Accelleron completes successful spin-off from ABB with shares admitted to trading on SIX Swiss Exchange
Press release | Baden, Switzerland | Oct 3, 2022
- Accelleron becomes an independent listed entity
- Shares admitted to start trading on SIX Swiss Exchange as of today
Accelleron Industries AG ("Accelleron"), a global leader in high-power turbochargers for mission-critical applications, announces that its spin-off from ABB has been successfully completed. Accelleron’s shares have today been admitted to start trading on SIX Swiss Exchange in Zurich, under the ticker symbol "ACLN". The listing follows the approval by ABB shareholders for the spin off at ABB’s Extraordinary General Shareholders Meeting on September 7, 2022. Accelleron is headquartered in Baden, Switzerland and active in 50 countries across the globe.
As an independent business, Accelleron will now focus on implementing its own, independent growth strategy with an attractive cash generation profile. This will build upon Accelleron’s position as a market leader in heavy-duty turbocharging, supporting industries that are critical for modern life, including the marine, energy and rail/off-highway sectors.
Oliver Riemenschneider, Chairperson of Accelleron's Board of Directors, commented:
“Today is a historic milestone for Accelleron, marking the start of our journey as an independent company with strong roots in Switzerland. I am excited about the opportunities ahead, building on our 100-year legacy with ABB and our position as the market leader in high-power turbocharging. We have an impressive growth strategy driven by our leading technology and services offering, coupled with our commitment to R&D. I am confident that we are well positioned to take advantage of global megatrends and deliver compelling results for our stakeholders..”
Sustainability is at the center of Accelleron’s business. As a pioneer in reducing fuel consumption and improving the emissions profile of its clients, Accelleron is well placed to capitalize on the opportunities presented by renewable energy and sustainable transportation, with its best-in-class product portfolio, its leading R&D capabilities and its acknowledged power of innovation.
This technological strength is underpinned by Accelleron’s service business, supporting clients globally with a network of over 100 service stations, its comprehensive technology offering and the rapid availability of servicing.
High demand for Accelleron’s products and services is reflected by its strong financial profile with robust and recurring service revenues. Going forward, the business will continue to explore new growth opportunities, strengthening partnerships with customers to enter adjacent sectors and build its presence in high-growth geographic markets, while also expanding its R&D capabilities, focusing on digitalization and decarbonization.