The stock closed at $24.01, up 7 cents on the day.
Along with Siemens, one of our favorite conglomerates.*
There are a lot of issues that could keep Joe Hogan up at night. As the CEO of ABB Group, one of the world leaders in power electronics and automation, he’s keeping his eye on the strife in the Middle East, the price of copper and oil, where future engineers will come from, the opportunities and threats in China -- not to mention his own company’s balance sheets. The good news on the latter is that ABB is looking strong, with $31 [b]illion in revenue in 2010 and a renewed focus in mergers and acquisitions.
At ABB Automation & Power World in Orlando, Hogan spoke about how the world’s need for new infrastructure and increasing automation gives ABB a strong position -- even in the face of climbing prices for commodities and a volatile financial economy. “When you build infrastructure, you build wealth,” he said. Hogan pointed to a few key areas where ABB is well positioned as the markets expand:Previously:
- Wind. ABB saw record growth in China of 40 percent in 2010 and the speed at which Chinese manufacturers can ramp up production makes it a very dynamic opportunity, according to Hogan. He pointed to their already strong presence in China working with OEMs and that they expect that to only continue into 2011 and beyond.
- Rail. Putting aside the U.S., “rail is very exciting,” said Hogan. He pointed to the sophistication of controls and traction drives, not to mention the trains themselves (which ABB does not make), and it’s a high-tech market with a lot more players getting into the game as countries like China and Brazil expand high-speed rail plans....MORE
Sep 20, 2010
Venture Capital: "ABB Invests in On-Demand Data Center Power" (ABB)
The stock is up another 20 cents at $20.80.
Hey, we were just talking about ABB!*
[he's always talking about ABB -ed]
On Friday it was "Siemens; ABB lifted to conviction buy at Goldman: ABB, Siemens, Schneider to Gain From Demand for Smart Grids, Goldman Says (SI; ABB)"