ABB reports strong end to 2010
ABB reported strong order growth in the fourth quarter of 2010 with earnings before interest and taxes (EBIT) rising 23% to $978 million for the whole group.
The discrete automation and motion division saw orders increase in the fourth quarter as industrial customers continued to invest in automation solutions to increase productivity and energy efficiency.
Regionally, orders grew at a strong double-digit pace in Europe, the Americas and Asia. Orders in China were up more than 40% compared to the same quarter in 2009.
The revenue increase was driven primarily by execution of the strong order backlog in the shorter-cycle businesses such as robotics, low-voltage motors and drives.
