For investors, an Notübung, for the employees, a lot of uncertainty

The sale of ABB's power line division of the Japanese Hitachi group gives the impression of a Notübung that at the end nobody is satisfied. Best buy CEO Ulrich spiesshofer and the Board of Directors President Peter Voser to time from unhappy shareholders. But that's not.

For the approximately 2800 employees in the power line division in Switzerland, the sale provides a very long period of uncertainty. Until the formal completion of the deal to the Japanese, one and a half years should pass. Until then, is likely to remain unclear whether and how much the new owner will make to the site, Switzerland savings.

Spiesshofer is once again optimistic, from his discussions with the Japanese, he gained the impression that Hitachi would be in Switzerland rather additional Jobs, he says.

But the Japanese themselves are, however, less euphoric: In the media release from Hitachi is the point, how many people in the new, merged current-division will be employed, only in a succinct way: "Still undetermined." What seems certain, however, that it will come in the Wake of the announced reorganization, ABB at the company's headquarters in Zurich-Oerlikon to cuts.

No response to the growth of doubt

not very convincing, also the communication in terms of sales, the current network appears to the division: In just two years, the ABB leadership had committed to the sale and this is justified with the dazzling prospects for the future of the business: the division would take "the opportunities of the energy transition and of the Fourth Industrial Revolution". Now the area is sold. And the sale proceeds will not be reinvested in the remaining business of ABB pure, but is to be distributed 100 percent to the shareholders.

This turnaround can be explained alone with the pressure from shareholders such as the investment company Cevian. The big shareholder urges for years to a stronger focus of FIG. However, to ignite instead of a course fireworks, turned the ABB share on the day of the long-awaited sale announcement even short of the loss zone. The hoped-for relief from the criticism by the saves of sale is likely to be the group's leadership so short-lived.

in order for investors to regain confidence in ABB, must Spiesshofer deliver the long-promised growth. To achieve the growth target of 3 to 6 per cent, managed to FIGURE in a period of global economic boom only selectively. It will be exciting to see how the target is now in a Phase of global cooling can be achieved. The sale of the tradition-rich business with high-voltage lines is not the answer to the growth of doubt, in FIG. (Editorial Tamedia)

Created: 17.12.2018, 15:12 PM