The Swedish-Swiss concern "ABB Ltd.", one of the world's largest manufacturers of electrical equipment and robotics, has received permission to sell its Russian division. According to the decree of the President of Russia, 100% of the shares of LLC "ABB" (ABB Asea Brown Boveri Ltd. — 99% and ABB Verwaltungs AG — 1%) will be transferred to JSC "Concept-Invest". Along with this, the buyer will acquire 1% each in the "ABB" subsidiaries — the Kaliningrad LLC "RUOPC" (ABB Operational Center) and the Lipetsk LLC "RUAE" (ABB Electrical Equipment).
The decision to withdraw the concern from Russia was announced back in 2022. The company explained this by difficulties in logistics and changes in international politics. However, the legal оформление of the transaction took almost two years. The financial indicators of the Russian division of ABB concern sharply decreased: if in 2021 revenue amounted to 23 billion rubles, then by 2024 it fell to 24 million rubles.
ABB Ltd. was engaged in industrial automation, energy-efficient solutions and robotics. The deal to sell the concern's assets in Russia is part of a general trend when international companies are reviewing their presence in Russia. However, the departure of global players opens up opportunities for local manufacturers, especially in the field of automation and energy.
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