ABB's Voser battles headwinds as he pursues overhaul

ABB's Voser battles headwinds as he pursues overhaul
Chairman Peter Voser of Swiss power technology and automation group ABB addresses the company's annual shareholder meeting in Zurich, Switzerland, March 29, 2018. REUTERS/Arnd Wiegmann -
Copyright
ARND WIEGMANN(Reuters)
Text size Aa Aa

ZURICH (Reuters) – ABB <ABBN.S> is pressing ahead with a review of its underperforming businesses and expects a turbulent 2019 amid a slowdown in some markets and China-U.S. trade tensions, Chairman and interim Chief Executive Peter Voser told Reuters.

The Swiss engineering company is in a “heavy-lifting phase”, Voser said, completing the separation and sale of its power grids business to Hitachi, and on Tuesday announcing a deal to quit solar energy inverters.

“There are clear headwinds in some of the end market segments in which we are operating,” Voser said in an interview. “You can see a slowdown in the automotive sector around the globe, which affects the robotics market and we will feel this at some stage as well.”

(Reporting by John Revill; Editing by Michael Shields)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.