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ABB CEO Spiesshofer says sentiment for base orders is 'still cautious'
February 8, 2017 / 7:24 AM / 10 months ago

ABB CEO Spiesshofer says sentiment for base orders is 'still cautious'

ZURICH (Reuters) - ABB (ABBN.S) Chief Executive Ulrich Spiesshofer said demand for base orders, or projects less than $15 million, remained subdued after the power technology and automation company posted a 4 percent decline during the fourth quarter.

CEO Ulrich Spiesshofer of Swiss power and automation technology group ABB addresses a news conference to present the company's full-year results in Zurich, Switzerland February 8, 2017. REUTERS/Arnd Wiegmann

    Base orders fell due to weakness in electrification products and power grids despite increases in the United States, China and Germany, ABB’s three largest markets.

    “The sentiment in some of the markets is still a little bit cautious,” Spiesshofer told reporters on a conference call. “We will get the base orders back to growth and we will continue the pattern of winning large contracts.”

    Reporting by John Revill

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