ABB has announced actions across three of its divisions to complete the business model change for engineering, procurement and construction (EPC). These decisions are in line with the company’s strategy to shift the centre of gravity towards strengthened competitiveness, higher growth segments and lower risk. In the power grids division, the company has signed an agreement to form a joint venture with SNC-Lavalin for electrical substation EPC projects; SNC-Lavalin will have majority and controlling interest. The new entity will leverage ABB’s power technology leadership and SNC-Lavalin project expertise to capture opportunities for profitable growth. These actions complement the ongoing “Power Up” programme which will see a shift of its focus towards solutions and service-based customer offerings.
Contact Shivani Chetram, ABB, Tel 010 202-5090, email@example.com
Source: EE plublishers