Xiamen's Communist Party Secretary Yu Weiguo and ABB Group CEO Joe Hogan congratulate ABB's achievement in Xiamen
Xiamen, Fujian, Sept. 27, 2012 - ABB, the leading power and automation technology group, said here today it will focus on innovation, service, and talent development to strengthen its competitiveness in China during the 20th anniversary celebration of its first Chinese joint venture, ABB Xiamen Switchgear Company.
Joe Hogan, ABB CEO, said, "Despite the economic slowdown in the country in the short term, there is a consolidated view for a strong market in the long run. As such, we are focused on a number of key areas, including innovation, service, and talent development to strengthen our competitiveness and maintain an above-market growth rate in the coming 5 years."
"Our strategy for the next 5 years will continue to focus on 'In China for China and the world.' As we move to 'made and designed in China' we can better meet local market requirements and respond faster and more flexible. We will therefore optimize our R&D footprint by setting up more product development and engineering centers in more cities and staying closer to the Chinese talent pools and our customers," Hogan added.
ABB's service offering has become of a key area of business growth, both in China and globally. The group aims to develop services and increase their contributions to revenue by 20-25% by 2015. To support such an ambitious business plan, more than 20 service hubs and centers will be set up, covering all white spots.
ABB has been ranked as one of the most preferred employers in the past years both in China and globally, by various media and institutions. In China, the number of ABB employees has grown at an annual rate of 11% over the past 5 years, attracting more than 7,300 new hires. Moreover, 10 out of 16 members of ABB China's top management team are of Chinese origin.
Employees working in ABB Xiamen Switchgear Company for 20 years celebrate the company's anniversary.
"In the next 5 years, ABB will strengthen its relationship with top universities and schools and enhance our image as a preferred employer," commented Claudio Facchin, President of ABB North Asia and China. "We will invest more on people's development, mobility and local leadership development. With these measures, we hope to attract more talents into ABB, adding 25% more employees in the next 3-5 years. Furthermore, we will also strive to develop more Chinese leaders in key management positions. "
"With our strong emphasis on R&D, service, and talent development, we are confident of staying competitive and consolidating our leadership in the market." Facchin expressed.
ABB was one of the first power and automation companies to move its full value chain to China. Since setting up its first joint venture in 1992, ABB has continuously moved its manufacturing, engineering, R&D, service, and business hubs to the country. In 2005, the group established one of its 7 global R&D centers in Beijing. The next year it moved its robotics headquarter to Shanghai. By the end of 2011, ABB had 36 local companies with 18,300 employees and annual revenue of USD5.1 billion in China, one of ABB Group's largest markets.
Established in 1992, ABB Xiamen Switchgear Company specializes in R&D, production, sales, and service of medium voltage switchgear and circuit breakers. The company is one of the biggest manufacturers of medium voltage primary switchgear and circuit breakers both within ABB Group and China, with an annual production capacity of more than 20,000 units of switchgear and more than 50,000 units of vacuum circuit breakers.
Its products have been widely used in "Water Cube" and numerous facilities at Shanghai World Expo and the Guangzhou Asian Games. Many national and provincial leaders, including former President Jiang Zemin, Premier Wen Jiabao, Vice Premier Li Keqiang, and former Provincial Governor Xi Jinping, have visited the company and acknowledged its outstanding performance and contributions to the local economy.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their 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 18,300 employees, 36 local companies, and an extensive sales and service network across 80 cities.
