ABB Gets $547 Million Loan From the European Investment Bank
By Pierre Bertrand
ABB said it has signed for a loan from the European Investment Bank to support its electrification business research and development.
The Switzerland-based technology company said Tuesday that it will use the 500 million euro ($547 million) loan toward its next-generation electrical-distribution solutions.
These solutions will include circuit breakers and technology that enhances building efficiency and automation, ABB said in a statement.
The funding will support research and development projects in several European countries including Germany, Italy, the Czech Republic, Finland, Norway, Poland and Switzerland, the company said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
November 21, 2023 04:31 ET (09:31 GMT)
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