ABB to provide world’s largest stainless steel processing lines

US$ 21 million order in China will more than double steel production

Zurich, Switzerland, August 15, 2003 - ABB, the leading power and automation technology group, said today that it has signed two contracts totalling US$ 21 million with Ningbo Baoxin Stainless Steel Company of China. ABB’s technology will support the development of the world’s largest stainless steel processing lines, and help Baoxin to more than double production.

“We are delighted that Baoxin has turned to ABB for world-class metals processing solutions,” said Dinesh Paliwal, head of ABB’s Automation Technologies division. “We have enjoyed exceptional success in this area over the past few years, and our strong local expertise should help the Baoxin project to become yet another milestone for the stainless steel industry in China.”

ABB will provide equipment and systems to help develop the largest hot and cold annealing and pickling lines in the world, as well as state-of-the-art rolling mills at the Ningbo plant, near Shanghai. ABB will supply specialized technologies for rolling, flatness control and metal conditioning, plus process control products, drives and motors.

ABB in Germany and China will cooperate on the projects, which are planned for completion within two years. The work will support Baoxin’s drive to boost its current annual output of 300,000 tons of finished product to 700,000 tons. ABB has already designed, engineered and commissioned a complete annealing and pickling line for another part of the Ningbo facility, as well as providing other specialized equipment and technologies.

ABB is the world leader in supplying rolling mill processing lines for the stainless steel industry.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impacts. The ABB Group of companies operates in around 100 countries and employs about 133,000 people worldwide.

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