ABB looking at automation, electrification acquisitions

Swiss engineering group ABB is targeting five to ten acquisitions per year, CEO Bjorn Rosengren said on Thursday, with the company focusing on takeover targets in electrification and automation.

“In the divisions, we are constantly screening the market for interesting technology and products,” Rosengren told reporters after the company reported second-quarter earnings.

“We are looking at small to medium-sized (assets)…. not for anything really large. It could also be a smaller division which would strengthen ABB’s position either in electrification or automation,” he added.

(By John Revill; Editing by Jan Harvey)