Swiss giant in the power sector, ABB Ltd (ADR) (NYSE:ABB) is looking to unfold its ‘next level strategy’ by expanding in the US market. In an interview with Bloomberg‘s Betty Liu, the CEO of the world’s largest maker of power grids, Ulrich Spiesshofer, talked about what his company has to offer to the US market.
“[…] We drive organic growth to the next level by really focusing stronger on high growth segments, like micro grids, industrial automation, here in the US for example, which is very attractive for us and we will drive the execution quality […],” said Spiesshofer.
Spiesshofer mentioned that the re-industrialisation in the US is very real, especially during the current oil boom, and ABB Ltd (ADR) (NYSE:ABB) has a lot of products like its advanced robots in the automotive industry, which could help achieve this growth faster and in a more environmental friendly manner.
He pointed out that ABB Ltd (ADR) (NYSE:ABB) has the technology to provide growth with as little energy consumption as possible, thus reducing the footprint on the environment. Furthermore, the company also specializes in alternative sources of energy like wind and solar power that could be used to achieve this growth.
Spiesshofer, who has been the CEO for just about a year now, was an important part of ABB Ltd (ADR) (NYSE:ABB)’s acquisition deals worth about $11 billion. For the time being, he said that his company will take a breath and focus more on consolidation and wait for the ‘right time’ for any attractive acquisition deals. His focus seems to be on what he calls the ‘next level strategy’ which entails a fresh emphasis on engineering, consulting and software services.
The $53 billion power and automation giant competes with big names in the industry like Siemens, General Electric Company (NYSE:GE) and Rockwell Automation (NYSE:ROK). The company has recently announced its $4 billion share buy-back program to hand back some of the revenue to the investors from its asset sales.