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ABB quarterly profits slump 31%

Swedish-Swiss engineering group ABB n. 1. Among weavers, yarn for the warp. Hence, abb wool is wool for the abb s>.

Noun 1. ABB - an urban hit squad and guerrilla group of the Communist Party in the Philippines; formed in the 1980s
 said Thursday that its net profit slumped 31 percent to 675 million dollars (474.4 million euros), warning that it was unclear when the market would improve.

"Visibility in ABB's markets for the second half of 2009 remains limited. Significant uncertainty remains surrounding sur·round  
tr.v. sur·round·ed, sur·round·ing, sur·rounds
1. To extend on all sides of simultaneously; encircle.

2. To enclose or confine on all sides so as to bar escape or outside communication.

 the key demand drivers for the company?s products and systems," said the group in a statement.

It noted that the need for new power infrastructure remained but "uncertainty surrounding economic recovery, the stability of raw material prices and the availability of project funding Project Funding reflects the overall financial analysis and entails the analysis that is needed in order to get the financial means approved and funds made available to be able to perform the discipline of project management.  continue to influence the timing of many power investment decisions."

As a result, its orders declined 35 percent to 7.3 billion dollars in the second quarter, with the lower demand most marked in industrial markets.

"The economic environment remains challenging, although there are growth opportunities driven by the need for more intelligence and automation in the power network, and the generation and integration of renewable energies Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. ," ABB chief executive Joe Hogan hogan

Dwelling of the Navajo Indians of Arizona and New Mexico. The hogan is roughly circular and constructed usually of logs, which are stepped in gradually to create a domed roof.

"While we?ll continue to focus on adjusting costs quickly, we also aim to take advantage of these opportunities to extend our market leadership."
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Publication:AFP Global Edition
Date:Jul 23, 2009
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