ABB Ltd (ABB) has won an order valued at $165 million from State Grid Corporation of China for supplying 800 KV ultra-high voltage direct current transformers.
The converter transformers will facilitate a reliable flow of power across a new UHVDC link meant for transmitting hydropower from Yalong river in Sichuan province to the Jiangsu province on the eastern coast of China.
The emerging markets have significantly benefited the company and are expected to be a major driver of growth. With the increasing rate of industrialization in these regions, demand for energy efficient solutions like electrical grids and productivity enhancing means is on the rise.
In 2011, the company expects to benefit from the emerging markets as well as other regions, enabling its customers to construct and improve power infrastructure and enhance industrial efficiency and productivity.
ABB Ltd.’s power and automation technologies offer a solution for sustainable development, thus helping to shield the world’s resources. The company has a number of technologies for the solar power industry and also a growing installed base. ABB Ltd has witnessed improving signs in late-cycle power, with some recent large contracts.
ABB Ltd. is a Zurich (Switzerland)-based power and automation technology company. The company operates in approximately 100 countries. Its global organization is structured into five regions: Europe, Americas, Asia, the Middle East and Africa. Siemens AG (SI) is a major competitor of ABB Ltd.
We maintain a Zacks #2 Rank (short-term Buy recommendation) on ABB Ltd.
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