ABB Invests CHF 40 Million to Strengthen Its Presence in Switzerland


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Comserve Inc.

Sep 11, 2020, 11:00 EST


Bronx, United States, Sep 11, 2020, 11:00 /Comserve / -- Global engineering company, ABB has recently unveiled its plans to invest CHF 40 million for the construction of a new R&D center and office space to facilitate its Motion and Industrial Automation Business Areas at the company’s largest Swiss location.

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Zurich, Switzerland, September 09, 2020: Global engineering company, ABB has recently unveiled its plans to invest CHF 40 million for the construction of a new R&D center and office space to facilitate its Motion and Industrial Automation Business Areas at the company’s largest Swiss location, i.e., Turgi.

It is planning to construct a new energy-efficient multipurpose building in Turgi by 2024.  The construction is planned to start next year during the spring season. The building will feature intelligent products and systems coupled with innovative digital technologies to automate the power distribution and controls of the building. The location will cover an area of around 7,000 square meters to provide a modern working environment to its employees via a combination of office space and R&D facilities.

Through this investment, ABB aims to strengthen its presence in several high-growth areas while also allowing the company to expand its innovation capacity. According to Robert Itschner, the Country Managing Director of ABB Switzerland, this is the most significant investment that the company had made so far in Switzerland, and it will enable ABB to boost its power electronics business.

Headquartered in Zurich, ABB is a leading electrical and electronics manufacturing company that specializes in varied domains such as robotics, data centers, e-mobility, marine vessels, motors and generators, smart buildings, and renewable energy, among others. According to the financial statement, the company reported total revenue of USD 12,370 million during H1 2020 as compared to the previous year’s revenue of the same period which was USD 14,018 million, a slight decline by (-) 12 % Y-o-Y. The company’s operation was hit due to the COVID-19 outbreak.

Earlier in August, ABB launched a Terra 184 electric vehicle charger which was installed all over Japan to modernize the country’s electric vehicle infrastructure. In July, the company also launched a new analytics and artificial intelligent software to help industries optimize and streamline their business operations.

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