LONDON: Swiss engineer ABB is in strategic review mode. As demand growth slows, it wants to take US$1bil from overall annual costs. Given the strength of the headwinds it is experiencing elsewhere in its large empire, ABB might also conclude it is better off without its power grids unit.
ABB is being hobbled by muted investment in the oil and gas industry due to the low oil price and slowing growth in China and other emerging markets.
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