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Article: 'The sky is the limit' for ABB after US judge removes pounds 800m hurdle.(Business)
- Article from:
- The Birmingham Post (England)
- Article date:
- July 12, 2003
CopyrightCOPYRIGHT 2003 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: John Duckers Business Editor
ABB shares jumped yesterday in the wake of Thursday's decision by a US judge to approve a crucial pounds 800 million asbestos settlement.
It eases the way to the sale of the engineering group's oil, gas and petrochemicals unit needed to cut a potentially crushing debt load.
'An important hurdle has been overcome -it is certainly a relief for investors,' said Mark Diethelm, analyst at Zuercher ...