Swiss en­gi­neer­ing firm to ex­pand

China Daily (Canada) - - NEWSCAPSULE -

The Swiss en­gi­neer­ing group ABB says it is look­ing to dou­ble its pres­ence in China to 200 cities in the next three years.

Ul­rich Spiesshofer, chief ex­ec­u­tive of­fi­cer of ABB Group, says the com­pany aims to have 20,000 people work­ing for it in China soon and pur­sue growth driv­ers such as en­ergy-ef­fi­cient tech­nolo­gies and in­fra­struc­ture to in­crease prof­its.

ABB also will spend $300 mil­lion over the next five years to set up a pro­duc­tion hub for power and low-volt­age prod­ucts in the coastal city of Xi­a­men in Fu­jian prov­ince.

ABB China’s rev­enue grew 7.7 per­cent to $5.6 bil­lion last year. The com­pany’s cu­mu­la­tive in­vest­ment in China reached $1.8 bil­lion last year, with $136 mil­lion be­ing the ac­tual in­vest­ment in 2013. (Photo 3)

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.