Tuesday, December 16, 2008

ABB: A Nice Order Rolls In

I did a profile on Swiss industrial giant ABB last week, and today they announced a new order.

Swiss electrical-engineering company ABB Ltd. (ABB) said Tuesday it won a $87 million order in the U.S. to expand the capacity of the power transmission system.

ABB said the order is to expand and strengthen the power transmission network in the area of Los Angeles, California, so that it can deliver more electricity from renewable sources.

This is exactly the type of order I've been expecting ABB to get. I think we will see many more as alternative energy projects are rolled out in the next couple of years.

Link to the press release.

Disclosure: Long ABB

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