ABB upbeat as demand for efficient systems grows
The headquarters of Asea Brown Boveri (ABB) in Zurich-Oerlikon. Swedish-Swiss engineering giant ABB issued an upbeat forecast, saying demand was recovering for technologies delivering energy efficiency and productivity.
AFP - Swedish-Swiss engineering giant ABB issued an upbeat forecast on Thursday, saying demand was recovering for technologies delivering energy efficiency and productivity.
"We feel more confident about the recovery in most of our markets than three months ago and believe that our short-cycle businesses will continue to perform well over the rest of 2010," said Joe Hogan, ABB's chief executive.
"After the worst economic recession seen in decades, customers are returning to invest in the energy efficiency solutions, for both power and automation, to enhance their efficiency, productivity," he added.
"We expect customer capital expenditures, especially on the power side, to recover later in 2010 and into 2011," said Hogan, as the group published its second quarter earnings. more