Business Today

'ABB India will be a key building block of the new ABB'

In December 2018, ABB announced a $11 billion deal to sell its power grid business to Hitachi. In his first interview after the announcement, Ulrich Spiesshofer, President and former CEO of ABB Group, talks to Business Today's Rukmini Rao

Q. You recently announced the sale of ABB's power grid business to Hitachi. What will be the focus of the new ABB entity?

A: The new ABB will be a leader in technology, focussed entirely on digital industries. At present, we provide a range of offerings for digital needs of industries. One is our industrial automation solutions for process industries which drive competitiveness of our customers. We also provide technology solutions through our robot and discrete manufacturing business. We also have a big presence in the motion business, focussing on motors, drives, mechanical power transmission, etc. So, the new ABB is poised to be the partner of choice, helping customers in different industrial segments tap the opportunities of industrial digitalisation.

Q. So, what has changed in terms of focus? How will the realignment of the businesses help?

In power grids, we

You’re reading a preview, subscribe to read more.

More from Business Today

Business Today1 min read
All Guns Blazing
INDIA’S DEFENCE EXPORTS HAVE JUMPED ALMOST 31-FOLD TO A RECORD OF ₹21,083 CRORE IN FY24 FROM ₹686 CRORE IN FY14, REFLECTING THE COUNTRY’S GROWING CLOUT IN THE GLOBAL DEFENCE MANUFACTURING MARKET. WITH A ROBUST LOCAL MANUFACTURING ECOSYSTEM AND MORE T
Business Today2 min read
“Hire For Attitude, Not Ability”
Thryve Digital is a player in the healthcare technology sector delivering next-generation solutions What was the problem you were grappling with? When I decided to take on the challenge of setting up Thryve Digital, there wasn’t any industry referenc
Business Today2 min read
Silver Lining
SILVER PRICES SURGED to a fresh all-time high on the Multi Commodity Exchange (MCX), surpassing the ₹84,000 per kg milestone on April 12. The silver market has experienced significant fluctuations in recent quarters, driven by many factors, including

Related Books & Audiobooks