Acquisition

ABB Ltd
23 August 2001


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      ABB buys Mexican drilling and production equipment company

Acquisition will be integrated into oil, gas and petrochemicals division 

Zurich, Switzerland, August 23, 2001 - ABB, the global technology group, today
announced it has acquired FIP S.A., a leading supplier of pressure containing 
equipment for oil and gas production in Mexico.

Based in Mexico City and employing about 450 people, FIP S.A. supplies wellheads
and gate valves used in oil and gas wells to customers around the world. ABB
intends to market FIP products and services worldwide.

'The acquisition will broaden ABB's product range as well as open new markets
for ABB products in the growing Mexican oil and gas market,' said Gorm 
Gundersen, head of ABB's oil, gas and petrochemicals division. According to
experts, Mexico's oil and gas reserves are the fifth largest in the world.

ABB is acquiring FIP S.A. from Walworth de Mexico S.A. The terms of the purchase
were not disclosed.

'Part of our expansion strategy is to build up our presence in sectors with
superior growth potential, where we can bundle products and services from other
parts of our business,' Gundersen said. 'This acquisition fits well with that
approach. It is a solid company, with sound technology, which gives us a
foothold in an important growth market.'

ABB (www.abb.com) serves manufacturing, process and consumer industries,
utilities, the oil and gas markets, with 160,000 employees in more than 100
countries.