ABB delays results

7 January 2003 - Swiss Engineering group ABB said yesterday it would be delaying the announcement of its annual results by 15 days.

The company has had a difficult 2002 with significant losses emerging from asbestos liabilities arising from its Combustion Engineering subsidiary and has undergone a major debt refinancing and reorganisation.

Preliminary results will now be released on 27 February with the delay being out down to a need to resolve "planning issues". ABB reported record losses last year and appointed Jürgan Dormann as CEO in addition to his role as chairman. The company added that it needed extra time in order to prepare its results carefully, following a series of restructurings.

Sponsored by FLSmidth

Related Articles

Poised for Growth

One year ago, California adopted the nation's first energy storage mandate for investor-owned utilities. The new mandate is accelerating the development of emerging storage technologies. Power Engineering examines the market for grid-scale energy storage in North America.

Report: U.S. able to connect large amounts of offshore wind to U.S. grid

The Energy Department (DOE), in partnership with ABB (NYSE: ABB), the National Renewable Energy Laboratory (NREL), Duke Energy (NYSE: DUK), and the University of Pittsburgh released a report that considers the availability and potential impacts of interconnecting large amounts of offshore wind energy into the U.S. power grid.

Follow Power Engineering on Twitter
Latest News

Dominion Virginia Power shelves plans for offshore wind project

Dominion Virginia Power, a subsidiary of Dominion (NYSE: D), put plans to build an offshore w...

Coal ash recycling company successfully repurposes pond ash

The SEFA Group Inc. recently opened a stand-alone Staged Turbulent Air Reactor (STAR) facilit...

Hawaii energy park, Sandia National Laboratories to test energy storage

The Natural Energy Laboratory of Hawaii Authority (NELHA) has secured a deal with New Mexico-...

E.ON, GE wind farm reaches operation in Texas

E.ON and GE's (NYSE: GE) Energy Financial Services celebrated the opening of the Grandview Wi...

Feds move to speed approval for Great Plains wind projects

Federal officials are moving to speed up their review of wind power projects across the Upper...

Sempra U.S. Gas & Power acquires Minnesota wind project

Sempra U.S. Gas & Power has acquired the 78-MW Black Oak Getty wind project — in Stearns ...

Mississippi Power to build largest utility-scale solar projects in the state

Mississippi Power, a subsidiary of Southern Company (NYSE: SO), is partnering with two solar ...

Another measure to block advance of NC renewables law falls

North Carolina electric companies must keep planning to generate more power through alternati...

Power Engineering Current Issue

01/01/2015
Volume 119, Issue 1
1501pe-cover-lg
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Buyers Guide Company Listings

Power Industry Wire News

Rockdale Resources Enters Into Letter of Intent to Acquire Working Interest in a Historical Oklahoma Oil Field

Rockdale Resources Enters Into Letter of Intent to Acquire Working Interest in a Histor...

Scorpio Tankers Inc. Announces Newbuilding Vessel Deliveries and Reminder for Upcoming Conference Call

Scorpio Tankers Inc. Announces Newbuilding Vessel Deliveries and Reminder for Upcoming ...

Falcon Crest Energy Searching for Opportunities Outside Oil and Gas Sector

Falcon Crest Energy Searching for Opportunities Outside Oil and Gas Sector

West Texas Resources, Inc. Announces Appointment of Paul Brogan to Board of Directors

West Texas Resources, Inc. Announces Appointment of Paul Brogan to Board of Directors

Younicos Commends U.S. Department of Energy Call for Energy Storage to Be Part of National Electricity Grid Infrastructure Improvements

Younicos Commends U.S. Department of Energy Call for Energy Storage to Be Part of Natio...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>