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  • lee_woo_chi lee_woo_chi Feb 24, 2010 11:03 AM Flag

    What caused the run-up from 2006

    Few Targets
    “There aren’t a lot of things out there,” he said. “We will look opportunistically at targets.”
    While ABB doesn’t plan to expand into new business areas, Hogan said the company’s reach in the U.S. and in the rest of the Americas still needs to improve. Hogan said he would let the operating margin temporarily slip below his target corridor to absorb a purchase.
    The last time ABB spent more than $1 billion was in 1998, with the takeover of Elsag Bailey Process Automation NV for $2.1 billion from Finmeccanica SpA. ABB itself is the result of a merger of BBC Brown Boveri of Switzerland and ASEA AB of Sweden in 1988. The company makes components to transmit and distribute electricity, motors and generators, as well as factory robots.
    Hogan said ABB’s portfolio is in “good shape” and that he doesn’t intend to dispose of the robotics business, the only division to report an operating loss in the fourth quarter as carmakers scale back investment in equipment.
    Hogan said he plans to expand robots beyond the automotive industry as the machines become more sophisticated, according to the CEO. ABB created two new divisions this year to help facilitate a better integration of the robotics unit into other areas, the biggest realignment of ABB’s operations yet under Hogan’s tenure.
    “We have done major surgery and we think the patient is now stable,” Hogan said of the robotics unit.
    For Related News and Information: Top Stories: TOP <GO> Company News: ABBN VX <Equity> CN <GO>
    Last Updated: February 22, 2010 19:01 EST

    L. W. Chi

20.91+0.210(+1.01%)Jul 22 4:02 PMEDT