Word: boveri
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Dates: during 1990-1999
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...assessment was like Barnevik himself: analytical, quick, blunt and, above all, global. As chairman of ABB Asea Brown Boveri, the world's largest electrical-engineering group, Barnevik, 57, presides over a $36 billion federation of more than 1,000 companies with 217,000 employees in 140 countries. Zurich-based ABB is the biggest single investor in Eastern Europe and the former Soviet Union, a Western pioneer in India and an aggressive player in East Asia and Latin America. For three years running it was voted "Europe's most respected company" in a poll of executives by the Financial Times newspaper...
Last month Barnevik gave up the title of chief executive officer he had held since he created ABB in 1988 by fusing Sweden's Asea with Switzerland's BBC Brown Boveri. Though he will remain a strong presence at ABB, the move will give him time to preach his gospel of East-West economic cooperation to skeptical politicians, labor leaders and business executives. "This is something very close to my heart," he says. "If we can combine the low wages in the East with the high skills in the West, we can revitalize Europe." Barnevik believes the West...
Although large Swiss multinationals like the engineering giant Asea Brown Boveri and food conglomerate Nestle have a global presence, scores of less dynamic firms do not and could find themselves at a competitive disadvantage. Even Switzerland's powerful banks and insurance companies will come under pressure as E.C.-based rivals operate in newly deregulated markets. "We must look at Switzerland as if it is a corporation," says the head of the economy department, Jean-Pascal Delamuraz. "How competitive are we? Perhaps we have been successful for too long. Perhaps we have lost a little of our dynamism...
...homegrown industry after another to more aggressive and competitive foreign rivals. First came cameras, then televisions, tape recorders, stereo equipment and semiconductors. Last week Cincinnati Milacron, the last independent U.S. producer of heavy industrial robots, agreed to sell the business to a subsidiary of Switzerland's Asea Brown Boveri...