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by Stephanie Neil, MA Editorial Staff Posted on Wednesday, September 05, 2007 5:26:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Looking ahead, the automation player sees strong demand and reiterates plans to stick to its knitting, selling automation and power products in the global market. |
| Keywords: | ABB, strategic plan, 2011 growth, automation vendors, automation systems, Honeywell, Invensys, DCS, 800xA, distributed control system |
Automation giant ABB today outlined its growth initiatives through 2011, predicting strong worldwide demand for power systems and infrastructure, and a surge in manufacturers' investments in technology to improve productivity and energy efficiency in plants. During a press conference today at the World Trade Center in Zurich-Oerlikon, Switzerland, ABB officials confidently predicted that the company will increase revenue organically at almost twice the rate of global gross domestic product (GDP). World GDP will grow 3.4% through 2011, according to economic forecasting company Global Insight. Meanwhile, ABB is on a trajectory to grow revenue by 6% in the global market, and hopes to increase that rate to 8% to 11% on a compound annual basis between now and 2011. The company has positioned itself for continued growth by divesting non-core businesses — most recently with the sale of Lummus Global to Chicago Bridge & Iron — and reporting consistently strong earnings. Since 2004, ABB has delivered 17 consecutive quarters of performance improvement, showing a compound annual growth rate of 9%. [Click to continue] |
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