ABB India Ltd. to Incorporate Wholly Owned Subsidiary for Robotics Business

ABB India Ltd. has announced its plan to incorporate a Wholly Owned Subsidiary (WOS) to house its Robotics business. The decision comes in continuation to ABB Group’s global plan to spin off its Robotics division. The Company’s Robotics business is operationally and technologically integrated with ABB’s Global Robotics division. The Board of Directors has approved the appointment of registered valuers to carry out a valuation of the Company’s Robotics business and the incorporation of the WOS. No decision has been taken yet on the divestment of the Robotics business to the Company’s parent group or any third party.