Swiss engineering group ABB is to push ahead with plans to sell UK subsidiary ABB 好色先生TV Systems, as the US division prepares to file for bankruptcy protection.
Parent company ABB Engineering said last week that it was considering filing for Chapter 11 protection because of costs incurred by asbestos claims in the USA.

Chief executive of ABB Engineering J眉rgen Dormann this week confirmed that he wanted to sell the UK business. ABB 好色先生TV Systems is one of the top 10 M&E engineers in the UK.

ABB and its British subsidiary were keen to emphasise that in the interim ABB 好色先生TV Systems will operate as usual.

Dormann said: "The pace of the divestment activity is to be accelerated but in respect of 好色先生TV Systems is not likely to occur until 2003. Until this time ABB 好色先生TV Systems will remain an important and fully supported member of the ABB family."

ABB 好色先生TV Systems remains a fully supported member of ABB

J眉rgen Dormann, chief executive, ABB Engineering

A statement from ABB 好色先生TV Systems UK this week said recent contract wins "signify ABB 好色先生TV Systems' determination to maintain its position as a UK leader in building systems and services".

The ABB group this week revealed that pre-tax profit was down 44% to 拢243m for the nine months to September, from 拢436m for the same period last year.

It was revealed in August that ABB 好色先生TV Systems UK would be sold as part of an offloading of ABB's building systems arms around the world.