Growing Demand For Electrification & Automation Products? ABB Invests More In US To Reap On It

ABB Ltd ABB is investing approximately $170 million in the U.S., reflecting increased customer demand for electrification and automation products.
The U.S. is ABB's largest market, comprising 24% of the company's annual revenue.
The investment will enhance its electrification and automation businesses and support the clean energy transition.
The company noted the Inflation Reduction Act supports its continued investment in creating a more secure supply chain and strengthening local manufacturing.
ABB's investment projects underway across the U.S. include the opening of Drives and Services manufacturing facility in New Berlin, Wisconsin. The nearly $100 million greenfield investment is expected to be completed in late 2024.
Since 2010, ABB has invested $14 billion in U.S. plant expansions, operational improvements, state-of-the-art equipment, products, and people.
Price Action: ABB shares are trading lower by 0.86% at $34.13 on the last check Tuesday.