When the Internet of Things+, digitization has become a hot pursuit of capital, as the old leader in the field of power and automation, on the occasion of its 125th anniversary, ABB released the latest transformation strategy in the field of Internet of Things and digitalization, or become a benchmark in the industry.
Its latest transformation priorities include: building four market-oriented business units, retaining the power grid business and continuing to promote transformation; fully tapping ABB's growth potential in the digital field; accelerating the advancement of operational excellence; and strengthening the ABB brand building.
Four division transformation
Fifteen years ago, Charles Brown and Walter Boveri founded the Brombeau Farrell company in Baden, Switzerland. Today, ABB has grown into a global top 500 company and is an industry leader in the fields of industrial automation, robotics, and digitalization.
On October 4, ABB announced that it will build four major market-oriented business divisions, namely the Electrical Products, Robotics and Motion Control, Industrial Automation and Power Grid Business Units, which will take effect on January 1, 2017.
ABB Group Chief Executive Officer Spiep said: “The new phase of the 'new phase' strategy will further consolidate the position of global technology leaders and digital leaders. With the concept of 'ABB Ability' digital solutions, it will be more streamlined. The four divisions will be market-oriented and more focused and agile to meet the new needs of customers in the energy revolution and the fourth wave of industrial revolution."
Fusai, chairman of ABB Group, stated that the transformation of the power grid business, which is retained by the ABB management, continues to be a decision made after careful evaluation by all parties. The four divisions will be fully empowered and will further strengthen their compensation methods based on performance.
Among them, the Electrical Products Division will become the preferred partner for all electrical consumers. At present, part of the discrete automation and motion control business will be allocated to it.