Deals
ABB Planning More Deals to Expand in Robotics, CEO Tells NZZ
- CEO tells Swiss paper cash flow is ‘fundamentally robust’
- Reducing complexity at ABB will take time, Spiesshofer says
A logo stands on the roof of an ABB Ltd. plant in Baden, Switzerland.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
ABB Ltd. will plow ahead with more acquisitions to expand in robotics and industrial automation even as the Swiss engineering giant carries out the sale of its power-grids unit to Hitachi Ltd., Chief Executive Officer Ulrich Spiesshofer said in an interview with Neue Zuercher Zeitung.
“We bought six companies in the last two years in robotics and will acquire more,” the newspaper cited the 54-year-old CEO as saying. The executive, who in December told Bloomberg he had the “financial horsepower” for more deals, reiterated plans to bolster the company’s electrification arm in Latin America, southeast Asia and sub-Saharan Africa.