Global hydroelectric power and automation technologies conglomerate ABB posted a record profit of US$6.7 billion in 2012 for its United States division, according to a recent company report.
ABB (NYSE: ABB) said the increase was “boosted by acquisitions and strong organic growth” and equates to a 26% increase over the previous year.
The company has invested more than$10 billion in the United States over the past three years, more than doubling its revenues since 2007 to $3.1 billion.
During that period, ABB said its U.S. workforce has grown to nearly 20,000 from 8,700, while revenues in North America as a whole have double to $8.5 billion.
“The U.S. is the largest single market for ABB,” said ABB North America CEO Enrique Santacana. “The expansion in the U.S. and North America is a pillar of the company’s 2015 growing strategy.”
HydroWorld.com reported in January that ABB had won a contract to replace 11 excitation systems at Washington’s Chief Joseph hydroelectric project. The company has also been increasing its interest in commercial-scale tidal turbines.