Swiss ABB Begs $78 Mln Saudi Contract To Provide Transformers

Swiss electrical technology and equipment provider ABB Ltd (ABB) announced on Wednesday that the company was awarded a contract worth $78 million to provide transformers to Saudi Arabia’s national power transmission and distribution operator.

The equipment will be used for two new combined cycle power plants near the Saudi capital of Riyadh.

Shares of ABB are unchanged in pre-market trading, last at $23.01 with a 52-week range o $21.26 to $27.25.

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Andy Weld, CFA, is an editor and equity analyst for The Downtown Leader. If you have a great story idea for Andy Weld, you can write at [Andy.Weld@downtownleader.com ].

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