Swiss-Swedish ABB is in talks with Hitachi Ltd, Mitsubishi Electric Corp and State Grid of China to sell all or part of the engineering group’s power grids business. The business area has improved its performance over the last two years, but still has the lowest profit margin among ABB’s businesses. Power Grids employs 36,000 people and had sales of USD 10.4bn with an operating profit margin of 10% last year.
