Washington’s efforts to re-shore U.S. manufacturing by passing pro industry legislation looks to be working as things just keep getting better in the once struggling sector…
It was recently announced that global manufacturing giant ABB is making yet another big bet on the future of the industry by investing a whopping $170 million in a selection of their U.S. plants.
Set to include plants in Wisconsin, Tennessee, Georgia, New Mexico, Michigan, Pennsylvania and South Carolina, the reported investments look to take a specific focus on the company’s electrification and automation businesses while also supporting the clean energy transition and the trend towards reshoring production back to U.S. soil.
This is yet another smart business move by ABB executives as – with approximately 20,000 employees in more than 40 manufacturing / distribution facilities across the nation and a customer base that makes up 24% of the company’s annual revenue — the U.S. is, by far, the company’s largest market.
Speaking on these recent developments, ABB CEO Björn Rosengren recently stated his belief that, “The United States is critical to ABB’s success as a market that will continue to grow and benefit from our product portfolio that enables the transition to a more energy-efficient future.”
Adding to that, he noted, “Currently, 85% of ABB’s Sales in the U.S. are from products produced locally, which provides customers with a more secure supply chain and keeps good-paying manufacturing jobs in America.”
Founded in Zurich Switzerland in 1988, ABB Ltd. came to be with the merger of Sweden’s Allmänna Svenska Elektriska Aktiebolaget (General Swedish Electrical Limited Company) and Switzerland’s Brown, Boveri & Cie.
Originally listed as ASEA Brown Boverie, executives decided to simplify the company’s name and go with the title we know today, simply ABB.
Over the next 30+ years, ABB would continue produce profits and expand, continuously being listed as a global Fortune 500 company.
Today, ABB is a publicly traded company on, both, the Swiss and New York stock exchanges and is one of the leading and most respected experts in the worlds of manufacturing, robotics and automation.
Now, there are some regulatory hurdles ABB needs to jump before the company can move forward with their announced updates, but it appears all those issues are covered as well…
With the recent passing of inflation, CHIPS and infrastructure legislations coming out of D.C., ABB not only has a friendlier business environment to invest in, but also must meet several new guidelines in order to make the results of those investments into a reality.
Speaking on this very subject, ABB’s US Country Holding Officer Michael Gray recently stated that, “The Inflation Reduction Act is triggering investment in clean energy and supporting businesses that can produce technology locally. More than ever before, ABB is designing and producing products domestically to serve our US customers, as they move towards more sustainable electric power generation, clean energy manufacturing, electric transportation, and industrial efficiency including carbon capture and storage, as well as methane reduction.”
As noted above, this most recent move by ABB to help bring U.S. manufacturing back to life is good, not just for the company, but for the industry and the country as a whole.
Since its founding, ABB has helped lead the way when it comes to the latest and greatest automation and manufacturing capabilities in the industry. A fact that has definitely helped them become the success story they are today.
… And with a continued goal of investing, growing and serving American customers by creating jobs, encouraging innovation and achieving a more productive and sustainable future, it should come as no shock that a large investment in the manufacturing sector by this global powerhouse is definitely being taken as a good sign of what’s to come in the U.S. manufacturing industry in the months ahead.
P.S. We here at Rain Engineering value ALL of our connections, both big and small.
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