Promoting technology: ABB foundation to support engineering students
Zurich, Switzerland— Support for engineering and science education got a boost recently when ABB , a leading power and automation technology group, announced it will create a foundation to provide scholarships for students in engineering and natural sciences. The ABB Jürgen Dormann Foundation for Engineering Education will begin awarding the grants to graduate students starting in 2008. It will provide funding of $16.6 million (20 million Swiss francs) for talented and needy students through an annual scholarship for a maximum of five years.
The foundation is named after Jürgen Dormann, who retired as chairman at the company’s annual general meeting on May 3, in recognition of his contribution to the company. Dormann became chairman in 2001 and served as chief executive officer from September 2002 to December 2004.
“As a leading technology company, engineering is at the core of our activities,” said ABB's president and CEO Fred Kindle. “We are proud to support the next generation of engineers. Engineering plays an essential role for ABB and also for the technical and economic progress of society.”
The foundation will be run as a Swiss-based not-for-profit organization. Scholarships will be awarded on the basis of ability, potential, and personal means, and are open to students around the world. More information for candidates will be available on a special section of the ABB Website in the near future.
“ABB's ambitious strategy for growth requires the recruitment of many qualified engineers on a worldwide basis, many of these employment markets have experienced tightening supply in recent years,” said Gary Steel, ABB's head of human resources. Steel will chair the foundation's board of directors. “This foundation encourages high-potential students who may not otherwise be able to continue their education in engineering and natural sciences, and also helps increase the pool of potential ABB employees.”
ABB is active 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 109,000 people.