25-year deal is country’s largest private finance contract for street lighting
Zurich, Switzerland, April 10, 2003 - ABB, the leading power and automation technology group, said today it has signed a 25-year private finance contract, worth US$ 350 million, with Staffordshire County Council in the U.K. to ensure improved lighting in the region’s streets.
ABB will take responsibility for the long-term management of street lighting and illuminated traffic signs. It will also assess the condition of the remaining lighting equipment and replace it when necessary.
“This contract highlights ABB’s growing service business in its Power Technologies division and demonstrates our ability to carry out asset management projects which combine strategic consultancy with proven technical services,” says Peter Smits, head of ABB’s Power Technologies division.
ABB will use its advanced condition monitoring and asset management software with an innovative Web-based customer information system. The software will maximize the reliability of the assets at the lowest possible cost.
It is the largest private finance contract for street lighting in the U.K. ABB’s power technologies will reduce the amount of electricity used and cut pollution.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 139,000 people.