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ABB Attractive for Automation Exposure

Denise Molina, CFA (denise.molina@morningstar.com)

The company also announced a partnership with Dassault Systemes, which increases its exposure to higher-value industrial automation software with an offering more in line with that of Siemens and Schneider Electric. The robotics division came in with better growth than we expected, up 11% for the fourth quarter and 8% for the year, about 200 basis points above our 6% forecast. The industrial automation division (process automation) posted just 1% growth, about half of what we expected.