ABB has been actively involved in strategic acquisitions to expand its market presence and product portfolio. Recently, ABB Electrification Canada Inc. completed the acquisition of Bel Products Inc., a leading Canadian manufacturer of commercial, industrial, and custom - made enclosures. This acquisition significantly enhances ABB's market position in Canada and the United States.
By integrating Bel Products' manufacturing, warehousing, and supply chain capabilities, ABB can better serve its customers in North America. The expanded product portfolio allows ABB to offer a wider range of solutions to its clients in various industries. For example, in the industrial sector, the new enclosures can be used to house electrical and electronic components, providing protection and ensuring optimal performance in harsh operating environments.
ABB is also collaborating with other companies to drive innovation in different sectors. In the nuclear energy industry, ABB has signed a memorandum of understanding (MOU) with SimGenics, an advanced plant simulator company. The collaboration aims to support the development and provision of engineering, training, and distributed control system (DCS) simulators for the nuclear energy industry, primarily in North America.
With both the US and Canadian governments implementing policies to stimulate the deployment of nuclear energy for electricity generation, this collaboration comes at a crucial time. The simulators developed through this partnership can be used for testing and validation during the design stage of nuclear power plants, as well as for on - site training and engineering purposes. This will contribute to the safe and efficient operation of nuclear power plants, ensuring a reliable and low - carbon energy supply.
In the realm of sustainability, ABB has been recognized for its efforts. It has been ranked 14th in Time's "World's Most Sustainable Companies 2025" and third in Switzerland across all industries. Time and Statista assessed over 5,000 of the world's largest and most influential companies, considering factors such as revenue, market capitalization, and public prominence.
ABB is also committed to social responsibility through its internship and training programs. The company offers scholarships, internships, apprenticeships, and summer jobs in more than 100 countries. Currently, there are over 1,740 interns in 39 countries. These programs not only provide young talent with valuable learning opportunities but also allow ABB to benefit from the fresh perspectives and innovative ideas of the next generation. For instance, in Finland, more than 800 trainees were welcomed in Vaasa, Turku, and Helsinki during the summer of 2024, contributing to the company's knowledge base and fostering a culture of continuous learning.
