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Paul Willi at the meantime, rest assured that ABB remains committed to continuing our strong relationship with all customers, partners and suppliers.Abb power grids czech republic s.r.o novodvorska is A Other Supplier. If you have any questions, please contact directly Mr.
We trust that the above clarifies the reorganization of ABB Power Grids Business.
#Abb power grids czech republic s.r.o. update
Specifically, for all business with the Product Group Semiconductors in Lenzburg, Switzerland, effective as of November 1, 2019, please update your records as follows: Specifically, for all business with the Product Group Semiconductors in Prague, Czech Republic, effective as of October 1, 2019, please update your records as follows: Nothing will change for our customers, partners or suppliers from a business or service point of view. These transfers will not change any of the agreed upon terms and conditions of the existing agreement and will ensure a smooth continuity of our business relationship. ABB Power Grids Czech Republic s.r.o., Průmyslová 137, Dolní Staré Město, 541 01 Trutnov ABB Power Grids Switzerland Ltd., BruggerstraBaden (CHE-424.543.670) By mid-2020, 80.1% of the Company will be transferred to Hitachi, and ABB has agreed not to divest its remaining 19.9% stake for at least three years after closing of the Transaction.Īs part of the Reorganization, ABB will need to transfer all customer agreements of the Power Grids Business to the relevant new ABB Power Grids Company.Īccordingly, all the customer agreements relating to the Power Grids Business conducted out of ABB Switzerland Ltd. The Transaction is expected to be completed by the first half of 2020 and is still subject to regulatory approvals. The future Power Grids Business will locally be organized into new legal entities (“ ABB Power Grids Companies”), which will themselves be owned by a holding company incorporated under the laws of each country (the “ Company”) (the “ Reorganization”). ABB is a pioneering technology leader that works closely with utility, industry. In Hitachi ABB has found a strong long-term partner for this unique and well-timed opportunity to strengthen the Power Grids Business as the partner of choice for a stronger, smarter and greener grid.Īs ABB creates the global joint venture and commits to business and service continuity, it is also needed to adapt the legal structure. The joint venture will include the global Power Grids business of the ABB Group, including power grid automation, power grid integration, high voltage products and transformers (the “ Power Grids Business”), as well as the corresponding service offerings. As explained in our announcement of December 17, 2018, ABB has taken the strategic step to expand their existing relationship with Hitachi by forming a power grids joint venture (the “ Transaction”).
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