ABB Asea Brown Boveri, was the result of a merger between Asea AB of Sweden and BBC Brown Boveri Ltd. of Baden, Switzerland in 1988. The merged entity became the world’s leading supplier in the $50 billion electric power industry. At that time ABB controlled as much as a third of Europe’s business and more than 20 percent of the world market. It successfully integrated 850 subsidiary companies and 180,000 employees operating in 140 countries.
When ABB was formed its two parent companies retained their separate names, boards and stock listings. In 1996 ASEA AB in Sweden and BBC Brown Boveri AG in Switzerland decided to change their names to "ABB AB" and "ABB AG," respectively.
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