ABB is a pioneering technology leader that is writing the future of industrial digitalization. For more than four decades, they have been at the forefront, innovating digitally connected and enabled industrial equipment and systems. Every day, they drive efficiency, safety and productivity in utilities, industry, transport and infrastructure globally. With a heritage spanning more than 130 years, ABB operates in more than 100 countries and employs around 135,000 people.
With more than four decades at the forefront of digital technologies, they are a leader in digitally connected and enabled industrial equipment and systems with an installed base of more than 70,000 control systems connecting 70 million devices. Each year ABB dedicates around $1.5 billion to fund research and development activities driven by over 8,500 technologists in four divisions and seven corporate research centres.
Maintaining their position as one of the world’s leading engineering companies requires technology leadership, global presence, application knowledge and strong local expertise. ABB creates and supports a comprehensive range of products, systems and services that increase energy efficiency, reliability and productivity for its industrial, utility and infrastructure customers. Accelerating momentum in operational excellence. ABB continues to build on its existing momentum and is further accelerating its operational excellence.
The company’s white-collar productivity savings program has outperformed expectations since its launch last year. As a result, ABB has increased the program’s cost reduction target by 30% to $1.3 billion. ABB will achieve these additional savings within the initially announced timeframe and with unchanged restructuring and implementation costs. ABB is continuing its regular cost-savings programs, leveraging operational excellence and world-class supply chain management to achieve savings equivalent to 3-5% of cost of sales each year.
ABB reaffirms the target of its 1,000-day working capital program to free up approximately $2 billion by the end of 2017. The program is well on track and focuses on improving inventory management by optimizing the entire value chain, from product design to manufacturing, and by optimizing other net working capital measures.