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

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  • 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.
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