ABB to boost its R&D presence in China

Global power and automation technologies supplier ABB Group is making heavy investments in research and development in China to offer smart technologies to support the country's next level of urbanization and industrialization, a company executive has said.

After doubling the investment in R&D in its largest market in the past three years, the European company will further expand investment, said Ulrich Spiesshofer, chief executive officer of ABB Group.

The new CEO, who took the job last month, strongly advocated smart technologies as the best solution for China's urbanization and industrialization drive at the 25th International Business Leaders Advisory Council in Shanghai during the weekend, in his report, "Building on Shanghai's Industrial and City Strengths".

"It has been fascinating to witness the evolution of Shanghai over the past 30 years. ABB feels honored and privileged to be able to contribute to this historic transformation," said Spiesshofer.

He said that smart technologies are the essential elements required for the city to remain competitive in a globalized economy and to help promote innovation-driven development through the expansion of the service and high-end manufacturing industries.

"Smart technologies are the best way to realize intelligent upgrading to the next level of intelligent infrastructure and industry, supporting Shanghai to maintain its competitiveness," he added.

Spiesshofer also said in his first visit to the country as CEO that he "is glad to see ABB's excellent business performance in China, as our new orders grew by double digits in the third quarter."

ABB said it has been taking the lead in power and automation technology development. In the power grid, ABB's smart technology can help customers manage electricity demand in a sustainable, reliable and economic manner, built on advanced infrastructure and tuned to facilitate system integration, said Spiesshofer.

In urbanization, ABB products and solutions are at the heart of a city's critical infrastructure, and are relied upon for everything from the supply of power, water and heat, to the automation of buildings and infrastructure, helping to build smart cities with energy efficiency, he said.

In manufacturing and production, ABB smart technology supports smart products and solutions, helping customers move to the next level of industrialization with automation processes.

The company's motion control solutions help customers to improve energy efficiency in a significant way, Spiesshofer added.

Meanwhile, ABB also offers comprehensive residential smart-technology solutions, and the energy consumption of buildings and homes can be greatly reduced with its technologies, said ABB China President Claudio Facchin.