Reported about 13 hours ago
ABB is boosting its investments in the U.S. to adapt to anticipated tariff increases from the Trump administration and capitalize on local economic growth, according to CFO Timo Ihamuotila. He stated that enhancing local production is crucial, as the company already produces about 80% of its products in the U.S., its largest market. ABB plans to expand its manufacturing sites and may consider acquisitions, despite high valuations of potential targets. Ihamuotila emphasized the importance of free trade but acknowledged the current tariff situation.
Source: YAHOO