ABB plans major expansion in India
By Manufacturing Business Technology Staff -- Manufacturing Business Technology, 12/3/2007 2:10:00 PM
ABB, a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact, plans to rapidly develop its Indian operations by investing $100 million over three years to expand business, engineering, and R&D capacities, build new factories, and broaden its automation and power product range in India.
The company also plans to create some 4,000 new jobs, which will bring the total number of employees in India to 10,000 by 2010.
Driven by strong demand for power infrastructure and rapid growth in the industrial sector, ABB's revenues in India are expected at least to double over the same period to more than $2 billion by 2010. The goals are part of the ABB Group strategy published in September.
“India is becoming a key location and market for our global growth strategy and will play an essential role in further strengthening ABB’s global footprint,” says Fred Kindle, president and CEO of the ABB Group. “India will soon be among ABB's top five markets.”
Based on strong local and global demand for power and automation technologies, ABB’s Indian operations have grown every quarter for almost seven years.
