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Press release Box-ID: 288044

ABB Asea Brown Boveri Ltd Affolternstrasse 44 8050 Zurich, Switzerland http://www.abb.com
Contact Mr Wolfram Eberhardt +41 43 317 65 68
Company logo of ABB Asea Brown Boveri Ltd
ABB Asea Brown Boveri Ltd

ABB sees energy, climate change and emerging-markets driving demand

Energy efficiency already a driver for technology representing about 45 percent of revenue

(PresseBox) (Zurich, Switzerland, )
ABB, the leading power and automation technology group, said the economic crisis is reinforcing three trends that have been driving demand for the company: the battle against climate change, the search for energy and process efficiency, and the strength of emerging markets.

The trends will extend beyond the current economic cycle and will increasingly shape ABB's research and development activities, as well as decisions on where to locate new facilities, CEO Joe Hogan said today in Zurich.

Efforts to lower greenhouse-gas emissions and especially to promote renewable energy have gained new momentum under the stimulus plans of many governments, Hogan said. In addition, awareness that energy prices will rise over the long term, combined with the need to cut costs to weather the current downturn, are driving industries to improve the efficiency of their energy consumption and processes.

ABB also said that approximately 75 percent of the growth it has seen in the past five years has come from the emerging economies, and that this trend is likely to continue.

"Despite the current economic crisis, the long-term growth factors for ABB remain unchanged: Steadily rising electricity demand, the rapid rebound of the emerging-market economies and the need to feed renewable power into existing grids require solutions for more and better power infrastructure, energy efficiency and industrial productivity," Hogan said. "As a high-tech infrastructure company and market leader for power and automation technologies, ABB is ideally positioned to offer solutions to these challenges, and we are continuing to invest aggressively in new technology."

Energy efficiency was a primary purchasing criterion for products, systems and services representing about 45 percent of ABB's revenue in 2008, the company also said today, and as energy prices increase this share will rise further.

Opportunities to increase this share abound. An ABB analysis of industrial energy consumption carried out this year has shown that $180 billion could be saved annually by improving energy efficiency and productivity with the best-performing technologies on the market today.

ABB Asea Brown Boveri Ltd

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 120,000 people.

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The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.