UK Calling ABB - Analyst Blog
May 19 2011 - 4:00AM
Zacks
ABB Ltd. (ABB)
received a contract in Cheshire, United Kingdom for automation and
instrumentation work at a new natural gas storage facility.
Storengy, a GDF Suez company in Cheshire will be using the Stublach
facility.
The new storage facility will have
a capacity to store more than 400 million cubic meters of gas in
salt caverns deep in the underground. The storage facility will be
controlled by ABB System 800xA along with ABB
Instrumentation.
Gas transmission between the
caverns and the United Kingdom’s National Grid Transmission System
(NTS) is done
by gas compressors on the processing plant. Before the gas is
returned to the NTS, it is dried in an on-site drying plant. The
site is expected to be in operation in more than 25
years.
ABB is the Main
Instrumentation and Automation Contractor (MIAC) in the project
while Jacobs Engineering (JEC) is responsible for
Engineering, Procurement and Construction of the plant. Engineering
design services for the Automation, Safety Instrumented System
(SIS) together with an 800xA Integrated Process Control system and
800xA based SIS, ABB and third party instrumentation will be
provided by ABB to Jacobs.
ABB Ltd.’s power and
automation technologies offer a solution for sustainable
development, thus helping to preserve the world's resources. The
company has a number of technologies for the solar power industry
and also a growing installed base. ABB Ltd. has witnessed improving
signs in late-cycle power, with some recent large
contracts.
However, ABB's results are
likely to be adversely affected by macroeconomic weakness as more
than 80% of its orders are derived from outside the US. A major
competitor of ABB Ltd. is Siemens AG
(SI).
ABB Ltd. is a Zurich
(Switzerland) based power and automation technology company.
The company operates in approximately 100 countries, structuring
its global organization into five regions: Europe, Americas, Asia,
the Middle East and Africa.
We maintain a Zacks #2 Rank
(short-term Buy recommendation) on ABB Ltd.
ABB LTD-ADR (ABB): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
SIEMENS AG-ADR (SI): Free Stock Analysis Report
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