ABB Sees Stable Growth Despite Tough Market

by swisscham in Engineering, Manufacturing

ABB China, the Chinese unit of the Swiss-Swedish multinational engineering company ABB Ltd, registered stable annual sales growth in 2012, despite difficult local industrial conditions. In a financial statement issued on 6th March, the company said sales in China grew by 2% to USD 5.2 billions, which it put down to the country’s ongoing infrastructure program as well as surging exports to neighboring countries.
However, officials said the past year had been a tough one for the group.
CompetingwithcompaniessuchasSiemensAG, ABBsawitsgroupprofitinthethirdquarterdropby 4 percentto $759 million, comparedwithanaverageanalystforecastfor $764 million, accordingtoaReuterspoll.
StrongdemandinChinainthefourthquarter, however, helpedthegroupbeatquarterlyforecasts, sendingitssharestooneoftheirhighestpointsin 18

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Swiss Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

  • This field is for validation purposes and should be left unchanged.
October 14, 2021
Published By in Business
October 13, 2021
Published By in Bank / Finance / Insurance
October 7, 2021
Published By in Engineering / Manufacturing
September 28, 2021
Published By in Business
September 18, 2021
Published By Consulate General of Switzerland in Guangzhou in Bilateral Relations