By Pierre Bertrand

ABB Ltd shareholders voted to approve the spinoff of the Swiss technology company's turbo-charging unit into a separately listed company.

The new company, now called Accelleron Industries AG, was spun off with 99.72% of the vote during an extraordinary general shareholders meeting held Wednesday.

It manufactures turbochargers and large turbocharging components for engines, which enhance propulsion and increase fuel efficiency while reducing emissions.

Accelleron will now be listed in October on the SIX Swiss stock exchange.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

September 07, 2022 06:16 ET (10:16 GMT)

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