Printer Friendly

ABB TO DIVEST ITS U.S. WASTE-TO-ENERGY BUSINESS

 STAMFORD, Conn., Nov. 20 ~PRNewswire~ -- Asea Brown Boveri Inc. (ABB) said today that it has reached an agreement in principle with Ogden Corporation (Ogden) (NYSE: OG) and Ogden Projects, Inc. (NYSE: OPI), its 85 percent-owned subsidiary, for OPI to acquire ABB's U.S. waste-to-energy business. The transaction is expected to be completed in late 1992, subject to obtaining certain approvals and the satisfaction of mutually established conditions.
 Upon completion of the transaction, OPI will acquire ABB Resource Recovery Systems' rights in three waste-to-energy facilities and assume its contractual and financial obligations to operate them. ABB's current operations include a 3,300 ton-per-day facility in Detroit, a 2,160 ton-per-day facility in Honolulu, and a 2,000 ton-per-day facility in Hartford, Conn. Asea Brown Boveri Inc., headquartered in Stamford, provides products and services for the power, process, industrial automation, environmental control, mass transit and other markets. The company and its subsidiaries have sales of approximately $5.5 billion and some 29,000 employees in the United States.
 -0- 11~20~92
 ~CONTACT: Karen Armour of Asea Brown Boveri Inc., 203-328-2217, or at home: 203-655-9461~
 (OG)


CO: Asea Brown Boveri Inc. ST: Connecticut IN: SU:

TS -- NY013 -- 3258 11~20~92 09:38 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 20, 1992
Words:202
Previous Article:GENERAL SIGNAL ANNOUNCES MANAGEMENT REALIGNMENT AT GCA
Next Article:SHAW INDUSTRIES, INC. FILES FOR OFFERING OF COMMON STOCK
Topics:


Related Articles
ROBERT E. DONOVAN NAMED PRESIDENT OF ABB'S POWER PLANT SYSTEMS BUSINESS
ABB ASEA BROWN BOVERI GROUP REPORTS ORDER INTAKE UP 18 PERCENT -- SUMMARY OF THE SIX-MONTH REPORT 1992
WEST COAST'S FIRST HOSPITAL MICROWAVE UNIT TO DISINFECT MEDICAL WASTE INSTALLED AT UCI MEDICAL CENTER
ABB and Alstom Create World Leader in Power Generation.
Former Reagan Nuclear Chief and ABB Combustion Engineering CEO Joins Commodore Applied Technologies, Inc.
Ken Scarola Appointed Vice President, Products and Technology, Westinghouse Nuclear Automation.
New start for ABB? The end of the hard times seems in sight for Swiss-Swedish engineering technology group, ABB, says the company's chairman and...
Management buyout of ABB mass spectrometer business.
ABB to sell Lummus for pounds 477m; ENGINEERING.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters