Disposal

ABB Ltd
27 August 2007


ABB sells Lummus Global to CB&I

• Sale in line with group strategy to focus on core activities in power
  and automation

• ABB's core businesses continue to serve oil and gas, refining and
  petrochemical industries


Zurich, Switzerland, August 27, 2007 - ABB, the leading power and automation
technology group, has agreed to sell its Lummus Global business to Chicago
Bridge & Iron Company (CB&I) for an enterprise value of $ 950 million. The sale
is subject to regulatory approvals and approval by CB&I's shareholders.


Under the terms of the agreement, Netherlands-based CB&I will purchase the
entire Lummus Global business. Lummus Global employs about 2,400 people and
reported revenues of $988 million in 2006.


'The divestment of Lummus Global is the final milestone in our strategy of
focusing on our highly successful core business in power and automation
technology,' said Fred Kindle, ABB President and CEO. 'At the same time, we are
pleased that CB&I is taking over our Lummus Global business. They are an
experienced engineering, procurement and construction company and are therefore
in a very good position to further develop Lummus Global's market activities and
operations.'


In connection with the divestment of Lummus Global, ABB has discovered certain
suspect payments in a number of countries. ABB reported these suspected payments
to the U.S. Department of Justice (DoJ) and the Securities and Exchange
Commission (SEC) and is fully cooperating with the authorities, while continuing
its internal investigations and compliance reviews. ABB retains liability for
potential fines and penalties.


In recent years, the ABB Group has been successfully focussing on its strengths
in power and automation technologies. ABB's core automation and power businesses
remain committed to the oil and gas sector and will maintain and develop their
long-standing relationships with key customers


Lummus Global is a leading provider of proprietary process technologies, project
management and engineering, procurement and construction (EPC) management
services to the upstream and downstream oil and gas, petrochemical and refining
industries worldwide.


CB&I executes more than 500 projects each year and is one of the world's leading
engineering, procurement and construction (EPC) companies, specializing in
projects for customers that produce, process, store and distribute the world's
natural resources. With more than 60 locations and approximately 14,000
employees throughout the world, CB&I capitalizes on its global expertise and
local knowledge to safely and reliably deliver projects virtually anywhere.
Information about CB&I is available at www.CBI.com.



ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve their performance while lowering
environmental impact. The ABB Group of companies operates in around 100
countries and employs about 111,000 people.




                      This information is provided by RNS
            The company news service from the London Stock Exchange