ABB wins Samsung Heavy Industries ‘Supplier of the Year’ award

Houston, TX, Nov. 11, 2009 – – ABB, the leading power and automation technology group, has been named ‘Best Supplier of the Year 2009’ by South Korean shipbuilder Samsung Heavy Industries (SHI).

ABB has overcome a field of entirely South Korean competition to secure the prestigious award, considered by SHI to be one of the most important evaluation tools at its disposal to highlight best business practices among sub-suppliers.

Benchmarked from the car industry, the SHI Best Supplier of the Year award is given to the sub-supplier identified as outstanding in its ability to ensure stability in supply chain management for shipbuilding. The SHI ‘Q-Mark’ represents the highest accolade the shipbuilder can award a supplier.

“We demand a track record of excellence and reputation from our suppliers, as we can’t compromise our reputation with our clients,” said Ki-dong Park, SHI project manager. “ABB has proven over time to be highly credible and trustworthy supplier specialized in electronic equipment for sophisticated vessels.”

SHI’s selection criteria for the award includes a rigorous evaluation of its supplier’s product quality, ability to deliver on time, the longevity of the relationship, value for price, the supplier’s credit level and its capacity to cope with unforeseen and emergency scenarios.

“It is quite special for a sub-supplier from outside Korea to win this coveted award,” said Chang Soo Hong, ABB vice president, global sales and marketing for ABB’s Marine business. “Normally, this award goes to a local company. We believe that this award reflects our strategy of ‘thinking global, acting local’.”

ABB opened an office near SHI’s main shipyard in South Korea in 2006. Backed up by professional project management and industry experience, ABB strives to ensure timely communication, delivery and action on critical projects, combined with leading-edge solutions for its marine customers.

Building on a relationship stretching back to the mid-1990s, ABB secured most of the available business from SHI in the exploration and production market in the period 2003-2008. During that time, accumulated ABB business with the world’s second largest shipbuilder included systems for installation on board 22 liquefied natural gas carriers and 23 complex drillships.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 120,000 people.