Karlssons] 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 Comp. on amalgamation of erstwhile ABB Instrumentation Ltd, with the Comp. & 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 and Comp. Secretary of Asea Brown Boveri Ltd, in place of Mr A S Khandwala who has resigned from services of company. Board also appointed Mr Gururaj Asst Vice President and Comp. Secretary, as Compliance Officer of company.

-K N Shenoy to step down as Chairman & 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 & designated as Vice Chairman and Managing Director. Mr Eric Drewery resigned as a Director of Comp. & 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 Company.

2003

-ABB has been awarded its single largest export order to date, valued at Rs.1680million by PUblic Establishment of Electricity for Generation & Transmission [PEEGTs].

-ABB India has divested its air-handling equipment unit in India to Flakt India.

-Mr Ravi Uppal, Vice-Chairman & MD, ABB India & honorary Chairperson of the Association of Indo-Swedish Companies has been conferred the honour of the Royal Order of Polar Star.

-ABB Ltd has tied up with Intel, Microsoft & Accenture to give shape to what will be the factory of future.

-ABB Ltd has been awarded major orders for Aluminium & Zinc smelters worth around Rs.1100million by Sterlite Group.

-ABB Ltd has informed that the Comp. has received on December 2, 2003, a certificate of Registration of Order of CLB confirming transfer of Registered Office of Comp. from the State of Maharashtra to the State of Karnataka. Accordingly, the Registered Office of Comp. has now been shifted from Mumbai, in the State of Maharashtra, to Banglore, in the State of Karnataka, & 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 & sockets for Indian market

2005

-ABB has won the first major equipment order for 765 kV extra-high voltage [EHVs] transformers & shunt reactors from the National Thermal Power Corporation [NTPCs] & Power Grid Corporation of India Ltd [PGCILs]

2006

-ABB inks MoU with IIT Delhi

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 crores] order from KHD Humboldt Wedag GmbH, Germany, to provide a turnkey electrics & automation solution for a 5000 TPD [tonnes per days] capacity green-field cement plant at Katrana in Jordan.

- The Comp. has splits its face value from Rs10/- to Rs2/-.