FXEMPIRE
search icon
Ad
Advertisement
Advertisement

ABB targets faster growth for motion business

By:Reuters
Updated: May 17, 2022, 05:22 UTC•1min read
ZURICH (Reuters) – ABB is aiming to increase sales at its motion business 50% quicker than the overall market for electric motors, the Swiss engineering company said on Tuesday ahead of its investor day for the division.
Most Popular
EUR/USD
$1.02132
+0.18%
Bitcoin
$23,147.54
-2.96%
S&P 500
$4,122.47
-0.42%
Natural Gas
$7.916
+2.67%
Logo of Swiss power technology and automation group ABB is seen at the Swiss Economic Forum conference in Interlaken

ZURICH (Reuters) – ABB is aiming to increase sales at its motion business 50% quicker than the overall market for electric motors, the Swiss engineering company said on Tuesday ahead of its investor day for the division.

The business, which makes motors and drives, is targeting faster growth by offering more variable speed drives which save energy.

Currently only 23% of the world’s 300 million industrial electrical motors have variable speed drives, which consume less energy and are more environmentally friendly, ABB said.

(Reporting by John Revill; Editing by Paul Carrel)

Advertisement
Don't miss a thing! Sign up for a daily update delivered to your inbox
    icon
    Loading
    Loading
    Loading

    Trade With A Regulated Broker

    FXEMPIRE
    FOLLOW US
    IMPORTANT DISCLAIMERS
    The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
    RISK DISCLAIMERS
    This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.