ABB ANNOUNCES $31 MILLION PROJECT TO DISMANTLE ICBMs IN KAZAKSTAN.NORWALK, Conn.--(BUSINESS WIRE)--Feb. 20, 1996--ABB Inc. announced today one of its units is part of a joint venture awarded a historic $31 million contract to demolish the former Soviet Strategic Rocket Force's Intercontinental Ballistic Missile intercontinental ballistic missile: see guided missile. (ICBM ICBM: see guided missile. ICBM in full intercontinental ballistic missile Land-based, nuclear-armed ballistic missile with a range of more than 3,500 mi (5,600 km). Only the U.S. ) silos in the Republic of Kazakstan. The three-year contract was awarded to the 50/50 joint venture, comprised of ABB SUSA Inc. and Brown & Root, a subsidiary of Halliburton Company, by the U.S. Defense Nuclear Agency (DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. ). The project is funded under the Strategic Offensive Arms Elimination (SOAE) program , which is part of the Cooperative Threat Reduction (CTR) program. CTR assistance to Kazakstan, Russia, Ukraine and Belarus helps these countries dismantle nuclear weapons systems and deal with related problems. SOAE assistance helps Kazakstan meet the terms of the Strategic Arms Reduction Treaty (START I) to eliminate SS-18 ICBM silos and launch control facilities. With the nuclear missiles already returned to Russia, the joint venture will eliminate 148 launch, control, testing and training silos at four Kazakstan missile fields; Zhangis-Tobe, Derzhavinsk, Balapan and Leninsk. The project scope includes eliminating the ICBM silos and launch control complexes, salvage and disposal of all equipment and materials, environmental cleanup, and site restoration to civilian use. The joint venture will work closely with all U.S. agencies and cooperate with the government of Kazakstan. Brown & Root, Inc., a subsidiary of Halliburton Company (NYSE NYSE See: New York Stock Exchange :HAL), is a global engineering, construction and services company with 40,000 employees and annual revenues of $3 billion. ABB SUSA, headquartered in North Brunswick, New Jersey, is a unit of ABB (Asea Brown Boveri) Inc., which is based in Norwalk, Conn., and engineers products and services for power generation, transmission and distribution; industrial processes; and transportation. The company and its subsidiaries have sales of approximately $5.6 billion. Their parent, ABB Asea Brown Boveri ABB, formerly Asea Brown Boveri, is a multinational corporation headquartered in Zürich, Switzerland, operating mainly in the power and automation technology areas. ABB is one of the largest engineering companies as well as one of the largest conglomerate companies in the Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASEAY and OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BBCBY), employs approximately 210,000 people and had orders in 1994 of $32 billion. CONTACT: Karen Armour, 203-750-2217 (office) or 203-655-9461 (residence) |
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