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ABB to exit three divisions with revenues of $1.75 billion

ABB to exit three divisions with revenues of $1.75 billion

November 19, 2020

ZURICH (Reuters) – ABB <ABBN.S> plans to offload three business units that generate $1.75 billion in sales, the Swiss engineering company said on Thursday, equivalent to 6% of its annual revenue.

The company said it was “exploring all options” to exit turbocharging, mechanical power and power conversion, the company said ahead of its first investor day under Chief Executive Bjorn Rosengren.

(Reporting by John Revill, editing by Silke Koltrowitz)

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