Beijing, November 27, 2014 - ABB, the leading power and automation technology group, was recognized with awards for 9 local companies ranked among the "2014 China Top 100 Electric Companies" announced today. In terms of the number of subsidiaries on the list, ABB is a forerunner among electric companies in China. ABB also won two other prestigious awards: "China's Top 10 Electric Companies by Competitiveness" and "China's Top 10 Electric Companies by Innovation Capability", fully demonstrating ABB's leadership in the electric industry.
"China Top 100 Electric Companies" is an annual award hosted by Electric Age magazine, a leading trade magazine sponsored by the China Machinery Industry Information Institute. It has been successfully held 15 times. The list is a barometer of China's electric industry, fully reflecting the current development of China's electric companies. It has become the annual focus of the Chinese electric industry.
ABB's local companies in this year's ranking are ABB Engineering (Shanghai) Co. Ltd.; ABB Beijing Drive Systems Co., Ltd.; ABB Xiamen Switchgear Co., Ltd.; ABB Xiamen Low Voltage Equipment Co., Ltd.; ABB High Voltage Switchgear Co., Ltd. Beijing; ABB Xinhui Low Voltage Switchgear Co., Ltd.; ABB Shanghai Motors Co., Ltd.; ABB High Voltage Switchgear (Xiamen) Co., Ltd.; and ABB Electrical Machines Ltd.
China is ABB's second largest market worldwide. Over the years, ABB has maintained a strong pace of investment in China and continues to promote the localization of its R&D, production, sales and service. By the end of 2013, ABB's total investment in China reached $1.8 billion. In March 2014, ABB announced that it will invest 2 billion yuan in the next five years to establish an "ABB Xiamen Industrial Center" in Xiamen's National Torch Hi-tech Industrial Development Zone, further reinforcing ABB's business foundation in China.
Thanks to the long-term investment, ABB has continuously made breakthroughs in R&D and innovation. In 2014, ABB has launched energy-saving products developed especially for the Chinese market, including low-voltage motor M2BAX and medium-voltage drive ACS580MV; the new-generation ELK-4 800 kV gas-insulated switchgear used for EHVAC and UHVDC transmission; environmentally-friendly gas-insulated switchgears using a new environmentally-friendly gas instead of sulfur hexafluoride, as well as other green smart technologies and products. Currently, ABB's electrical products have been widely applied in the utility, industry, transport and infrastructure fields. Following China's energy plans, ABB has provided smart technology and support for many projects in China, including HVDC transmission, connection of clean energy into the grid, microgrid and smart substations, contributing to the construction of a "strong smart grid" in China.
In September 2014, ABB launched the 2015-2020 "Next Level" strategy. "Smart Technology, Intelligent Upgrading" is the perfect interpretation of ABB's new strategy for the Chinese market. ABB will continue to maintain a steady pace of investment in China, promote the development of local R&D and innovation, contributing to China's long-term sustainable growth.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility, industry, and transport and infrastructure customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people. ABB has a full range of business activities in China, including R&D, manufacturing, sales and services, with 19,000 employees, 37 local companies, and an extensive sales and service network across 109 cities.