- July 22, 2021
- Posted by: Stratford Team
- Category: Business
- Potential IPO could take place in early 2022
- Sees broad-based rise in orders across industrial customers
- Raises full year sales guidance
- Company expects sale of Dodge business in next few weeks
ZURICH, July 22 (Reuters) – Engineering company ABB (ABBN.S) doubled its full year sales guidance on Thursday thanks to resurgent global industrial demand and said it is forging ahead with plans to float its fast growing electric vehicle charging business next year.
The factory drives and robot maker reported better than expected second quarter results and said double-digit order growth was seen in all its business areas as customers rebuilt their inventories.
Sales of its high-speed electric vehicle chargers for buses and cars have seen an average growth rate of 50% since 2016, benefiting from a global boom in battery-powered vehicles.
Chief Executive Bjorn Rosengren said the business could be listed early next year to help accelerate its growth.
“Demand is enormous…
