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ABB acquires majority interest in Polish power grid construction company

Zurich, Switzerland, January 27, 1997 - ABB, the international electrical engineering company, has signed an agreement to purchase a controlling interest in PBE ELBUD Krakow (Energy Construction Enterprise ELBUD Krakow), a company active in the construction and repair of power lines and substations for the Polish national power grid. ABB is to purchase 60 percent of the company from various Polish National Investment Funds. The company is based in Krakow and employs 500 people. The purchase agreement is subject to regulatory approval.

PBE ELBUD was established 50 years ago and has played an important role in the development of Poland's energy sector and the maintenance of the national power grid. The company specializes in the construction, upgrading and repair of medium- and high-voltage substations and high-voltage power lines.

The company, to be called ABB ELBUD Ltd, will gain by sharing in ABB's latest technology in this field, supported by extensive know-how training and the establishment of a specialized substation engineering center. It will significantly complement the activities of the Group's other companies in Poland, enabling ABB to deliver advanced products and total system solutions to its local customers.

ABB ELBUD Ltd will be part of ABB's global Power Transmission and Distribution segment, which employs nearly 47,000 people worldwide with orders in 1995 of nearly US$ 9 billion.

In Poland, ABB employs over 6,000 people in 12 companies with orders in 1995 of approximately US$ 450 million. The ABB Group employs approximately 217,000 people with orders in 1995 of over US$ 36 billion. (End)

For more information contact Mr. John Fox
ABB Corporate Communications, Zurich Tel. +41 1 317 7371 Fax. +41 1 317 7958

Ms. Beata Kopczynska
Country Communications Manager, Poland Tel: + 48 22 60 80 724 Fax: + 48 22 822 7346

Original Press Release at ABB.com
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