Swiss ABB To Boost China Investment To US$1 Billion

ByBridgeNews Asea Brown Boveri Ltd. (ABB), the world's top automation technology provider, is projected to increase investment in China to US$1 billion in the next three or four years, the official Xinhua news agency reported over the weekend. This moves ABB's business volume up to third in the group's global sales network, sources told Xinhua. The Swiss company is among the world's largest electrical engineering equipment groups, with more than 1,000 subsidiaries in over 100 countries and regions. ABB's business total volume reached $8.1 billion last year, Xinhua reported. ABB now has 25 solely funded enterprises and joint ventures and 20 representative offices in China, employing 5,000 people.