ABB has embarked on a £137 million ($240 million) investment programme
ABB has embarked on a £137 million ($240 million) investment programme to streamline its global transformer business. The aim is to consolidate its position in the marketplace against a background of worldwide manufacturing over- capacity, rising raw material costs and a regional shift in demand.
The company will be focusing on increasing productivity and improving efficiencies, and will close a small number of its higher-cost plants.
The new programme will be completed by the end of 2008. In 2004 the transformer business had global sales of around $2.5 billion and employed 15,000 people in 57 plants located in 28 countries.