Related party transactions

Affiliates and associates

In the normal course of our business, we purchase products from, sell products to and engage in other transactions with entities in which we hold an equity interest. The amounts involved in these transactions are not material to ABB Ltd. Also, in the normal course of our business, we engage in transactions with businesses that we have divested. We believe that the terms of the transactions we conduct with these companies are negotiated on an arm’s length basis.

Key management personnel

Details of important business relationships between ABB and its Board and Executive Committee members, or companies and organizations represented by them, are described in section “Business relationships” of the Corporate governance report contained in this Annual Report.