ABB Ltd
20 March 2000
ABB Corporate Communications, Zurich
John Fox
Tel: +41 1317 7371
Fax: +41 1317 7958
john.fox@ch.abb.com
ABB Investor Relations, Zurich
Manfred Ebling
Tel: +41 1317 7266
Fax: +41 1311 9817
investor relations@ch.abb.com
ABB confirms $650-million Brazil petrochemicals order
Zurich, Switzerland, March 20, 2000 - ABB, the global technology company,
confirmed today that a consortium consisting of ABB and Snamprogetti of Italy
has signed a US$650-million order to develop a greenfield gas chemical complex
near Rio de Janeiro, Brazil. ABB announced in January of this year that it had
signed a Letter of Intent on the deal.
The order was placed by Rio Polimeros Ltda. and covers the design and
construction of ethylene and polyethylene facilities using proprietary ABB
ethylene process technology. The plant is scheduled to enter commercial
operation at the end of 2003.
Rio Polimeros Ltda. is owned by Brazilian petrochemicals groups Suzano and
Unipar, as well as state oil company Petrobras and BNDES development bank.
ABB is a global technology company serving customers in
power transmission and distribution; automation; oil, gas and petrochemicals;
industrial products and contracting; and in financial services. Power
generation customers are served by ABB ALSTOM POWER. The ABB Group employs
about 165,000 people in more than 100 countries.
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