ABB acquires HSB Reliability
ABB, a power and automation technology provider has acquired HSB Reliability Technologies and HSB Reliability Systems groups for an undisclosed amount. The acquired businesses have more than 70 years of reliability and maintenance consulting and implementation experience with the world’s leading manufacturing companies in both the process and discrete industries.
These groups were part of The Hartford Steam Boiler Inspection and Insurance Company, one of the world’s leading equipment breakdown insurers. These groups will be integrated into ABB’s service organization, effective immediately.
"We look at this acquisition as a strong, strategic investment in the future of ABB, our new employees and our industrial customers," said Michael Drew, Vice President of Global Engineering & Consulting Services. "With the global reach of ABB’s services organization, combined with the experience and innovative reliability solutions, the opportunities to significantly improve our customers’ operational and financial performance will be greater than ever.
HSB provides plant and equipment productivity improvement solutions through the implementation of reliability and maintenance strategies, process optimization, scorecard development, operational change management and asset management information technologies. ABB’s consulting and outsourcing based solutions provide strategies and solutions for increased asset availability and production rates while improving safety compliance and decreasing maintenance costs.”
"They are a perfect fit for ABB’s service strategy," said Dinesh Paliwal, head of ABB North America. "This expands ABB’s capabilities to improve our customers’ asset effectiveness and productivity through consulting, asset class outsourcing, and full service maintenance."
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey