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ABB LTD (ABB)
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ABB Wins $35 Million Order For Icebreaker in Russia's Arctic

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10/01/2012 | 11:25am CEST

ZURICH--ABB Ltd (ABBN.VX) Monday said it won an order worth $35 million from the Baltic Shipyard Ltd. to supply powerful propulsion and energy efficient electrical systems for a new icebreaker vessel under construction for Russia's state shipping company Rosmorport.

MAIN FACTS:

- The order was booked in the third quarter of 2012.

- The 25 megawatt line diesel-electric icebreaker is the next-generation multifunctional diesel-electric icebreaker.

- The navigation area of the icebreaker is the Northern Sea Route, the Arctic seas and estuaries of rivers discharging into the Arctic Ocean.

- The icebreaker is able to proceed continuously both ahead and astern at the speed of 2 knots in compact ice field up to 2 metres thick with 20cm of snow cover and temperatures as low as minus 35 degrees Celsius.

- Considerable gains in energy efficiency can be achieved using an Azipod® propulsion system, with up to 20 percent fuel reduction.

- The delivery schedule is due to start in 2013 and the vessel will be delivered to Rosmorport in 2015.

-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47; [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD -0.60% 23.36 Delayed Quote.-10.57%
ABB LTD -0.24% 206.5 Delayed Quote.-6.26%
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Financials ($)
Sales 2018 37 975 M
EBIT 2018 4 446 M
Net income 2018 2 785 M
Debt 2018 3 812 M
Yield 2018 3,48%
P/E ratio 2018 18,49
P/E ratio 2019 16,06
EV / Sales 2018 1,45x
EV / Sales 2019 1,32x
Capitalization 51 087 M
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Number of Analysts 24
Average target price 26,9 $
Spread / Average Target 14%
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NameTitle
Ulrich Spiesshofer President & Chief Executive Officer
Peter R. Voser Chairman
Timo J. Ihamuotila Chief Financial Officer
Jacob Wallenberg Vice Chairman
Matti Juhani Alahuhta Independent Non-Executive Director
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