Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
ABB is a Swedish-Swiss multinational company specializing in electrical engineering and power engineering.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedABB has decided to exit the Russian market due to the ongoing war in Ukraine and impact of related international sanctions. When the war broke out, ABB stopped taking new orders in Russia. At the same time, it has been fulfilling a small number of existing contractual obligations with local customers, in compliance with applicable sanctions. It was still “working on completing the exit […] in compliance with all applicable laws and sanctions.” Swedish-Swiss electrical equipment manufacturer ABB Ltd. has received permission to sell its Russian business. JSC Concept-Invest has received permission to purchase 100% of shares in ABB LLC, according to Russian President Vladimir Putin's order No. 157-rp of May 8, which was published on the official Internet portal of legal information. The seller of 99% will include ABB Asea Brown Boveri Ltd. and 1% of ABB Verwaltungs AG (both companies are registered in Switzerland). Revenue significantly (by -99%) decreased in 2024 vs 2023. 05.12.2025: CONCEPT-INVEST becomes the new founder of ABB LLC. ABB ASEA BROWN BOVERIE and ABB VERVALTUNGS have been removed from the Unified State Register of Legal Entities.
| May 08, 2025 | ABB receives government approval to sell Russian business |
| February 19, 2023 | Only 18 Swiss companies have completely exited Russia, says Yale professor |
| July 21, 2022 | ABB to exit Russian market |
| March 02, 2022 | ABB pauses intake of orders from Russia, Ukraine and Belarus |