Enrique Santacana

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. Keep reading →

Swiss-Swedish engineering giant ABB group President and CEO Designate Fred Kindle speaks at a press conference in Bangalore 22 November 2004. Kindle, stating that India was the country with the fastest growing operations within the ABB group, announced that his company, which two years ago opened its first research and development center outside Europe and the United States in Bangalore and currently employs about 100 engineers there, will employ another 500 professionals over the next couple of years. The Bangalore center develops engineering solutions and support automation activities across the ABB group.

International companies continue to invest in the US energy sector, with Swiss-based ABB picking up electrical components firm Thomas & Betts for $3.9 billion today, bringing its total business in North America to a total of $10 billion and keeping it the single largest market in the world for the European company. Keep reading →