ABB » Topics » Building Systems business in Germany

This excerpt taken from the ABB 20-F filed Mar 10, 2009.

Building Systems business in Germany

        In April 2007, the Company completed the sale of its Building Systems business in Germany to the WISAG Group. This business was part of the Company's Corporate and Other division prior to being reclassified to discontinued operations. The business had revenues of $47 million and $286 million for the years ended December 31, 2007 and 2006, respectively. Losses for 2007 and 2006 were $2 million

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Table of Contents


ABB Ltd

Notes to the Consolidated Financial Statements (Continued)

(U.S. dollar amounts in millions, except per share amounts)

Note 3—Acquisitions, divestments and discontinued operations (Continued)


and $65 million, respectively, recorded in income (loss) from discontinued operations, net of tax. Of the loss reported for 2006, $67 million was an impairment charge based upon the proceeds which were expected from the sale of the business.

This excerpt taken from the ABB 20-F filed Mar 19, 2008.

Building Systems business in Germany

        In April 2007, the Company completed the sale of its Building Systems business in Germany. This business was part of Non-core and Other prior to being reclassified to discontinued operations. The purchaser of this business was the WISAG Group, located in Germany. The business had revenues of $286 million and $354 million for the years ended December 31, 2006, and 2005, respectively. Losses for 2006 and 2005 were $65 million and $20 million, respectively, recorded in income (loss) from discontinued operations, net of tax. Of the loss reported for 2006, $67 million was an impairment charge based upon the proceeds which were expected from the sale of the business. Up to the

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Note 3 Acquisitions, divestments and discontinued operations (Continued)

divestment date in 2007, the business had revenues of $47 million and a loss of $2 million, recorded in income (loss) from discontinued operations, net of tax.

EXCERPTS ON THIS PAGE:

20-F
Mar 10, 2009
20-F
Mar 19, 2008
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