10 ABB local companies listed among China’s Top 100 Electric Companies for 2012 with total number increases compared with 2011
ABB selected as one of top 10 most competitive, most innovative and most potential company
Beijing, December 7, 2012 - ABB, the leading power and automation technology group, retained its top position in terms of number of companies listed among “2012 China’s Top 100 Electric Companies,” as announced by leading trade magazine Electric Age, sponsored by the China Machinery Industry Information Institute. ABB led the award category for the 9th consecutive year with 10 of its local companies on the list, one more than the previous year, fully demonstrating ABB’s overall strength in the power industry.
Additionally, by virtue of its outstanding performances in terms of market competitiveness, R&D, innovation, growth, and profitability, ABB was also named to three other prestigious lists, namely “China’s Top 10 Electric Companies by Competitiveness,” “China’s Top 10 Electric Companies by Innovation Capability,” and “China’s Top 10 Electric Companies by Growth Potential.”
Guo Rui, Deputy Dean of the China Machinery Industry Information Institute, said during the award ceremony, “In 2012, global economic growth experienced a significant slowdown and China’s electrical industry was impacted by a number of unfavorable factors such as rising labor costs, raw material price fluctuation, the adjustment of investment size, and a decline in exports. It is not easy for China’s power industry to withstand these huge challenges and still achieve good financial results. Yet many companies have looked at the adverse environment as an opportunity to seek breakthroughs and drive business development through innovation. After further structural adjustment, and accelerating their transformation and upgrade, these companies have enhanced their core competitiveness and demonstrated their confidence in the industry’s development. In the long run, the Chinese market will be full of opportunities and will remain one of the largest and most dynamic in the global electrical industry.”
The ABB local companies ranked among China’s Top 100 Electric Companies are: ABB Beijing Drive Systems Co., Ltd.; ABB Engineering (Shanghai) Co. Ltd.; ABB Xiamen Switchgear Co., Ltd.; ABB Xiamen Low Voltage Equipment Co., Ltd.; ABB High Voltage Switchgear Co., Ltd. Beijing; ABB Xinhui Low Voltage Switchgear Co., Ltd.; ABB Zhongshan Transformers Co., Ltd.; ABB Shanghai Motors Co., Ltd.; ABB LV Installation Materials Co., Ltd. Beijing; and ABB Hefei Transformers Co., Ltd., all of which have been on the list several times previously.
China is ABB’s second largest market in the world. Currently, ABB runs 36 local companies in China that are fully dedicated to local design, manufacturing, sales, engineering, and service. In 2011, ABB achieved revenue of 5.1 billion USD in China, an increase of 21% year on year, and ABB China exported to more than 40 countries, increasing export growth by 50% over the previous year.
In China, ABB has maintained a strong investment pace, totalling more than 1.5 billion USD. In 2012, ABB’s has invested to further optimize its product portfolio and strategic layout. For example, in Shanghai, ABB upgraded its robotics quality center to further optimize procedures in robot production and enhance quality control to the global benchmark level. In Suqian, Jiangsu Province, ABB cooperated with a leading local enterprise to found ABB Jiangsu Jingke Instrument Transformer Company, which specializes in high-voltage instrument transformers.
ABB has achieved steady performance in the third quarter of 2012 despite numerous challenges and uncertainties in the current economic situation. Over the next five years, ABB will continue to implement its strategy of “In China, for China and the World,” further expand production R&D and engineering centers across the country. ABB will also vigorously develop its service business with plans to set up over 20 new service centers, in line with the ABB group target for its service business revenue to account for 20-25% of global sales by 2015.
The list of China’s Top 100 Electric Companies has been compiled annually by Electric Age. The top 100 electric companies were selected according to their revenue figures in 2011 as reported by China’s official statistics organization. The minimum sales revenue to be listed on the 2012 China Top 100 Electric Companies is 850 million yuan.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people. ABB has a full range of business activities in China, including R&D, manufacturing, sales and services, with 18,300 employees, 36 local companies, and an extensive sales and service network across 80 cities.
Previous: GM and ABB demonstrate Chevrolet Volt Battery Reuse
Next: ABB powers Tsinghua University’s expedition to Solar Decathlon 2013