ABB announce plans to save $1 billion by creating new power grids division

• 9 years ago (2015-09-10)

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While ABB's Discrete Automation and Process Automation divisions will be 'further aligned', a new Electrification Products division will combine the company's low and medium voltage businesses.

This new Electrification Products division will include all of ABB's MV products, control products, building products, breakers and switches, LV systems and its Thomas & Betts activities. The new division will generate revenues of around $10.6 billion (based on 2014 results) and employ around 42,000 people.

Ulrich Spiesshofer, ABB CEO, said: "T he actions we are announcing today will deliver additional value in a more focused way to customers through our unique power and automation offering." On the one hand, this would also allow the new Power Grids division to be "number one globally in supplying power and automation solutions for power grid customers," while on the other the new Electrification Products division "will provide our customers with one of the broadest LV and MV offerings."