Growth in Middle East, Africa and Asia gives ABB major fillip
ABB CEO Ulrich Spiesshofer has outlined how growth in the Middle East in automation and general performance is propelling the market forward after ABB released its Q1 figures.
ABB’s Q1 report exhibited a 20% increase in orders in the Middle East, Asia and Africa.
Spiesshofer said: "The infrastructure needs but also the upgrade and the industry side (have done well), and the investment in automation — not only in robotics — have made for a very strong quarter, and I'm very pleased with that performance.”
Q1 showed a net profit of US$572 million for ABB, which was slightly above forecasts, while revenue also rose above forecasts to $8.63 billion.
Spiesshofer added: "If you look at the way ABB is positioned, we're bringing power from any power plant to any consumption block of electricity.
“Renewables are kicking in, e-mobility is coming and this will be a great opportunity for us.
“In the automation side, there is no other player that has process, control, discreet automation, robotics and electrification and a strong digital platform.
“So we're shaping the world with our offering and we're contributing, so that means we participate in the growth.”
Automation continues to be heralded as the future of the supply chain, and ABB is one of the world’s largest engineering firms with logistics and infrastructure projects all over the world.
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