Revenues in India expected at least to double by 2010
Additional $100 million investment announced
4,000 new jobs to be added by 2010
Zurich, Switzerland, Dec. 3, 2007 – ABB 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,” said 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.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs more than 110,000 people.
