Industrial technology firm ABB is restructuring its multiple market divisions into four core divisions with its solar energy offerings including PV inverters joining its Electrification Products segment from its existing Discrete Automation and Motion (DM) division.
ABB said that it would be brining all its electrification components within the Electrification Products division and would be regarded as a key growth area for the company in the future. The structural changes are set to place at the beginning of 2017.
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However, ABB noted that the necessary investment to continue the growth momentum of these businesses would initially dampen the Electrification Products division’s profit margins.