ABB chief's integration call

Ulrich Spiesshofer says ABB's 'long-term growth drivers are fully intact'

Ulrich Spiesshofer says ABB's 'long-term growth drivers are fully intact'

ABB will step up efforts to integrate the various elements of its business, particularly recent acquisitions such as PV inverter giant Power-One, says new chief executive Ulrich Spiesshofer.

The call for better orchestration between ABB’s divisions came as Spiesshofer gave an optimistic – if steady-as-she-goes – assessment of the business of which he took command from Joe Hogan last month.

Net profit rose 10% to $835m in the third quarter, while revenues were up 8% to $10.5bn at the Swiss-Swedish engineering giant.

Of ABB’s five divisions, Power Systems, under which much of its renewables activity is lumped, felt the stiffest headwinds, as a shuffling of strategic priorities and broader economic uncertainties cut into the large orders – those worth more than $15m – coming in.

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