ABB statement on Chloride

Zurich, Switzerland, July 1, 2010 – ABB, the global power and automation technology group, has reviewed the offer announced by Emerson on 29 June 2010 of 375p per Chloride share and has decided not to match Emerson’s offer.

“While we still see considerable value in the combination of ABB and Chloride and have a high regard for the Chloride management team, we must take a disciplined approach when assessing potential acquisitions,” said Joe Hogan, ABB’s CEO.

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 117,000 people.

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