Statement
Zurich, Switzerland, September 1, 2006 - ABB announced today that the Chapter 11 Plan of Reorganization of its U.S. based subsidiary, ABB Lummus Global Inc., became effective yesterday after the order of the U.S. District Court affirming the Plan became final on August 31, 2006.
"We are very pleased that we have resolved the asbestos claims against Lummus Global for good. Lummus will now be in a much stronger position and we see a very good future for the company. This is a very solid business with great technology expertise and a committed workforce, operating in attractive oil, gas and petrochemical markets" Fred Kindle, CEO and President of ABB said.