ABB Intends to Spin Off Its Turbocharging Business
ABB announced its intention to spin off Accelleron (formerly ABB Turbocharging) turbocharging division, by way of a dividend in kind of Accelleron Industries Ltd’s shares to ABB’s shareholders. Accelleron’s listing on SIX Swiss Exchange in Zurich is planned for October 3, 2022, and is subject to, among others, approval by ABB’s shareholders at an Extraordinary General Meeting scheduled for September 7, 2022.“After careful consideration involving a dual-track process, we have concluded that spinning off Accelleron is the best way forward – for Accelleron itself and for ABB’s shareholders…
Wärtsilä Expects 5% Sales Growth
Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. Wärtsilä estimates its profitability for 2014 (EBIT% before non-recurring items) to be 11.5-12%. Previously profitability was expected to be around 11.5%. Wärtsilä reiterated that its expectation that net sales will grow by around 5%. Bjӧrn Rosengren, president and CEO, said, "The third quarter was characterized by the strong development in order intake. In the power generation markets customers are gradually beginning to commit to investments. The improved activity levels especially for smaller orders, combined with the 139 MW order we received from Mexico and the 112 MW order from North Dakota, resulted in a 47% increase in Power Plants' order intake.
