Engineering firm ABB Ltd. (ABB: Quote,ANN.L) said it would provide an update on its 2011-15 strategy at its annual Capital Markets Day today, focusing on boosting its competitiveness through innovation, cost savings and productivity improvements. The company would explain its strategy, and on how it is implementing its plan to grow service revenues to 20-25 percent of the Group's total sales by 2015. Further, ABB noted that its targets for 2011-15 period were reaffirmed.
According to the company, the global economy has so far developed in line with its expectations. ABB based its growth forecast on a global slowdown in the 2011-2013 period and an average global GDP growth of 3-4 percent over the period. In addition, the company anticipated global industrial capital expenditures to grow by an average of 5-6 percent per year to 2015, led by the emerging markets.
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by RTT Staff Writer
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