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Patrick Appenzeller
 
Breaking News

ABB names ex-McKinsey consultant CEO

ABB at the weekend named 44-year-old Fred Kindle, top executive of smaller engineer Sulzer, its new CEO, disappointing some investors who expected a higher-profile manager.
 
 
Breaking News

ABB to raise almost $4-billion

ABB unveiled a radical recapitalisation plan yesterday designed to raise almost $4-billion, nearly doubling its share base and putting the indebted engineering group on a sound financial footing through 2006.
 
 
Breaking News

ABB in sale talks on Moroccan power plant

ABB is in talks on the sale of its 50% stake in Morocco's Jorf Lasfar power plant as the engineer seeks to cut debt, it said yesterday, in a deal valued by analysts at up to $500-million.
 
 
Breaking News

ABB set to raise fresh cash as shares climb

Indebted engineering firm ABB may take advantage of the near doubling of its share price in the last month and raise fresh cash soon in the form of a convertible bond issue, market sources said at the weekend.
 
 
Breaking News

Prospect of US power-grid order buoys ABB

Shares of ABB climbed last week on growing hopes that the Swiss engineering company may win large contracts to improve the US power grid after blackouts last week exposed the system's frailty.
 
 
Breaking News

US court backs ABB deal subject to more detail

ABB shares were volatile yesterday after a US court mostly approved a key asbestos settlement, paving the way for an asset sale needed to cut the firm's debt, but left some unresolved loose ends.
 
 
Breaking News

ABB says asbestos delay will not hit unit sale

Indebted engineering firm ABB yesterday denied a delay in its proposed $1,2-billion settlement of asbestos claims would impact the sale of a key unit and possibly trigger a cash call, helping shares higher.
 
 
 
 
 
 
 
 
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