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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  ABB Ltd    ABBN   CH0012221716

ABB LTD

(ABBN)
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ABB : Signs Contract With Keppel Offshore & Marine

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10/21/2019 | 05:40am EST

By Kim Richters

ABB said Monday that it has signed a contract with the offshore and marine division of Keppel Corp. (BN4.SG) to develop technology for autonomous vessel operations.

The Swiss engineering company said it will jointly work on autonomous vessels and specifically a tugboat--used to push or tow other vessels in harbor areas--with a technology arm of Keppel Offshore & Marine.

The project will be tested in the port of Singapore and is expected to kick off autonomous vessel operations there at the end of 2020, the company said.

"The intent of our technology is not to entirely remove the crew, but rather to relieve the crew from the tasks than can be automated and thus enable them to perform at their best during critical operations," said Juha Koskela, managing director of ABB Marine & Ports.

The company didn't comment on the financial details of the contract.

Write to Kim Richters at kim.richters@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD -0.23% 21.5 Delayed Quote.15.27%
KEPPEL CORPORATION LIMITED -0.87% 6.86 End-of-day quote.15.68%
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Financials (USD)
Sales 2019 28 325 M
EBIT 2019 1 734 M
Net income 2019 1 284 M
Debt 2019 5 883 M
Yield 2019 3,76%
P/E ratio 2019 36,1x
P/E ratio 2020 14,1x
EV / Sales2019 1,84x
EV / Sales2020 1,73x
Capitalization 46 127 M
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Mean consensus HOLD
Number of Analysts 18
Average target price 21,49  $
Last Close Price 21,63  $
Spread / Highest target 21,4%
Spread / Average Target -0,63%
Spread / Lowest Target -20,6%
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NameTitle
Peter R. Voser Chairman & Chief Executive Officer
Björn Klas Otto Rosengren Chief Executive Officer-Designate
Timo J. Ihamuotila Chief Financial Officer
Jacob Wallenberg Vice Chairman
Matti Juhani Alahuhta Independent Non-Executive Director
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