ABB concludes settlements for Kusile project

December 03, 2022

Settlement of $327 million already announced and accounted for in the third quarter 2022 financial statements. ABB hopes to reach a final resolution with German authorities in the near term. They were already accounted for in ABB’s third quarter 2022 financial results and include the expected exposure to the German case. The corresponding negative cash flow impact is expected to be split with approximately three quarters in the fourth quarter 2022 with the remainder in the first quarter 2023. ABB CEO Björn Rosengren: “We take the Kusile matter very seriously.

The source of this news is from ABB

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