ABB looks to pricing, acquisitions to boost process automation profit
ZURICH (Reuters) – ABB is aiming to further raise profitability in its process automation business through pricing, acquisitions and strict cost management, the Swiss engineering company said on Wednesday, ahead of its capital markets day for the division.
The company said it planned to grow the business by helping more companies manage the energy transition and boosting its digital business.
“Process Automation today already generates approximately $500 million in orders from industrial software and digital services and expects continued double-digit growth in this area,” it said in a statement.
(Reporting by Brenna Hughes Neghaiwi; Editing by Tom Hogue)