ABB Goes Long On the United States

on March 29, 2013 at 8:30 AM

Even in an era of struggling economic growth, it makes sense to invest money in efficiency and cost savings efforts. For companies that provide those services in the energy sector, the traditionally often wasteful approaches of companies accustomed to cheap or subsidized supply is a huge opportunity as many finally bite the bullet and invest in industrial efficiency.

That’s the message behind the results of global power and automation technology giant ABB’s results from its US operations in 2012, the company said at a customer conference in Orlando this week. The firm has invested $10 billion US manufacturing and software since 2010, including the acquisition of electric products Baldor, components firm Thomas & Betts and software firm Ventyx.

ABB says the effort has paid off. “Organic order growth reach 12 percent in 2012 as US industrial customers ordered more products like robots, instruments, motors and low-voltage products to increase productivity and energy efficiency,” the company said. ABB is headquartered in Zurich, Switzerland and its shares are listed in Zurich, Stockholm and New York. The firm employs roughly 145,000 people in 100 countries around the world.

“The US is the single largest market for ABB,” CEO for the region Enrique Santacana said in an announcement highlighting the company’s commitment to the country’s energy sector. “The expansion in the US and North America is a pillar of the company’s 2015 growth strategy.”

Like other firms with a foot in both technology and energy-related manufacturing, ABB has invested in a North Carolina facility, opening its $100 million cable line factory near Raleigh in 2012.

Read more about ABB’s focus on US investments on Breaking Energy here, and about its high-voltage technology breakthrough in 2012 here.