ABB to spin off its Accelleron turbocharging business

July 21, 2022

ABB’s shareholders will be able to realize the full value of Accelleron, while ABB continues to simplify its portfolio and focus on the megatrends of electrification and automation. Björn Rosengren, Chief Executive Officer of ABB, commented: “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. Accelleron develops, produces and services turbochargers and large turbocharging components for engines, which enhance propulsion and increase fuel efficiency while reducing emissions. The designated Board of Directors of Accelleron will be chaired by Oliver Riemenschneider, who contributes over 35 years industry experience and has previously served as CEO of ABB Turbocharging since 2011. Neither ABB Ltd nor Accelleron Industries Ltd intends to register any securities referred to herein in the U.S.

The source of this news is from ABB

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