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home / news releases / ABB - ABB to build new manufacturing site in Albuquerque

ABB - ABB to build new manufacturing site in Albuquerque

ABB Ltd

2023-03-30 09:58:47 ET

  • ABB ( NYSE: ABB ) announced on Thursday plans to invest $40M in a new manufacturing facility in Albuquerque, New Mexico to support the US electric grid and utility sector.
  • The new 90,000-square-foot facility will increase ABB's production of Elastimold cable accessory solutions, which it says is in high demand and used by electric utility providers in grid hardening and resiliency initiatives.
  • The greenfield facility will cater to demand for Elastimold products to support wildfire mitigation, underground and grid hardening projects for homes, businesses and communities.
  • It will be completed in 2024 and include ABB Robotics technology and digital automation to produce more than 1M additional units annually.
  • The new manufacturing facility will be on ABB’s 40-acre site in Albuquerque, which also houses its current Installation Products manufacturing facility.
  • Shares were trading around +2.6% just before 10am ET.

For further details see:

ABB to build new manufacturing site in Albuquerque
Stock Information
Company Name: ABB Ltd
Stock Symbol: ABB
Market: NYSE
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