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canada goose store ZURICH/LONDON, Sept 9 (Reuters) ABB cut its revenue growth target on Wednesday and announced a review of its low margin power projects business in what could be a step towards a sale of assets by the Swiss engineering group. canada goose store

Canada Goose Parka Faced with lower energy prices and a slowdown canada goose in China, ABB also said it was implementing a $1 billion savings programme, meaning costs of $600 million in the buy canada goose jacket cheap final quarter of the year. Canada Goose Parka

Canada Goose Outlet ABB, which makes everything from factory robots to power transformers, is now targeting average annual growth in revenue of just canadian goose jacket 3 percent to Canada Goose online 6 percent until 2020, trimming a prior goal of 4 percent canada goose store to 7 percent. Canada Goose Outlet

ABB is also combining its low margin Power Systems business, which in 2014 booked hundreds of millions in losses on projects including North Sea wind Canada Goose Jackets farms, with its Power Products business that sells transformers.

canada goose clearance sale A strategic review of this new division, called Power Grids, was under way, said ABB cheap Canada Goose Chief Executive Ulrich Spiesshofer. canada goose clearance sale

Canada Goose Jackets The new Power cheap canada goose uk Grids division has 39,000 employees and $12.6 billion in sales, but an operating profit margin of just 4.7 percent, less than buy canada goose jacket a third of ABB most profitable divisions. Canada Goose Jackets

canada goose coats The review will determine how to move Canada Goose Online forward, terms of adding or departing from parts Canada Goose sale of the portfolio, and what the best ownership structure, Speisshofer canada goose clearance sale told Reuters at ABB Capital Markets Day in London. canada goose coats

Were ABB to shed Power Grids, it would be its most significant disposal since 2000 when Canada Goose Outlet it sold canada goose coats on sale its 50 percent share of a power generation business, with 50,000 employees and nearly 10 billion euros in revenue, canada goose coats to Alstom.

buy canada goose https://www.canadagooseonlineshop.co.uk jacket ABB is seeking to narrow a profitability gap to what Spiesshofer calls in class peers rivals like General Electric which on Tuesday won approval from regulators to buy France based Alstom power business. buy canada goose jacket

Canada Goose sale INVESTOR PRESSURE ABB also uk canada goose said it would accelerate restructuring, aiming to save $1 billion annually by the end of 2017. The steps are expected to cost $1.2 billion in total. Canada Goose sale

cheap Canada Goose will cost us some money and it might cost some jobs, said Spiesshofer, canada goose uk shop who has been in the role for two years. cheap Canada Goose

canada goose clearance ABB faces increased pressure to boost performance from a new activist investor, canada goose black friday sale Sweden Cevian, which has accumulated a stake of more than 5 percent. canada goose clearance

canada goose black friday sale But its efforts have been complicated by the slowdown in China, ABB second biggest market. canada goose black friday sale

buy canada goose jacket cheap term it a canada goose uk black friday really difficult environment, Spiesshofer told Reuters on China. the distribution channel at Canada Goose Parka the moment people are uncertain about the economic future and therefore they are very careful with the stocking level, they are trying to de stock. buy canada goose jacket cheap

Canada Goose online The precipitous fall in oil prices has also dented the company sales to canada goose factory sale customers in the upstream oil and gas sector. Canada Goose online

canada goose coats on sale see a massive contraction canada goose uk outlet of discretionary spending of our oil and Canada Goose Coats On Sale gas customers, he added. canada goose coats on sale

canada goose Cevian, which has also bought canada goose clearance stakes in German steelmaker ThyssenKrupp AG and Swedish truck maker Volvo, generally invests in companies in which it sees the potential to double the value of its investment within three to uk canada goose outlet seven years. Since June, when Cevian announced its stake, canada goose sale the shares have lost about 11 percent of their value. canada goose

canadian goose jacket The shares rose 1 percent to 18.72 francs by 1240 GMT. ($1 = 0.9817 Swiss francs) (Reporting by John Miller; Editing by Edwina Gibbs and Keith Weir) canadian goose jacket.

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